Curtiss-Wright to acquire 901D Holdings for $132M in cash
Curtiss-Wright announced that it has entered into an agreement to acquire the stock of 901D Holdings, LLC for $132M in cash. 901D, a private company, is a leading 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. 901D 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%. 901D employs approximately 85 people and is expected to generate sales of approximately $48M 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.