Honeywell Goes Big: Sealing a $1.9 Billion Deal for CAES Innovations
Honeywell is in the process of purchasing defense electronics specialist CAES Systems Holdings in a cash-only agreement. This arrangement is expected to conclude in the second half of 2024.
Based in Virginia, CAES focuses on antennas, radio frequency (RF) technologies, and signal management solutions employed for creating electronic warfare systems, missiles, and radar technologies. Presently, the company is owned by the private equity firm Advent International.
As per Honeywell, the integration of CAES will bolster its contributions to platforms such as the F-35, EA-18 Growler, AMRAAM air-to-air missile, GMLERS guided munitions, as well as the SPY-6 naval radar, drone, and counter-drone developments.
The acquisition is anticipated to onboard around 2,200 team members, a “substantial reservoir of RF engineering proficiency,” and 13 automated facilities across North America.
“By merging CAES’ cutting-edge solutions and know-how, we will fortify our existing defense offerings while also expanding our capabilities in crucial domains such as RF, radar, and sensing technologies, ensuring a premier position in areas vital for global security,” remarked Vimal Kapur, Chairman and CEO of Honeywell.
This acquisition of CAES represents Honeywell’s third proposed merger this year, in addition to agreements with Civitanavi Systems S.p.A and Carrier Global Corporation.
