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

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.

“MORRISTOWN, N.J. — Honeywell announced it has 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 systems and gas, water, and electricity meters, including smart meters and software and data analytics solutions, for approximately $5.1 billion.”

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