Curtiss-Wright [CW] said on Jan. 13 it has acquired Component Coating and Repair Services Limited (CCRS), which supports aerospace and industrial turbine applications, for $25 million in cash.
United Kingdom-based CCRS has about 100 employees and is expected to generate about $11 million in sales this year. The company, which will operate within Curtiss-Wright’s Commercial/Industrial segment, provides ultra-smooth and corrosion resistant coatings and precision airfoil services.
“The acquisition of CCRS adds new high-technology services to our Surface Technologies business that complement those of our existing engineered coatings offerings,” David Adams, Curtiss-Wright’s president and CEO, said in a statement. “This is consistent with our stated strategy to target small, strategic, bolt-on companies that we believe will enable us to achieve our objectives of margin expansion, strong cash generation and solid returns.”
Adams also said that his company plans to support Surface Technologies’ “strategic objective to advance up the technological chain and expand the breadth of their technology and customer bases.”