<ul><li>Advent International has closed the sale of CAES Systems to Honeywell in an all-cash transaction for $1.9 billion.</li><li>The acquisition of CAES expands Honeywell’s defense and space portfolio and enables them to increase production and upgrade positions on various platforms.</li><li>Honeywell can now introduce its products on new platforms such as the SPY-6 radar system and UAS technologies.</li><li>The sale of CAES at $1.9 billion equals 14x the company’s estimated 2024 EBITDA, according to Honeywell.</li></ul>

Advent Closes Sale of CAES to Honeywell

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