Curtiss-Wright has announced a potential $240 million cash transaction to purchase the assets of Safran Aerosystems Arresting, an Aston, Pennsylvania-based supplier of aircraft arresting systems used by global militaries.
Lynn Bamford, president and CEO of Curtiss-Wright and a previous Wash100 awardee, said in a statement published Friday the acquisition is aimed at expanding its global defense portfolio and securing the company’s position as a global provider of fixed-wing aircraft recovery and arresting systems.
Upon the closure of the agreement, SAA will be under the naval and power segment of Curtiss-Wright. The acquisition is expected to be completed in the third quarter of the year.
“The combination provides an opportunity to leverage our long-standing relationships with leading defense customers supporting critical defense platforms, such as the F-35, and is expected to yield significant opportunities for revenue growth, including increased foreign military sales,” added Bamford, who also noted that SAA aligns with Curtiss-Wright’s strategic priorities.
SAA’s portfolio includes energy absorbers and an Advanced Arresting Gear mechanical braking module used by Ford-class aircraft carriers of the U.S. Navy. The company also offers a range of related services such as civil engineering, maintenance and overhaul support.