Curtiss-Wright has closed the Curtiss-Wright -Completes-Acquisition-of-Safran-Aerosystems-Arresting-Company/default.aspx” target=”_blank” rel=”noreferrer noopener”>purchase of Safran Aerosystems Arresting (SAA), a global arresting systems supplier for military aircraft, for $240m in cash.
SAA designs, manufactures and supplies mission-critical, fixed-wing aircraft emergency arresting systems.
Following the transaction, Curtiss-Wright will operate the new business within its Naval & Power segment.
This combination will further support various critical defence platforms.
In a press statement, Curtiss-Wright said: “SAA’s safety systems have a strong alignment to and are a logical adjacency with Curtiss-Wright ’s existing helicopter landing and recovery systems, and the combination provides an opportunity to leverage our combined, long-standing relationships with leading defence customers supporting critical defence platforms.”
The latest acquisition is also expected to support the financial objectives of Curtiss-Wright for strong free cash flow generation and long-term profitable growth.
In 2021, SAA generated the sales of around $70m and is now expected to gradually boost the adjusted diluted earnings per share of Curtiss-Wright in the first year of ownership.
This will also create a strong free cash flow conversion rate of more than 100%.
Before issuing the results of second quarter 2022, Curtiss-Wright will update the financial guidance for the current year to add the contributions of SAA.
Based in Merpins, France and Aston, Pennsylvania, US, SAA has customers in more than 70 countries.
The company has a diverse portfolio of products to support aircraft carrier and fixed land-based arresting systems.
This includes retractable hook cable systems, net-stanchion systems, energy absorbers and mobile systems.