ROSELAND, N.J., 7 Mar. 2009. Curtiss-Wright Corp. has acquired all of the stock of EST Group Inc. for approximately $40 million in cash. EST Group is a provider of highly engineered products and comprehensive repair services for heat management and cooling systems used in the energy and defense markets. The business will become part of Curtiss-Wright's Flow Control segment.
"The acquisition of EST Group provides major growth opportunities in our core markets - nuclear power, oil and gas and naval defense," says Martin R. Benante, CEO and chairman of Curtiss-Wright Corp. "EST Group's expertise in heat management and cooling systems enables us to offer total life-cycle management for critical processes and positions us as a key supplier in the heat management business."
Founded in 1968, EST Group has three operating segments: Expansion Seal Technologies (EST), EST Heat Exchanger, and EST Field Services.
With 2008 sales of nearly $20 million, EST Group employs 99 people and is headquartered in Hatfield, Pa., with two other U.S. locations in Baton Rouge, La., and Baytown, Texas, and a European sales office in the Netherlands.