Curtiss-Wright Corporation has acquired Cimarron Energy Inc., through the acquisition of its parent company Cimarron Energy Holding Company LLC, for approximately USD$135.1 million.
“With the acquisition of Cimarron, Curtiss-Wright is diversifying from our current downstream refining segment into the emerging, high growth U.S. shale oil and gas market in the upstream and midstream segments of the industry,” said Chairman and CEO of Curtiss-Wright Corporation, Martin R. Benante. “Its products and services expand our mission-critical, production-focused flow control offerings for the oil and gas industry, and also offer new, high growth production lines focused on the environmental aspects of hydraulic fracturing.”
Cimarron is a leading manufacturer of highly customized and engineered energy production, processing and environmental solutions for the U.S. oil and gas industry. The business will become part of Curtiss-Wright’s Flow Control segment.
“In addition, Cimarron provides significant opportunities for Curtiss-Wright to build new market share in the U.S. and Canada, as well as international markets,” said Benante. “The U.S. has vast reserves of shale oil and natural gas that will help drive the country towards energy independence. We are excited about further diversifying our product portfolio into the robust upstream and midstream markets.”