Curtiss-Wright acquires Douglas Equipment
April 7, 2011, Parsippany, N.Y. - Curtiss-Wright Corporation today announced that it has acquired the assets of Douglas Equipment Ltd., a leading supplier of ground support vehicles for the defense and commercial aviation markets, for
approximately $20 million in cash.
The business will become part of Curtiss-Wright's Flow Control segment.
"The acquisition of Douglas provides a major opportunity to expand Curtiss-Wright's capabilities and presence in our core naval defense market," said Martin R. Benante, Chairman and CEO of Curtiss-Wright Corporation. "Douglas' products are a strategic fit with the aircraft handling systems currently manufactured by our Flow Control segment, and offer customers an expanded range of platform systems. Additionally, Douglas offers growth potential in the U.S. Navy and foreign navies worldwide, as well as the opportunity to expand into the adjacent market of commercial aircraft handling systems."
Founded in 1947, Douglas is a leading supplier of commercial aviation ground support vehicles, including a range of towbarless and conventional aircraft tractors and runway friction measuring devices. They sell to many of the world's leading airlines and ground handling companies. Douglas tractors are in use in the U.S., Canada, U.K., Italy, Greece, Germany, the Middle East, Africa, Australia, China and other Asia Pacific countries. Their defense products include a range of battery-operated traversers for moving helicopters and fighter jets for both ship and land-based deployment. Douglas' defense products are in use with the U.S. and other international navies, including the U.K., Italy, Australia, South Korea, New Zealand, South Africa, India, Japan, Germany and Saudi Arabia. Their aircraft handling special systems are also in use for fighter jet movement on land.
With sales of approximately $28 million in 2010, Douglas employs 135 people and is headquartered in Cheltenham, U.K., with two additional locations at Heathrow Airport, and a U.S. sales and service office in Atlanta, GA.