Honeywell (Morristown, N.J.; www.honeywell.com) has signed a definitive agreement valued at approximately $400 million to acquire the Kassel, Germany-based RMG Group (RMG Regel + Messtechnik GmbH and all of its subsidiaries, together RMG; www.rmg.de). RMG will be integrated into Honeywell Process Solutions, which is part of Honeywell’s Automation and Control Solutions business group. The transaction is subject to regulatory approvals.
Founded in 1931 in Kassel, RMG specializes in the design and manufacture of natural gas control, measurement and analysis equipment including flow metering technology, regulating products and safety devices for oil and gas companies. RMG has estimated 2009 sales to be $290 million USD.
“Global demand for gas, specifically clean energy sources like natural gas, is growing and RMG is an established solution provider in the industry,” said Norm Gilsdorf, president of Honeywell Process Solutions. “RMG’s technology complements our industrial platform and will ultimately enable us to provide our existing customers, as well as new customers, with broader solutions that span the entire gas supply chain. This is an excellent fit for our business and will strengthen Honeywell’s global presence in the clean energy industry.