Honeywell has announced an amended agreement to acquire Johnson Matthey’s Catalyst Technologies business, revising the total purchase consideration to £1.325 billion from £1.8 billion. The updated agreement also extends the long stop date for completion to July 21, 2026, with the option to extend to August 21, 2026, if certain regulatory approvals remain pending and specific conditions are met.
The proposed acquisition is expected to strengthen Honeywell’s position in process technologies and expand its portfolio of catalyst solutions used in refining, petrochemicals and renewable fuels. The company said the combination will increase its installed base and create a more integrated offering across energy and process industries.
Johnson Matthey’s Catalyst Technologies business brings established expertise and customer relationships across global refining and petrochemical markets. When combined with Honeywell UOP’s process technology capabilities, the acquisition is expected to broaden technology offerings and enhance support for customers working on cleaner fuels and energy transition projects.
Honeywell said the addition of the Catalyst Technologies business will complement its existing catalyst portfolio while creating opportunities for growth in renewable fuel production. The companies’ combined aftermarket capabilities are expected to support customers with improved maintenance services, technical assistance and lifecycle solutions.
The transaction is also expected to create operational synergies with Honeywell’s Process Technologies and Process Automation businesses. By combining research, engineering and service capabilities, Honeywell aims to deliver integrated solutions that improve efficiency, reliability and sustainability for customers.
While regulatory approvals are being completed, Honeywell and Johnson Matthey will continue their existing commercial collaborations to serve customers worldwide. Both companies said they remain committed to maintaining service continuity during the transition period.
The acquisition is anticipated to close by the end of August 2026, subject to customary approvals and conditions. Honeywell expects the deal to contribute positively to adjusted earnings per share in the first full year after completion.
Honeywell is a global technology company providing solutions across aerospace, building automation, industrial automation, process automation and process technologies. Through its Honeywell Accelerator operating system and digital platforms, the company works with customers to improve productivity, safety and sustainability across a wide range of industries.
