Centrus Energy Acquires Westerman Holdings for Approximately $116 Million
Centrus Energy Corp. acquired 100% of the membership interests of Westerman Holdings, LLC, a U.S. equipment manufacturing and engineering firm focused on the energy sector, for approximately $116 million consisting of $95 million in cash and $21 million in shares of Centrus Class A common stock. At closing, Centrus also paid approximately $31.5 million to retire Westerman's subordinated notes and $12.7 million to repay its term loan facility, along with approximately $10.5 million of transaction expenses. The tr...
Key takeaways
Centrus acquired 100% of Westerman Holdings, LLC for approximately $116 million ($95 million cash + $21 million in Centrus Class A common stock / 165,342 shares), with closing on October 16, 2026.
At closing, Centrus additionally paid approximately $31.5 million to retire Westerman's subordinated notes, $12.7 million to repay its term loan facility, and approximately $10.5 million of transaction expenses.
The transaction secures a key supplier of centrifuge casings and other major centrifuge components, bringing manufacturing capability in-house to support Centrus's multi-billion-dollar uranium enrichment capacity expansion.
Westerman will continue operating under its existing brand and serves non-nuclear customers in oil and gas and other industrial sectors, diversifying Centrus's revenue base beyond nuclear.
The transaction is expected to be accretive to adjusted earnings per share in the first year following closing.
Barclays served as financial advisor and Wachtell, Lipton, Rosen & Katz served as legal counsel to Centrus; the seller was the Ventura Trust as trustee of the Westerman Employee Stock Ownership Trust.
Primary source
TickerStar generated this brief from an official company, investor-relations, earnings-call, or regulatory source. Review the primary material before making an investment decision.
Open SEC filingFollow LEU in real time
Get material earnings, filing, IR, and earnings-call alerts by email.