Private equity firm Advent International has exited aerospace and defence technology provider CAES Systems to Honeywell in a $1.9bn all-cash deal.
The deal is expected to close in H2 2024.
Advent International previously acquired CAES Systems, then known as Cobham Advanced Electronic Solutions, for $5bn in January 2020, later restructuring it into a standalone entity in 2021.
CAES develops advanced electronics, such as antenna systems and communication networks for the aerospace and defence sectors.
