Honeywell, a company that delivers services including aerospace products and services, control technologies for buildings and industry and performance materials, has purchased Compressor Controls Corp. from Indicor LLC, which is owned by funds affiliated with Clayton, Dubilier & Rice and Roper Technologies Inc., for $670 million.
CCC is a provider of turbomachinery control and optimization services, including control hardware, software and services and primarily serves the LNG, gas processing, refining and petrochemical segments. The acquisition will be integrated into Honeywell’s process solutions business and looks to strengthen Honeywell’s position in industrial control, automation and process services, helping customers to drive their energy transitions. It also aims to expand Honeywell’s sustainability portfolio with new carbon capture control services.
“CCC is an ideal complement to our process solutions portfolio, as it brings an installed base of greater than 14,000 control applications to our portfolio and will enable us to accelerate growth in combination with Forge’s industry-leading APM capability,” comments Lucian Boldea, president and chief executive officer of Honeywell Performance Materials and Technologies. “By enhancing our digitalization portfolio, we are helping customers accelerate their energy transitions through new controls and automation that, for example, can help with carbon capture and sequestration.”