Austal Acquires ElectraWatch
Shipbuilder Austal USA announced today it has acquired privately held ElectraWatch, Inc. in an all cash stock purchase.
Headquartered in Charlottesville, Va., ElectraWatch develops and deploys portable probe devices that help maintain aluminum structures. According to Austal USA, the acquisition reinforces its position in aluminum ship manufacturing and sustainment and extends its ability to support the U.S. Navy fleet where nearly every ship includes aluminum structures.
“The combination of ElectraWatch patented technology along with Austal USA’s advanced ship manufacturing and sustainment expertise reinforces the company’s position as an industry leader to efficiently support the aggressive shipbuilding and sustainment requirements from our U.S. Navy customer,” said Craig Perciavalle, president of Austal USA. “As innovative technology reaches deeper into shipbuilding construction and sustainment, we remain laser focused at providing cost-effective solutions to our customers.”
The transaction is expected to be immediately accretive to earnings and the business will remain a standalone business, part of the Austal USA portfolio.
As both the designer and prime contractor, Austal USA manufactures the Independence-variant Littoral Combat Ship (LCS) and Expeditionary Fast Transport (EPF) for the U.S. Navy with both programs on schedule and on budget. The company delivers two LCS and two EPF per year with the capacity to increase its manufacturing rate at its 166-acre facility and headquarters in Mobile, Alabama. Eight LCS (even numbered LCS 2 through 16) and nine EPFs (T-EPF 1-9) have been delivered to date. Austal USA was also one of five prime contractors awarded a concept design contract for the U.S. Navy’s future guided missile Frigate (FFG(X)) while its EPF is also being considered to support permanent medical ship operations.