Honeywell Targets CAES Systems in $1.9 Billion Acquisition Deal
Honeywell is in the process of acquiring defense electronics expert CAES Systems Holdings in a cash-only transaction. This deal is anticipated to finalize in the latter half of 2024.
Headquartered in Virginia, CAES specializes in antennas, radio frequency (RF) technologies, and signal management solutions utilized for developing electronic warfare systems, missiles, and radar technology. Currently, the firm is under the ownership of private equity group Advent International.
According to Honeywell, the incorporation of CAES will enhance its contributions to platforms like 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 innovations.
The acquisition is projected to bring onboard approximately 2,200 employees, a “robust pool of RF engineering expertise,” and 13 automated facilities throughout North America.
“By integrating CAES’ innovative solutions and expertise, we will strengthen our current defense offerings while also broadening our capabilities in vital sectors such as RF, radar, and sensing technologies, ensuring a top-tier position in areas essential for global safety,” stated Vimal Kapur, Chairman and CEO of Honeywell.
This acquisition of CAES marks Honeywell’s third proposed merger this year, alongside agreements for Civitanavi Systems S.p.A and Carrier Global Corporation.
