Curtiss-Wright to buy Ultra Energy in $200M deal
Curtiss-Wright (NYSE:CW) said Monday it agreed to acquire Ultra Electronics' Ultra Energy subsidiary for $200M in cash.
Ultra Energy, which will operate within Curtiss-Wright's (CW) Naval & Power segment, is a provider of safety-critical measurement and control systems to the commercial nuclear and aerospace and defense markets, generating ~$65M in sales in 2023.
Curtiss-Wright (CW) said it expects the deal will be accretive to adjusted diluted earnings per share in the first full year of ownership and produce a strong free cash flow conversion rate in excess of 100%.
The acquisition is expected to close in Q3, subject to U.K. regulatory approval.