27 May, 2025 13:41:13 IST 
Diversified American conglomerate, Honeywell, has agreed to acquire Johnson Matthey’s Catalyst Technologies business segment for 1.8 billion pounds ($2.4-bn), including debt.
Johnson Matthey’s Catalyst Technologies business segment is a leading provider of catalyst manufacturing and process technology licensing. It has approximately 1,900 employees and is headquartered in London, with sites in the US, Europe and India.
Honeywell said the combination of the Catalyst Technologies business with its Energy and Sustainability Solutions (ESS) business segment is expected to add attractive “high growth vectors to the portfolio and drive significant additional benefits through cost synergies”.
The Catalyst Technologies’ business model complements Honeywell’s existing UOP business of selling catalyst and process technologies and expands its installed base across refining and petrochemical catalysts. Honeywell said it will now be able to offer customers a comprehensive solution for the production of lower emission, critical fuels including sustainable methanol, sustainable aviation fuel (SAF), blue hydrogen and blue ammonia. The resulting offerings will provide licensed technology, engineering, services and catalysts to convert hydrocarbon and renewable feedstocks to high-value end products.
The acquisition follows Honeywell’s announcement of the planned spin off of its Aerospace Technologies business along with the planned spin off of its Advanced Materials business, which will result in three publicly listed industry leaders with distinct strategies and growth drivers.
Since December 2023, Honeywell has announced a number of strategic actions to drive organic growth and simplify its portfolio, including approximately $11-bn of accretive acquisitions recently closed or announced: the Access Solutions business from Carrier Global, Civitanavi Systems, CAES Systems, the LNG business from Air Products, and Sundyne. In addition, Honeywell entered into an agreement to divest its Personal Protective Equipment business, which is expected to close in Q2 2025.
Meanwhile, Johnson Matthey’s CEO Mr. Liam Condon told analysts that the company had received interest for the unit three years ago but at a valuation that was “minuscule compared with today”. The sale to Honeywell is expected to generate net proceeds for the British company of about 1.6 billion pounds, around 88% of which will be returned to shareholders, Johnson Matthey said.
Catalyst Technologies reportedly made up about 19% of Johnson Matthey’s total sales in the year ended March 2025.
Johnson Matthey will now focus on its two main businesses that make pollution filters for cars and process platinum group metals.
“We will now fundamentally re-shape Johnson Matthey into a more focused and leaner business,” Mr. Condon said in a statement.
Over the last four-and-a-half years, Johnson Matthey has sold assets including battery materials, glass technologies, health and medical devices.
