Centrus Energy Acquires Westerman Holdings for $116 Million
BETHESDA, Md., Oct. 19, 2026. Centrus Energy Corp. has acquired Westerman Holdings, LLC for approximately $116 million, a transaction funded by $95 million in cash and $21 million in equity. The company stated that the acquisition is expected to be accretive to adjusted earnings per share in the first year following closing.
BETHESDA, Md., Oct. 19, 2026. Centrus Energy Corp. has acquired Westerman Holdings, LLC for approximately $116 million, a transaction funded by $95 million in cash and $21 million in equity. The company stated that the acquisition is expected to be accretive to adjusted earnings per share in the first year following closing.
Westerman, founded in 1909, operates as a supplier of centrifuge casings and other major components for Centrus. By bringing this supplier in-house, Centrus intends to secure its supply chain and expand Westerman's manufacturing capabilities. The acquisition also diversifies Centrus' revenue base by integrating Westerman's existing business with non-nuclear customers in sectors such as oil and gas.
Amir Vexler, President and CEO of Centrus, described Westerman as a best-in-class supplier for the nuclear industry and other sectors. He stated that the move supports the company's commitment to securing its supply chain while expanding its customer base. Vexler expressed confidence that the transaction will unlock value for shareholders.
Jacob Garrett, CEO of Westerman, will transition to the role of President of Westerman and become a Vice President of Centrus Energy. Garrett noted that Westerman has spent more than a century building advanced manufacturing capabilities. He said joining Centrus will allow the company to accelerate production and deepen its nuclear manufacturing portfolio.
Westerman will continue to operate under its own name as a subsidiary of Centrus. The company employs approximately 400 people and operates four facilities in Ohio, Oklahoma, and Wyoming. Its product portfolio includes upstream and midstream oil and gas production equipment, engineered industrial systems, and nuclear-grade products such as UF6 cylinders.
The acquisition supports Centrus' previously announced multi-billion-dollar expansion of uranium enrichment capacity. Centrus stated that the addition of Westerman is expected to result in lower project costs and greater efficiencies through an integrated supply chain.
Barclays served as the financial advisor to Centrus for the transaction. Wachtell, Lipton, Rosen & Katz served as legal counsel. The news release includes forward-looking statements regarding future events that could impact business performance, citing factors such as geopolitical conflicts, government funding levels for High-Assay Low-Enriched Uranium, and competition from foreign producers.