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Woodward Completes HR Textron Acquisition

Posted on April 6, 2009

Woodward Governor Company completed the acquisition of all the outstanding shares of stock of HR Textron from Textron Inc. and substantially all the UK assets and certain liabilities related to the HR Textron business of Textron Limited. Woodward previously announced the signing of a definitive purchase agreement on February 27, 2009.

Fort Collins, Colo.-based Woodward paid $365 million and other related fees, which was financed with available cash, borrowings of $105 million under a revolving credit agreement and new term debt financing.

Woodward expects the deal to boost its growth in motion-control applications in the aerospace and defense markets

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