International law firm Simmons & Simmons has advised Honeywell on the non-US aspects of its acquisition of Air Products’ liquefied natural gas (LNG) process technology and equipment business.
The all-cash transaction of $1.81 billion represents a complementary acquisition for Honeywell, that will allow the company to expand on its existing LNG pre-treatment business amid growing demand for the lower-emission transition fuel.
The Simmons team advising on the deal was led by partners Raghav Ghai (Corporate) and Satyen Dhana (Antitrust and Regulatory) together supported by a multi-office and multi-specialist team.
The deal follows other significant acquisitions by Honeywell over the last year, including its $4.95bn deal to acquire Carrier’s Global Access Solutions business, which closed last month – on which Simmons also advised the global firm.
Commenting on the acquisition, Raghav Ghai said: “It has been rewarding for our team to support Honeywell on another major acquisition – particularly one which will help to strengthen its energy transition portfolio. We look forward to building on our strong relationship as their global business continues to capitalise on M&A opportunities.”
