© mariusz szachowski dreamstime.com Electronics Production | January 07, 2020
Curtiss-Wright completes Acquisition of 901D Holdings
Curtiss-Wright Corporation has completed the acquisition 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 ruggedised shipboard enclosure solutions supporting every major U.S. Navy shipbuilding program. The company employs employs approximately 85 people. The acquisition expands the breadth of Curtiss-Wright’s instrumentation and controls systems technologies and increases the company's footprint on critical U.S. Navy shipbuilding programs. "The business will operate within Curtiss-Wright's Defense segment. The acquisition supports our long-term financial objectives including increased sales growth, margin expansion and strong free cash flow generation. It is expected to be accretive to Curtiss-Wright's 2020 adjusted diluted earnings per share, excluding first year purchase accounting costs, and produce a free cash flow conversion rate in excess of 100%," the company writes in a press release.