Honeywell Technologies has completed the acquisition of Johnson Matthey’s Catalyst Technologies business in an all-cash transaction valued at £1.325 billion. The acquisition marks a significant step in strengthening Honeywell’s capabilities across refining, petrochemicals, renewable fuels and other process industries, while expanding its portfolio of integrated industrial solutions.
The addition of Catalyst Technologies enhances Honeywell’s position as a provider of end-to-end solutions for customers across the energy and process sectors. By combining catalyst technologies with its automation, digital and process technologies, the company aims to help customers improve operational performance, increase efficiency, reduce emissions and support energy security objectives.
The acquisition also broadens Honeywell Technologies’ global installed base, allowing the company to serve a wider range of industrial applications. Customers are expected to benefit from a more comprehensive portfolio that integrates process technologies, advanced automation, digital intelligence and engineering expertise into a single offering.
Honeywell said the transaction aligns with its long-term strategy of building a stronger technology portfolio capable of addressing evolving industrial requirements. The company expects the expanded business to support customers in improving productivity, enhancing sustainability and optimizing operations across the industrial value chain.
Ken West, President and Chief Executive Officer, Process Technology, Honeywell Technologies, said the acquisition represents an important milestone for the company’s growth strategy. He said the addition of Johnson Matthey’s catalyst expertise strengthens Honeywell Technologies’ ability to deliver integrated solutions that improve operational efficiency, reduce carbon emissions and support customers in achieving their energy transition goals. He added that the combination of advanced catalyst technologies with Honeywell’s automation and digital capabilities creates a stronger platform for future innovation while delivering immediate value to customers.
The acquisition follows a series of strategic changes undertaken by Honeywell Technologies to sharpen its focus on industrial automation and process technologies. Earlier this year, the company completed the separation of its Aerospace Technologies business, which now operates independently as Honeywell Aerospace. Before that, Honeywell spun off its Advanced Materials business, Solstice Advanced Materials, as a separate publicly listed company.
Since 2023, Honeywell Technologies has completed nearly $11.5 billion worth of strategic acquisitions. These include Compressor Controls Corporation, SCADAfence, Carrier Global’s Access Solutions business, Air Products’ LNG business, Sundyne and Li-ion Tamer. These acquisitions have expanded the company’s expertise across automation, cybersecurity, industrial equipment and energy technologies.
The company has also streamlined its operations by divesting non-core businesses. It completed the sale of its Personal Protective Equipment business in 2024 and has announced plans to divest its Productivity Solutions and Services and Warehouse and Workflow Solutions businesses, with both transactions expected to close during the second half of 2026.
Honeywell Technologies serves customers across the building, industrial and process sectors with a broad range of automation products, software and services. Supported by its Honeywell Technologies Accelerator operating system and Honeywell Technologies Forge intelligence platform, the company combines engineering expertise with data collected from its extensive global installed base to help customers improve performance, reliability and operational efficiency.
