preloader icon

Apex Trader Funding (ATF) - News

Honeywell Swoops In To Acquire CAES For $1.9B, Boosts Defense Business

Honeywell International Inc. (NASDAQ:HON) disclosed an agreement to acquire CAES Systems Holdings LLC (CAES) from Advent International for about $1.9 billion in an all-cash transaction. This acquisition represents about 14 times the estimated 2024 EBITDA on a tax-adjusted basis. The buyout is expected to boost adjusted earnings per share in the first full year of ownership and is not subject to financing conditions. The deal is anticipated to close in the second half of 2024, pending customary closing conditions and regulatory approvals. Vimal Kapur, chairman and CEO of Honeywell said, “This acquisition further ...