Honeywell completes Elster acquisition
January 4, 2016 by Manufacturing AUTOMATION
Jan. 4, 2016 – Honeywell has completed the acquisition of Elster Division of Melrose Industries plc, a global provider of thermal gas solutions for commercial, industrial, and residential heating systems and gas, water, and electricity meters.
The acquisition, which Honeywell announced on July 28, 2015, closed earlier than anticipated following approval by Melrose shareholders and required regulatory approvals, including those in the U.S., European Union, and China.
Elster’s water and electricity metering business, along with part of its gas business, will become part of Honeywell’s Environmental & Energy Solutions (E&ES) business, part of Honeywell Automation and Control Solutions. The business unit produces residential and commercial building controls that strives to help keep homes, commercial buildings and industrial facilities energy efficient.
“The acquisition of Elster adds outstanding technologies, strong well-recognized brands, energy efficiency know-how, and a global presence to the Honeywell portfolio,” said Honeywell chairman and CEO Dave Cote. “We see Elster as a great opportunity to deploy HOS Gold to drive new growth and greater profitability in each of Elster’s businesses. This acquisition is expected to generate strong future returns for our shareowners, consistent with what you have come to expect from Honeywell.”
Elster’s upstream and midstream gas applications businesses will be integrated with Honeywell Process Solutions, within Honeywell Performance Materials and Technologies.