PIKETON, Ohio — Centrus Energy Corp., the company leading a multibillion-dollar uranium enrichment expansion at its American Centrifuge Plant in Piketon, announced it has acquired one of its key equipment suppliers for about $116 million.
Centrus said it bought Westerman Holdings LLC, a manufacturer that makes centrifuge casings and other major centrifuge components for Centrus, along with equipment for the oil and gas and other industrial markets. The deal was funded through roughly $95 million in cash and $21 million in company equity, according to Centrus.
Westerman, founded in 1909, has about 400 employees across four facilities in Ohio, Oklahoma and Wyoming, the company said. It will continue to operate under its own name as a subsidiary of Centrus.
Centrus said the acquisition secures a critical link in the supply chain for its previously announced expansion of uranium enrichment capacity, which spans the Piketon plant and a facility in Oak Ridge, Tennessee. Centrus has been building centrifuges for the Piketon project and has said it plans to keep adding jobs there, after raising its 2026 hiring goal to 175 new positions.
“Westerman is a highly regarded, best-in-class supplier and fabricator for Centrus, the broader nuclear industry, and a number of other sectors,” Amir Vexler, president and CEO of Centrus, said in a statement. “Bringing Westerman in-house demonstrates our commitment to securing our supply chain to support our build-out while adding to our capabilities and expanding our customer base.”
Jacob Garrett, Westerman’s CEO, will become president of Westerman and a vice president of Centrus under the deal.
“Joining with Centrus will allow us to accelerate that trajectory,” Garrett said in a statement. “Together, we can expand our production, deepen our nuclear manufacturing portfolio, and create new opportunities for our employees, our customers, and our communities.”
Centrus said the acquisition is expected to add to its adjusted earnings per share within the first year and to lower project costs through a more integrated supply chain. Barclays served as financial adviser and the law firm Wachtell, Lipton, Rosen & Katz served as legal counsel to Centrus in the transaction.
The information contained in this story was obtained from Centrus Energy Corp.
