Centrus Energy acquires Westerman Holdings for $116 million
Centrus Energy Corp. announced that it has purchased Westerman Holdings LLC, a manufacturer of centrifuge components and industrial equipment, for approximately $116 million. The transaction was funded with about $95 million in cash on hand and $21 million of equity, and also includes the assumption of $31.5 million of notes, a $12.7 million loan and $10.5 million of transaction expenses. Westerman will operate as a subsidiary under its existing name, and its CEO Jacob Garrett will become President of Westerman and a Vice President of Centrus.
Why it matters
The company says the deal will be accretive to adjusted earnings per share in the first year after closing, providing immediate earnings upside for shareholders. The acquisition secures a critical centrifuge‑component supplier, diversifies Centrus’ revenue base and supports its multi‑billion‑dollar uranium enrichment expansion, which could improve long‑term growth prospects.
Key facts
- 1Centrus agreed to acquire Westerman for approximately $116 million. tradingview.com
- 2The purchase price was funded with roughly $95 million in cash and $21 million of equity. prnewswire.com
- 3The transaction also includes the assumption of $31.5 million in notes, a $12.7 million loan and $10.5 million of expenses. tradingview.com
- 4Westerman will become a subsidiary and continue to operate under the Westerman name. prnewswire.com
- 5Jacob Garrett, CEO of Westerman, will transition to President of Westerman and Vice President of Centrus Energy. stocktitan.net
- 6Centrus expects the acquisition to be accretive to adjusted EPS in the first year following closing. tradingview.com
Summary written by AlphAI AI Desk from 10 of 10 sources. Not investment advice. Figures are as stated by the linked sources.