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Majority stake Announced Jul 2015 Verified

Honeywell to acquire Elster Division of Melrose Industries for ~$5.1B

Relationship map

Relationship map for Honeywell to acquire Elster Division of Melrose Industries for ~$5.1Bparent ofHoneywell: PlatformHoneywellElster: Operating CompanyELElster
Operating CompanyPlatform

Parties
Acquirer
Honeywell
Platform
Target
Elster
Operating Company

Market signals
Deal value$5.1B reported total consideration · approximate as reported by achrnews.com

Figures marked reported are drawn from a single or secondary source and are not independently confirmed. All figures are presented as reported, see Methodology.

Summary

Honeywell signed a definitive agreement to acquire the Elster Division of Melrose Industries plc — a leading provider of thermal gas solutions for commercial, industrial, and residential heating and gas/water/electricity metering — for approximately $5.1 billion, at about 12.6x estimated 2015 EBITDA, with closing expected Q1 2016.