Johnson Matthey to sell Catalyst Technologies business to Honeywell

26 May 2025

Johnson Matthey announced that it has reached an agreement to sell its Catalyst Technologies business to Honeywell International at an enterprise value of £1.8 billion ($2.4 billion) on a cash and debt-free basis. The transaction is expected to deliver net sale proceeds of about £1.6 billion to the Group, subject to customary closing adjustments. Following the sale, JM will focus on Clean Air and PGM Services.

The Catalyst Technologies business licenses process technology and supplies catalysts for chemical processing including such products as traditional fuels, fertilizers, food ingredients, wood products, paint, sustainable fuels and chemicals, and low carbon hydrogen. Automotive catalysts fall within the Clean Air business and will remain part of Johnson Matthey’s business.

After deducting one-off payments and costs associated with the Transaction of about £0.2 billion, JM intends to return £1.4 billion of these proceeds to JM shareholders with the remaining £0.2 billion of total net proceeds to be retained by the Group for general corporate purposes.

Source: Johnson Matthey | Honeywell