Honeywell has agreed to buy the LNG process technology and equipment business of Air Products in a $1.81 billion all-cash deal, as it looks to expand its energy transition capabilities, the industrial conglomerate said on Wednesday. The value of the deal represents approximately 13 times the estimated 2024 earnings before tax, depreciation, and amortization (EBITDA) of the business. Following the acquisition, Honeywell will have an end-to-end offering for customers worldwide. The transaction is expected to be accretive to Honeywell’s…
