Honeywell announces that it has agreed to acquire CAES Systems Holdings LLC (CAES) from private equity firm Advent International for approximately $1.9 billion, in an all-cash transaction.

The acquisition will enhance Honeywell's defense technology solutions on land, at sea, in the air and in space, including new electromagnetic defense solutions for end-to-end radio frequency (RF) signal management.

Headquartered in Arlington, Virginia, CAES has 13 facilities in North America, including highly automated manufacturing sites with fully automated test and tuning processes.

The transaction, which is expected to be accretive to adjusted EPS in the first full year, is expected to close in the second half of 2024, subject to customary conditions, including certain regulatory approvals.

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