Curtiss-Wright acquires Ultra Energy
North Carolina-based Curtiss-Wright has entered into an agreement to acquire Ultra Energy, a subsidiary of the U.K.-headquartered Ultra Electronics Holdings. Ultra Energy is a designer and manufacturer of reactor protection systems, neutron monitoring systems, radiation monitoring systems, and temperature and pressure sensors. The $200 million deal is expected to close this year in the third quarter, subject to U.K. regulatory approval.
Bamford
Quote: Lynn Bamford, Curtiss-Wright’s chair and chief executive officer, said, “The acquisition of Ultra Energy significantly increases the breadth of Curtiss-Wright’s global portfolio with highly complementary, critical measurement, and control solutions supporting the modernization of existing commercial nuclear power plants, as well as the design of new and advanced power plants, including small modular reactors, in both the U.S. and Europe.”
The business: After the deal is finalized, Ultra Energy will operate within Curtiss-Wright’s Naval and Power business, which has supported the naval defense market for more than 150 years and the commercial nuclear market for more than 50 years. The business has provided pumps, valves, motors, and generators for the U.S. Navy’s nuclear fleet, as well as products for nuclear power plants domestically and internationally.
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