Proactive Investors
28 May 2026, 06:30 UTC · 2h ago
Source · https://www.proactiveinvestors.co.uk/companies/news/1093018
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5 claims · impact-rated
Johnson Matthey is acquiring US-based Cormetech for an enterprise value of $360 million in cash, with a potential additional $100 million earn-out. — Direct inorganic growth through acquisition scales the Clean Air Solutions business and increases immediate revenue capabilities.
+0.40The acquisition is strategically driven by structural demand for gas-fired power generation resulting from rapid US data center construction. — Links the company's growth prospects to the high-growth AI data center infrastructure trend, providing a strong medium-term catalyst.
+0.30Johnson Matthey reiterated its plan to return £1 billion in net proceeds to shareholders from the pending sale of its Catalyst Technologies business to Honeywell. — A significant cash return to shareholders typically supports the share price and improves capital efficiency.
+0.30Cormetech has a secured orderbook of approximately $300 million through 2027 and a project pipeline of roughly $1 billion. — Provides high visibility into near-term revenue and validates the demand for the acquired assets.
+0.20The deal is expected to be earnings per share (EPS) accretive from the first full year of ownership on a pre-synergy basis. — Immediate accretion is a positive signal for investors regarding the valuation and quality of the acquisition.
+0.20Ticker attribution
Model heads
The company is acquiring Cormetech to scale its Clean Air Solutions business, benefiting from US data center growth and expecting EPS accretion.
Mentioned as the purchaser of JM's Catalyst Technologies business, but no specific sentiment provided regarding the impact on Honeywell.
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