Honeywell has announced the acquisition of the Elster Division of Melrose Industries has been completed. Elster is a leading provider of thermal gas solutions for commercial, industrial, and residential heating systems and gas, water, and electricity meters, including smart meters and software and data analytics solutions.
“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 chief executive officer Dave Cote.
Elster’s gas heating and gas, water, and electricity metering businesses will be integrated with Honeywell’s Environmental & Energy Solutions business (E&ES), part of Honeywell Automation and Control Solutions. Elster’s upstream and midstream gas applications businesses will be integrated with Honeywell Process Solutions, within Honeywell Performance Materials and Technologies.
There will be no change to the Company’s 2015 or 2016 financial guidance provided on December 16 as a result of the announcement.
Tim Darkes, president, Honeywell Environmental & Energy Solutions, said: “I would like to welcome Elster employees to Honeywell Environmental & Energy Solutions. It brings outstanding people, technology and a global base of utility customers to augment Honeywell’s energy, home and buildings products and solutions. Elster’s position in smart meters is a strong fit with our connected homes and buildings strategy, and our combined combustion product portfolio makes us a leading global provider of industrial combustion components and systems. Together, our goal is to continue to introduce innovative new products for our customers, and leverage our global scale and broad portfolio to drive growth around the world.”
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