BWX Technologies [BWXT] in April acquired Cunico Corp. and Dynamic Controls Ltd., sister companies that manufacture parts for global naval ships and submarines and liquified natural gas commercial shipping vessels.
The investment firm Houlihan Lokey
, which advised Cunico and Dynamic Controls, announced the deal on Tuesday. Cunico, which is based in California, and Dynamic Controls, which is based in the United Kingdom, were owned and operated by Jack Flowers for decades.
BWX Technologies, which manufactures naval nuclear reactors and fuel, and commercial nuclear products, said in May in its first quarter earnings filing with the Securities and Exchange Commission that the price for the companies was $49.9 million.
Dynamic and Cunico provide highly-engineered proprietary valves, manifolds and fittings for naval nuclear and diesel electric submarines, surface warfare ships, and commercial shipping vessels. The companies have a global installed base of more than 61,000 cartridge vales and 87 main sea water systems on every nuclear-powered submarine in the U.S. and U.K., and other platforms in France, the Netherlands, Spain and India, Houlihan Lokey said.