Curtiss-Wright Completes Acquisition of 901D Holdings, LLC
Curtiss-Wright Corporation announced that it has completed the acquisition of 901D Holdings, LLC (901D) for $132 million in cash. 901D 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 acquisition expands the breadth of instrumentation and controls systems technologies and increases Curtiss-Wright’s footprint on critical U.S. Navy shipbuilding programs. In addition, the combination of 901D’s proven track record and Curtiss-Wright’s state-of-the-art electronic systems and software capabilities will provide shipboard solutions on both nuclear and non-nuclear powered vessels
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%.
Founded in 1999, 901D’s solutions are utilized in mission-critical applications to protect servers, weapons systems and other hardware aboard all major U.S. Navy aircraft carriers, submarines and surface ships from harsh environments (shock, thermal, electromagnetic). Further, it is a critical supplier of MIL-SPEC ruggedized enclosure solutions from specification through certification and also provides proven design configurations to match customers’ exact form, fit and function requirements. 901D employs approximately 85 people.
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