Financial Advisor
Safran
M&A Advisory
Has Sold
Safran Aerosystems Arresting Company (SAA)
To
Transaction Details
- On June 30, 2022, Safran SA (“Safran”) completed the sale of the Safran Aerosystems Arresting Company (“SAA”) to Curtiss-Wright Corporation (NYSE: CW) for $240 million in cash.
- The acquired business will operate within Curtiss-Wright's Naval & Power segment. Curtiss-Wright announced: “SAA generated sales of approximately $70 million in 2021, and it is expected to be accretive to Curtiss-Wright's adjusted diluted earnings per share in its first full year of ownership and produce a strong free cash flow conversion rate well in excess of 100%.”
- “The acquisition of the Safran arresting systems business increases the breadth of our global defense portfolio and firmly establishes Curtiss-Wright as a leading global supplier of fixed-wing aircraft recovery and arresting systems,” said Lynn M. Bamford, President and CEO of Curtiss-Wright Corporation.
About the company
Safran Aerosystems Arresting Company (SAA)
SAA is a designer and manufacturer of mission-critical, fixed-wing aircraft emergency arresting systems with a strong installed base of more than 5,000 systems worldwide including sales to more than 70 countries. Through its predecessor companies, SAA created the first aircraft arresting system in 1960 and today is a world leader in land-based military arresting systems. Its diverse product portfolio supports aircraft carrier and fixed land-based arresting systems. SAA, which employs nearly 140 people, is based in Aston, Pa., and also maintains operations in Merpins, France.
Curtiss-Wright Corporation
Curtiss-Wright Corporation (NYSE:CW) is a global integrated business that provides highly engineered products, solutions and services mainly to Aerospace & Defense markets, as well as critical technologies in demanding Commercial Power, Process and Industrial markets. Building on the heritage of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of providing innovative solutions through trusted customer relationships. The company leverages a workforce of 7,800 highly skilled employees.
Source: Curtiss-Wright press releases.
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