Curtiss-Wright Corporation announced that it has entered into an agreement to acquire the stock of Dyna-Flo Control Valve Services Ltd. (Dyna-Flo) for CAD 81M (USD 62M) in cash. Dyna-Flo is a leading designer and manufacturer of linear and rotary control valves, isolation valves, actuators, and level and pressure control systems for the chemical, petrochemical, and oil and gas markets.
The acquired business will operate within Curtiss-Wright’s Commercial/Industrial segment and 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%. Dyna-Flo’s financials are not included in the Company’s initial 2020 guidance.
Founded in 1993 and headquartered in Edmonton, Alberta, Canada, Dyna-Flo’s core product offering addresses the majority of control valve applications with designs ranging from compact low profile to heavy-duty severe service. The complete range of valves have both on/off and throttle control for gas or fluid service and meet the critical industry standards of NACE and ASME B16.34 compliance. Control valves are an integral part of the pressure relief system design, where Curtiss-Wright enjoys a leadership position. Dyna-Flo has approximately 120 employees and is expected to generate sales of approximately CAD 33M (USD 25M) in fiscal 2020, principally to the general industrial market. The acquisition is expected to close in March 2020.
