Austal USA announced this week that it has acquired privately held ElectraWatch, Inc. in an all cash stock purchase. The transaction is expected to be immediately accretive to earnings and the business will remain a standalone business, part of the Austal USA portfolio. Austal USA’s parent company, Austal, is an Australian-based global ship building company and defence prime contractor that specialises in the design, construction and support of defence and commercial vessels.
Headquartered in Charlottesville, Virginia, ElectraWatch is a technology leader in developing and deploying portable probe devices that help efficiently maintain aluminium structures.
Austal US said that the acquisition “reinforces” its position as a global leader in aluminium ship manufacturing and sustainment and extends its ability to support the U.S. Navy fleet where nearly every ship includes aluminium 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.”