Honeywell backs growth drive with $1.9 bln aerospace and defense deal

June 20 (Reuters) – Honeywell (HON.O), opens new tab will buy aerospace and defense technology provider CAES Systems for $1.9 billion, the U.S. manufacturing giant said on Thursday, part of its focus on three broader business trends to drive growth.

Since taking charge as chief executive in June 2023, Vimal Kapur has steered the company toward three “compelling megatrends” – automation, the future of aviation and energy transition.

The all-cash transaction with private equity firm Advent International for CAES is Honeywell’s third deal this year.