Honeywell plans to buy aerospace technology provider CAES in a deal worth $1.9 billion.

The US manufacturing company has agreed an all-cash deal with Advent International, the private equity firm that currently owns CAES.

Headquartered in Arlington, Virginia, CAES makes antennas, positioning systems and other electrical products used in satellites and the wider aerospace industry, as well as for defense applications.

It was formerly part of UK-based defense company Cobham, but was separated from its parent company in 2020 when it was purchased by Advent for $5 billion. Advent subsequently sold the CAES Space Systems part of the business to another private equity firm, Veritas Capital.

The deal announced this week does not include Cobham Satcom, which provides ground stations for satellite communication systems, but Honeywell says acquiring CAES will boost its offering across land, sea, air and space.

“This acquisition further positions Honeywell at the forefront of the defense industry’s most dynamic sectors and sets the tempo for continued growth across our aerospace business,” said Vimal Kapur, chairman and CEO of Honeywell.

“With the integration of CAES’ solutions and capabilities, we will fortify our existing defense offerings, while also expanding our capabilities in pivotal areas like RF, radar, and sensing technologies, to ensure a market-leading position in areas that are critical for global security.”

Honeywell will acquire 13 CAES offices as part of the deal, as well as its 2,200 staff. The acquisition is expected to close before the end of the year.

“As a trusted supplier and mission partner to our customers across advanced RF capabilities, I couldn’t be more excited to see CAES join the Honeywell team and work together to build on the outstanding expertise of both companies,” said Mike Kahn, president and CEO of CAES.