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Curtiss-Wright to acquire 901D Holdings, LLC
Curtiss-Wright Corporation has entered into an agreement to acquire the stock of 901D Holdings, LLC (901D) for USD 132 million in cash.
901D, is a designer and manufacturer of mission-critical integrated electronic systems, subsystems and ruggedized shipboard enclosure solutions supporting every major U.S. Navy shipbuilding program. The acquired business will operate within Curtiss-Wright's Defense segment. "The acquisition of 901D increases our footprint on critical U.S. Navy shipbuilding programs, as well as the breadth of our instrumentation and controls systems technologies,” says David C. Adams, Chairman and CEO of Curtiss-Wright Corporation, in a press release. “The combination of 901D’s proven track record and Curtiss-Wright’s state-of-the-art electronic systems and software capabilities will allow us to provide shipboard solutions on both nuclear and non-nuclear powered vessels, and ensures that we are well-positioned to benefit from the continued expansion of our U.S. naval fleet. Further, this transaction reinforces our long-term financial objectives including increased sales growth, margin expansion and strong free cash flow generation.” Founded in 1999, 901D’s solutions are utilised in mission-critical applications in harsh environments by protecting servers, weapons systems and other hardware aboard all major U.S. Navy aircraft carriers, submarines and surface ships. 901D employs approximately 85 people and is expected to generate sales of approximately USD 48 million in fiscal 2019, principally to the naval defense market. The acquisition is expected to close in December 2019, subject to the receipt of regulatory approval and other closing conditions.
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