Honeywell Technologies, headquartered in Charlotte, North Carolina, has completed its acquisition of Johnson Matthey's Catalyst Technologies business in an all-cash transaction valued at £1.325 billion ($1.79 billion USD).

According to the company, the acquisition expands its portfolio of process technologies for refining, petrochemical and renewable fuels applications by combining catalyst technologies with its existing process automation and digital platforms. Honeywell said the transaction, first announced last year, also broadens its global installed base and strengthens its ability to provide integrated process technology solutions across a wider range of industrial applications.

The company said combining catalyst technologies with its process technologies and Honeywell Forge digital platform will expand its end-to-end offerings for energy and process industry customers.

"This acquisition significantly enhances Honeywell Technologies' ability to deliver end-to-end solutions that help our customers drive efficiency, reduce emissions and accelerate energy security goals," said Ken West, president and CEO of Process Technology at Honeywell Technologies, in a statement. "By combining Johnson Matthey's differentiated catalyst expertise with our leading technologies and digital capabilities, we are creating a strong platform for future growth while enabling our customers to immediately unlock the benefits of a more robust set of offerings."

The acquisition follows Honeywell Technologies' recent corporate restructuring, including the separation of its aerospace business in June and the 2025 spin-off of its advanced materials business. According to the company, it has completed approximately $11.5 billion in acquisitions since 2023, including Sundyne and Air Products, while continuing to reshape its industrial technology portfolio through additional divestitures.

The acquisition also builds on the companies' recent collaboration in sustainable aviation fuel technology. Last month, Johnson Matthey Catalyst Technologies and Honeywell Technologies were selected to provide key process technologies for Phelan Green Hydrogen's planned electro-sustainable aviation fuel facility in South Africa. The project will integrate Johnson Matthey's syngas and Fischer-Tropsch technologies with Honeywell's upgrading process to produce sustainable aviation fuel.