Curtiss-Wright Corporation has entered into an agreement to acquire the stock of Dyna-Flo Control Valve Services Ltd. for $62 million. The acquired business will operate within Curtiss-Wright's Commercial/Industrial segment and is expected to be accretive to Curtiss-Wright's 2020 adjusted diluted earnings per share, excluding first year purchase accounting costs, and produce a free cash flow conversion rate in excess of 100%. Dyna-Flo’s financials are not included in the company’s initial 2020 guidance.
Founded in 1993 and headquartered in Edmonton, Alberta, Canada, Dyna-Flo’s core product offering addresses the majority of control valve applications with designs ranging from compact low profile to heavy duty severe service. Dyna-Flo has approximately 120 employees and is expected to generate sales of approximately $25 million in fiscal 2020, principally to the general industrial market. The acquisition is expected to close in March 2020.