Centrus buys key centrifuge supplier Westerman for about $116M

Nuclear fuel supplier Centrus Energy has acquired Westerman Holdings, one of its largest suppliers and a maker of centrifuge casings, for approximately $116 million, funded with about $95 million in cash and $21 million in equity. Centrus expects the deal to be accretive to adjusted EPS in year one.

Why it matters: Bringing a critical supplier in-house de-risks Centrus' planned multi-billion-dollar uranium enrichment expansion while adding non-nuclear revenue.