Honeywell Technologies has completed its £1.325 billion ($1.8 billion) all-cash acquisition of Johnson Matthey’s Catalyst Technologies business, strengthening its portfolio across refining, petrochemicals and renewable fuels.

The deal expands Honeywell’s end-to-end energy and process technology offering, combining catalyst solutions with its automation and digital capabilities.

The company said the acquisition will broaden its global customer base and support the delivery of integrated solutions aimed at improving operational efficiency, performance and industrial productivity.

“This acquisition significantly enhances Honeywell Technologies’ ability to deliver end-to-end solutions that help our customers drive efficiency, reduce emissions and accelerate energy security goals,” said Ken West, President and CEO, Process Technology, Honeywell Technologies. “By combining Johnson Matthey’s differentiated catalyst expertise with our leading technologies and digital capabilities, we are creating a strong platform for future growth while enabling our customers to immediately unlock the benefits of a more robust set of offerings.”