Weed Instrument acquired by Ultra Electronics Holdings
Weed Instrument Co. has been acquired by Ultra Electronics Holdings plc, a publicly quoted company listed on the London Stock Exchange. Weed, which was previously a privately owned company, designs and manufactures high-integrity temperature sensors, fiber optic converters and pressure transmitters for the civil nuclear power, aerospace and process industries. In the 12 months to September 2008, Weed had sales of approximately $19M and an operating profit of about $3.2M. The purchase price was $31.6M.
Douglas Caster, chief executive of Ultra, commented, “Ultra has specialized skills and domain knowledge relating to the sensors and controls systems that are required for the safe operation of modern nuclear reactors. This is a rising market in both the U.K. and North America – money must be spent on replacing and upgrading existing systems whilst creating the capability to support future new build. This acquisition gives Ultra a strong market position both sides of the Atlantic.”
There have been no personnel or organizational changes at Weed as a result of the acquisition and the company continues to operate from its Round Rock, Texas, facility. While the legal name of Weed Instrument Co., Inc. is being retained, to leverage the global brand of Ultra Electronics, the trading name of Weed Instrument has been changed to “Ultra Electronics, Nuclear Sensors & Process Instrumentation.” The new website address is www.ultra-nspi.com
Ultra Electronics, which employs over 3,000 people worldwide, focuses on high-integrity sensing, control, communication and display systems with an emphasis on integrated information technology solutions. The Group concentrates on obtaining a technological edge in niche markets, with many of its products and technologies being market leaders in their field.