An industrial move, Centrus Energy acquires Westerman Holdings for $116 million
Landon Capital News
Centrus Energy Corp. (LEU) has acquired Westerman Holdings, LLC, a supplier of centrifuge components and industrial fabrication services, for approximately $116 million, funded through roughly $95 million in cash and $21 million in equity.
Westerman, founded in 1909, operates approximately 400 employees across four facilities in Ohio, Oklahoma, and Wyoming. The company manufactures centrifuge casings and other major centrifuge components for Centrus, and also serves non-nuclear customers in oil and gas and other industrial sectors.
Centrus said the deal is expected to be accretive to adjusted earnings per share in the first year following closing. Westerman will operate as a subsidiary under its existing name.
Jacob Garrett, previously CEO of Westerman, will transition to President of Westerman and also become a Vice President of Centrus Energy.
“Bringing Westerman in-house demonstrates our commitment to securing our supply chain to support our build-out while adding to our capabilities and expanding our customer base,” said Amir Vexler, President and CEO of Centrus.
About Landon Capital
Landon Capital Inc. is a media company that wholly owns subsidiaries Landon Capital Management LLC and Landon Capital News. Landon Capital News distributes economic, and political news in over 176 countries. Landon Capital News provides an in depth and simplistic look at financial, economic, and political news, as it is happening. We also provide our viewers with in-depth analysis on various companies and political news that directly correlate to economics. We bridge the gap of information between the investor and the markets, sectors and industries that they invest. For more information, please contact us at info@landoncapital.net or 404-995-6671 or visit https://landoncapital.net.
Safe Harbor Statement
This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. Landon Capital received no direct compensation related to this release. This release contains certain forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Actual results may differ materially from those stated or implied in.
