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Honeywell to Acquire UK-Based Johnson Matthey Unit in $2.4B Energy Deal

On May 22, 2025, in Charlotte, N.C., Honeywell announced its agreement to purchase the Catalyst Technologies division of Johnson Matthey in a £1.8 billion all-cash transaction.
The deal follows pressure on Johnson Matthey from its largest shareholder, Standard Industries, amid criticism over strategic focus and recent financial impairments.
The acquisition expands Honeywell’s presence in the refining and petrochemical catalyst markets and strengthens its product lineup for sustainable fuel solutions such as SAF, blue hydrogen, and methanol.
The transaction, anticipated to finalize by mid-2026, is valued at roughly 11 times the projected EBITDA for 2025 and is expected to positively impact Honeywell’s adjusted earnings per share.
The sale will allow Johnson Matthey to focus on clean air and platinum group metal services, improving sustainable cash generation and shareholder returns.

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The Business Journals

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Honeywell to acquire UK-based Johnson Matthey unit in $2.4B energy deal

Charlotte-based Honeywell will buy Johnson Matthey’s Catalyst Technologies business for $2.4 billion, adding key energy tech to its sustainability portfolio. The deal boosts Honeywell’s push into low-emission fuels and continues CEO Vimal Kapur’s $11B acquisition spree since late 2023.

7 hours ago·United States

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Energy Voice

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Johnson Matthey confirms £1.8bn sale of sustainable aviation fuels business

The deal with Honeywell International includes its involvement in a project in Teesside with Willis Sustainable FuelsJohnson Matthey confirmed it had agreed sale of its Catalyst Technologies division to Honeywell International as its hydrogen business faced write downs.

22 hours ago·United Kingdom

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Bloomberg

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Honeywell to Buy Johnson Matthey’s Catalyst Business for $2.4 Billion

Honeywell International Inc. agreed to buy Johnson Matthey Plc’s catalyst technology business for an enterprise value of about £1.8 billion ($2.4 billion) in cash.

22 hours ago·United States

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Financial Times

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Honeywell close to securing Johnson Matthey catalyst unit in £1.8bn deal

Tie-up would mark the latest acquisition of a UK asset by a US group

1 day ago·London, United Kingdom

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Sky News UK

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Johnson Matthey to unveil £1.5bn-plus sale amid activist pressure

The London-listed industrial group, which is under pressure from an activist investor, will unveil a deal on Thursday to sell one of its four main divisions for between £1.5bn and £2bn, Sky News learns.

1 day ago·United Kingdom

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