Honeywell Completes Acquisition of Johnson Matthey’s Catalyst Technologies

Honeywell Technologies said Friday, July 17, 2026, that it has completed its acquisition of Johnson Matthey’s Catalyst Technologies business, closing a major industrial deal that broadens Honeywell’s catalyst and process-technology offerings for refining, petrochemicals and renewable fuels.

Catalyst Technologies makes catalysts — materials used to speed chemical reactions in industrial plants — and licenses process technology used in refining, petrochemicals and lower-carbon fuels projects. Honeywell has said the business will expand its ability to offer customers more integrated packages combining catalysts, process technology and Honeywell Forge digital tools. Honeywell previously described the unit as having about 1,900 employees, headquartered in London, with sites in the United States, Europe and India.

The acquisition was originally announced on May 22, 2025, at an enterprise value of 1.8 billion pounds. But Honeywell and Johnson Matthey amended the agreement on Feb. 23, 2026, cutting the price to 1.325 billion pounds and extending the long-stop date. In a transaction update that day, Johnson Matthey said, “Accordingly, JM has agreed to sell the CT business to Honeywell for an enterprise value of £1,325 million on a cash and debt-free basis.”

Johnson Matthey said at the time that the lower valuation reflected Catalyst Technologies’ 2025/26 business performance. It pointed to deferred sustainable-solutions licensing projects and reduced profitability from catalyst supply in what it described as a difficult market environment. The repricing made the deal notable because it did not close on the original terms, with weaker trading and delayed projects directly cited as reasons for the reduction.

The final regulatory step came earlier this month. On July 3, Johnson Matthey said China’s State Administration for Market Regulation had cleared the transaction and that “All conditions to the Transaction have therefore now been satisfied and JM is working with Honeywell to proceed to completion…” Three days later, Johnson Matthey said the companies “have agreed a completion date of 17th July 2026.”

The sale gives Honeywell a larger position in the industrial technologies that underpin fuel refining, petrochemical production and renewable-fuels projects, where catalyst performance and licensed processing know-how can be central to plant economics and output. For Johnson Matthey, the transaction also supports a planned return of capital to shareholders. The company previously said it expected to return about 1 billion pounds of net sale proceeds, including roughly 800 million pounds through a special dividend and about 200 million pounds through an on-market share buyback.