Curtiss-Wright Corporation (NYSE: CW) today announced that it has completed the acquisition of Ultra Nuclear Limited and Weed Instrument Co., Inc. for $200 million in cash. Ultra Energy is a leading global provider of safety-critical measurement and control systems to the Commercial Nuclear and Aerospace & Defense markets.
The business designs and manufactures reactor protection systems, neutron monitoring systems, radiation monitoring systems, and temperature and pressure sensors that facilitate the safe and reliable operation of commercial nuclear reactors and other power generation plants. It also provides support to the legacy U.K. nuclear submarine fleet, as well as current and next-generation ship designs.
In alignment with our strategic priorities highlighted at its 2024 Investor Day, the acquisition of Ultra Energy increases the breadth of Curtiss-Wright’s global commercial nuclear portfolio with highly complementary measurement and control solutions supporting plant life extensions and modernization projects of aging power plants and further expands our presence with the leading global designers of small modular reactors, both in the U.S. and Europe.
“The acquisition,” read this morning’s news release, “also supports Curtiss-Wright's long-term financial objectives for profitable growth and strong free cash flow generation. Ultra Energy generated sales of approximately $65 million in 2023 and is expected to be accretive to Curtiss-Wright's adjusted diluted earnings per share in its first full year of ownership.”
CW shares sprang up $1.91 to $356.78.
