Curtiss-Wright Corporation has completed the acquisition of Ultra Nuclear Limited and Weed Instrument Co., Inc. (Ultra Energy) for USD 200M in cash. Ultra Energy is a 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 UK nuclear submarine fleet, as well as current and next-generation ship designs.
The acquisition also supports Curtiss-Wright’s long-term financial objectives for profitable growth and strong free cash flow generation. Ultra Energy generated sales of approximately USD 65M in 2023 and is expected to be accretive to Curtiss-Wright’s adjusted diluted earnings per share in its first full year of ownership, excluding first year purchase accounting costs, and produce a strong free cash flow conversion rate in excess of 100%. The business will operate within Curtiss-Wright’s Naval & Power segment.