What will CAES do with Honeywell?

With CAES' scalable offerings and Honeywell's current defense and space portfolio, the combined company will grow Honeywell's established production and upgrade positions on critical platforms that include F-35, EA-18G, AMRAAM and GMLRS, while also introducing offerings on new platforms like Navy Radar (SPY-6) and UAS and C-UAS technologies.

How much did Honeywell buy CAES systems?

CHARLOTTE, N.C., Sept. 4, 2024 /PRNewswire/ -- Honeywell (NASDAQ: HON) today announced the completion of its acquisition of CAES Systems Holdings LLC (CAES) from private equity firm Advent International for approximately $1.9 billion in an all-cash transaction.

Who is CAES holdings?

CAES Holdings is one of the businesses created by Advent International when it acquired UK-based defence company Cobham in 2020 in a £4bn ($5.6bn) takeover. At the time, Advent expressed its “long term commitment to investing in the UK” through the deal.

Where is CAES based?

Headquartered in Arlington, Va., CAES (formerly known as Cobham Advanced Electronic Solutions) has 13 facilities in North America, including highly automated manufacturing facilities with fully automated test and tuning processes. The acquisition will add approximately 2,200 employees and a deep bench of RF engineering talent.

How will CAES' high-reliability radio frequency technology help the defense industry?

CAES’ high-reliability radio frequency technologies will help drive long-term growth and further diversify revenue streams on leading defense platforms.

What is CAES (compressed air energy storage)?

Recently, a major breakthrough has been made in the field of research and development of the Compressed Air Energy Storage (CAES) system in China, which is the completion of integration test on the world-first 300MW expander of advanced CAES system marking the smooth transition from development to production.