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Curtiss-Wright to Acquire Dyna-Flo Control Valve Services for CDN 81m
Monday 02 March 2020

2 March 2020 - North Carolina, US-based engineering firm Curtiss-Wright Corp. (NYSE: CW) has agreed to acquire the stock of Canada-based Dyna-Flo Control Valve Services Ltd. (Dyna-Flo) for CDN 81m (USD 62m) in a cash transaction, the company said.

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%.

Additional terms were not disclosed.

The acquisition of Dyna-Flo yields opportunities for growth by increasing the breadth of Curtiss-Wright's industrial valve portfolio with complementary products recognised for their critical performance in severe service environments.

This transaction supports the company's long-term financial objectives including increased sales growth, margin expansion and solid free cash flow generation.

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.

Curtiss-Wright Corp. delivers engineered, critical function products and services to the commercial, industrial, defense and energy markets.
Date Published: 02/03/2020
Target: Dyna-Flo Control Valve Services Ltd
Country: Canada
Deal Size: 62m (USD)
Sector: Machinery/Engineering
Type: Corporate acquisition
Financing: Cash
Status: Agreed
Buyer: Curtiss-Wright Corp