CDR-backed Honeywell completed the acquisition of Compressor Controls Corporation from INDICOR for $670m.

CDR-backed Honeywell, an American multinational conglomerate company that produces commercial and consumer products, engineering services and aerospace systems, completed the acquisition of Compressor Controls, a firm that operates in Turbomachinery Train Optimization Services for the upstream, midstream and downstream Oil & Gas industries, from INDICOR, a diversified industrial solutions company providing specialized, mission-critical products for industrial manufacturers for $670m. "Compressor Control Corporation is an ideal complement to our process solutions portfolio, as it brings an installed base of greater than 14k control applications to our portfolio and will enable us to accelerate growth in combination with Forge's industry leading APM capability. By enhancing our digitalization portfolio, we are helping customers accelerate their energy transitions through new controls and automation that, for example, can help with carbon capture and sequestration," Lucian Boldea, Honeywell President and CEO of Performance Materials and Technologies.