Curtiss-Wright Acquires Safran Aerosystems Arresting For $240 Million
Curtiss-Wright Company introduced that it has accomplished the acquisition of the Safran Aerosystems Arresting Firm (SAA) for $240 million in money. SAA is a designer and producer of mission-critical, fixed-wing plane emergency arresting programs with a robust put in base of greater than 5,000 programs worldwide together with gross sales to greater than 70 international locations. The acquisition of the Safran arresting programs enterprise firmly establishes Curtiss-Wright as a number one international provider of fixed-wing plane restoration and arresting programs, and will increase the breadth of the Firm’s international protection portfolio as roughly 75% of SAA’s gross sales are generated exterior of the U.S. and assist many NATO companions. SAA’s security programs have a robust alignment to and are a logical adjacency with Curtiss-Wright’s present helicopter touchdown and restoration programs, and the mixture offers a chance to leverage our mixed, long-standing relationships with main protection clients supporting vital protection platforms.
The enterprise will function inside Curtiss-Wright’s Naval & Energy section. The acquisition helps Curtiss-Wright’s monetary aims for long-term worthwhile development and powerful free money move era. SAA generated gross sales of roughly $70 million in 2021, and it’s anticipated to be accretive to Curtiss-Wright’s adjusted diluted earnings per share in its first full 12 months of possession and produce a robust free money move conversion charge nicely in extra of 100%. The Firm will replace its 2022 monetary steerage to incorporate SAA’s contribution when it points its second quarter 2022 outcomes.
Via its predecessor corporations, SAA created the primary plane arresting system in 1960 and right this moment is a world chief in land-based navy arresting programs. Its various product portfolio consists of vitality absorbers, retractable hook cable programs, net-stanchion programs and cellular programs to assist plane provider and glued land-based arresting programs. SAA’s aftermarket enterprise, which is supported by the world’s largest put in base of arresting programs, offers cradle-to-grave assist from civil engineering at set up, on-site qualification via post-installation upkeep, spares, and overhaul providers. SAA employs almost 140 folks and maintains operations in Aston, Pa. and Merpins, France.
Curtiss-Wright Company is a worldwide built-in enterprise that gives extremely engineered merchandise, options and providers primarily to Aerospace & Protection markets, in addition to vital applied sciences in demanding Industrial Energy, Course of and Industrial markets. We leverage a workforce of seven,800 extremely expert staff who develop, design and construct what we consider are one of the best engineered options to the markets we serve. Constructing on the heritage of Glenn Curtiss and the Wright brothers, Curtiss-Wright has an extended custom of offering revolutionary options via trusted buyer relationships. Curtiss-Wright Company has an extended historical past with its roots relationship again to Orville and Wilbur Wright’s first flight in 1903, and Mr. Glenn Curtiss, the daddy of naval aviation. In 1929, the businesses based by these three nice aviation pioneers, the Curtiss Aeroplane and Motor Firm and Wright Aeronautical Company, merged to kind the most important plane firm on the time, Curtiss-Wright Company.
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