Honeywell has completed the acquisition of Elster, a global leader in gas heating, controls, metering and advanced technology and a division of Melrose Industries plc.
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.
Elster’s water and electricity metering business, along with part of its gas business, will become part of Honeywell’s Environmental & Energy Solutions (E&ES) business, a global business unit of Honeywell Automation and Control Solutions that produces residential and commercial building controls, keeping millions of homes, commercial buildings and industrial facilities comfortable and energy efficient.
President of Honeywell Environmental & Energy Solutions, Tim Darkes, said: “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.”
Elster’s products and technologies complement HPS’ strong position in the natural gas sector. The new expanded line of products includes ultrasonic and turbine meters, electronic volume correctors, gas chromatographs, flow computers, regulators and pressure reducing stations for the gas transmission and distribution industry.
Honeywell chairman and ceo Dave Cote said: “The acquisition of Elster adds outstanding technologies, strong, well-recognised brands, energy efficiency know-how, and a global presence to the Honeywell portfolio.”
There is no change to the company’s 2015 or 2016 financial guidance provided on December 16 as a result of the announcement.