Honeywell International (HON) said Tuesday it agreed to acquire pump-and-compressor maker Sundyne from private-equity firm Warburg Pincus for $2.16 billion in an all-cash deal.

Honeywell expects the acquisition to be immediately accretive to sales growth and segment margin, as well as to adjusted per-share earnings in the first full year of ownership, it said.

The deal is expected to close in Q2, subject to regulatory approvals and other conditions.