DAVIDSON, N.C.--(BUSINESS WIRE)--Curtiss-Wright Corporation (NYSE: CW) today announced that it has entered into an agreement to acquire the stock of 901D Holdings, LLC (901D) for $132 million in cash. 901D, a private company, 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 acquired business will operate within Curtiss-Wright's Defense segment. 901D 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%.

"The acquisition of 901D increases our footprint on critical U.S. Navy shipbuilding programs, as well as the breadth of our instrumentation and controls systems technologies,” said David C. Adams, Chairman and CEO of Curtiss-Wright Corporation. “The combination of 901D’s proven track record and Curtiss-Wright’s state-of-the-art electronic systems and software capabilities will allow us to provide shipboard solutions on both nuclear and non-nuclear powered vessels, and ensures that we are well-positioned to benefit from the continued expansion of our U.S. naval fleet. Further, this transaction reinforces our long-term financial objectives including increased sales growth, margin expansion and strong free cash flow generation.”

Founded in 1999, 901D’s solutions are utilized in mission-critical applications in the world’s harshest environments by protecting servers, weapons systems and other hardware aboard all major U.S. Navy aircraft carriers, submarines and surface ships. 901D is a critical supplier of 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 and is expected to generate sales of approximately $48 million in fiscal 2019, principally to the naval defense market. The acquisition is expected to close in December 2019, subject to the receipt of regulatory approval and other closing conditions.

About Curtiss-Wright Corporation

Curtiss-Wright Corporation (NYSE:CW) is a global innovative company that delivers highly engineered, critical function products and services to the commercial, industrial, defense and energy markets. Building on the heritage of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of providing reliable solutions through trusted customer relationships. The company employs approximately 9,000 people worldwide. For more information, visit www.curtisswright.com.