Centrus to Acquire Westerman for $116 Million to Boost Centrifuge Component Manufacturing
Key Facts
Centrus Energy completed its purchase of all of Westerman Holdings’ equity on October 16, 2026, for about $116 million, making the component manufacturer a wholly owned supplier. Centrus paid about $95 million in cash and $21 million in Class A shares, according to its filing with the U.S. Securities and Exchange Commission. Westerman produces centrifuge casings and other key components for Centrus, which said bringing the supplier in-house strengthens supply-chain resilience and reduces risk. The deal, according to the company, supports a previously announced expansion of uranium-enrichment capacity. Centrus also expected the deal to be accretive to adjusted earnings per share in the first year after closing.
Centrus said Westerman will support its enrichment expansion by manufacturing components needed for centrifuges, and that bringing the supplier into the group is expected to lower project costs and improve the efficiency of its integrated supply chain. The company did not cite demand for nuclear fuel as a stated reason for the acquisition; instead, it linked the deal to supply resilience and the expansion it had previously announced. The arrangement combines ownership of an existing component supplier with the enrichment business Centrus is seeking to expand. The deal’s commercial reach extends beyond nuclear operations, as Westerman serves customers in oil and gas and other industrial sectors. Centrus said this customer base broadens its revenue beyond its core nuclear business.
Westerman’s products include equipment for upstream and midstream oil and gas production, engineered industrial systems, and nuclear-grade products including uranium hexafluoride cylinders. This range means the acquired company combines centrifuge-component manufacturing with operations serving other sectors. According to Centrus, its non-nuclear customer base includes companies in oil and gas as well as a range of industries. The company described the deal as expanding its revenue base beyond nuclear fuel, while its announcement did not single out any one product as its primary objective. Founded in 1909, Westerman had about 400 employees and four facilities in Ohio, Oklahoma and Wyoming when the deal was announced.
Centrus says it has a long track record of supplying fuel to utility customers; since 1998, it has provided them with more than 1,850 reactor-years of fuel, which the company equates to more than 7 billion tons of coal. This nuclear business provides the backdrop for an acquisition that adds component manufacturing to its operations, alongside revenue from customers outside the nuclear sector. Centrus shares, which trade under the ticker LEU, closed at $104.15 on October 22, 2026, according to EL7 data. That closing price alone does not establish a link between the share move and the deal. Centrus said Westerman will continue operating under its current name as a subsidiary.
Centrus is scheduled to report third-quarter earnings before its conference call with shareholders and the financial community on November 5, 2026. The call begins at 8:30 a.m. Eastern time, according to the investor relations announcement. The report follows the completion of the Westerman deal in October, making the third-quarter results the first announced event after the closing. The company said it expects the deal to support adjusted earnings per share in the first year after closing. It also said integrating the supplier is expected to reduce project costs and improve supply-chain efficiency.