Curtiss-Wright, a US-based company that delivers critical function products and services to the commercial, industrial, defence and energy markets, has agreed to acquire 901D Holdings for $132m.
Curtiss-Wright said that 901D Holdings provides design, analysis, integration and testing of MIL-SPEC subsystems and ruggedised COTS products.
The acquisition of 901D Holdings is expected to enable Curtiss-Wright’s defence solutions division to better serve the US and international markets for ruggedised shipboard enclosures and electronic subsystems.
Subject to the receipt of regulatory approval and other closing conditions, Curtiss-Wright expects the acquisition to close in December 2019.
Excluding first-year purchase accounting costs, 901D is expected to be accretive to Curtiss-Wright’s 2020 adjusted diluted earnings per share and produce a free cash flow conversion rate of more than 100%.
Curtiss-Wright chairman and CEO David Adams said: “The acquisition of 901D increases our footprint on critical US Navy shipbuilding programmes, as well as the breadth of our instrumentation and controls systems technologies.”
The company said that 901D is involved in the design and manufacture of mission-critical integrated electronic systems, subsystems and ruggedised shipboard enclosure solutions for all major US Navy platforms.
Curtiss-Wright defence and power senior vice-president and general manager Lynn Bamford said: “With the acquisition of 901D, Curtiss-Wright’s Defense Solutions division firmly establishes its position as a leading designer and manufacturer of MIL-SPEC Naval Shipboard ruggedised enclosure and electronic subsystems.
“Combined with our current mission-critical maritime solutions, this acquisition further expands our ability to provide shipboard solutions on all US aircraft carriers, submarines, surface combatants, and amphibious ships.”
Established in 1999, Airmont-based 901D provides a wide range of products, including qualified electronic system cabinets, modular console and workstation designs for surface ship and submarine applications.
After the acquisition, 901D will operate within Curtiss-Wright’s defence segment.
Curtiss-Wright is headquartered in Davidson, North Carolina and delivers highly engineered, critical function products and services for the commercial, industrial, defence and energy markets. The company employs approximately 9,000 people worldwide.