Honeywell Completes Acquisition of Enraf
Acquisition Strengthens Honeywell’s Solution Portfolio, Creates Opportunity for Growth in New Sectors
Honeywell (NYSE:HON) today announced it has completed the acquisition of Enraf Holding B.V., a division of privately held Delft Instruments, based in Delft, Netherlands in a deal valued at approximately $260 million.
“This acquisition brings tremendous upside to both Enraf and Honeywell Process customers in the energy production supply chain,” said Jack Bolick, president of Honeywell Process Solutions. “The integration of Enraf products into the Honeywell portfolio enables us to provide more comprehensive solutions that will reduce installed, operating and engineering costs and improve our customers’ performance. In addition, the acquisition brings an opportunity to grow within our existing customer base and in new sectors such as bio-fuels, LNG terminals and petrochemicals.”
Enraf is a leading provider of mission-critical measurement and controls solutions for the exploration, production and transportation of energy products for land and marine applications. The Enraf line of products for measurement, inventory management, additive injection and custody transfer applications for liquids are complimentary to Honeywell’s extensive portfolio of process control, process safety, plant reliability and advanced applications for oil and gas, refining and petrochemical companies.
Enraf will be part of Honeywell Process Solutions (HPS). The acquisition strengthens Honeywell’s position in the high-growth oil and gas value chain and brings proven automation and inventory management solutions for tank farms, bulk and distribution terminals and Liquid Natural Gas (LNG) industries to Honeywell’s portfolio. It also provides Honeywell entry in to the fast-growing marine transport industry.
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