Centrus Energy Buys Centrifuge Supplier Westerman for $116 Million

Centrus Energy Corp. (LEU ) announced on October 19, 2026, that it has acquired Westerman Holdings, LLC, one of the nuclear fuel supplier’s largest and most diversified suppliers, for approximately $116 million. The transaction was funded through a combination of approximately $95 million of cash on hand and $21 million of equity. Centrus said it expects the acquisition to be accretive to adjusted earnings per share in the first year following the closing.

Westerman is an existing manufacturer of centrifuge casings and other major centrifuge components for Centrus, a supplier of nuclear fuel and services for the nuclear power industry. Centrus said the addition of Westerman supports its previously announced multi-billion-dollar expansion of uranium enrichment capacity and that it intends to secure the key supplier while expanding Westerman’s capabilities.

Centrus said the acquisition builds supply chain resilience by securing and bringing in-house critical manufacturing capabilities while broadening its manufacturing platform, customer base, and future revenue opportunities through commercial and operational synergies. Westerman currently services non-nuclear customers across industries including oil and gas and other high-growth industrial sectors, which Centrus said diversifies its revenue base beyond its core nuclear business by expanding its addressable market with significant adjacent, non-nuclear manufacturing work. The company also said it expects the transaction to deliver lower project costs and greater efficiencies with an integrated supply chain, with synergies and cost savings it said will drive continued growth for both organizations.

“Westerman is a highly regarded, best-in-class supplier and fabricator for Centrus, the broader nuclear industry, and a number of other sectors,” said Amir Vexler, President and CEO of Centrus. “Bringing Westerman in-house demonstrates our commitment to securing our supply chain to support our build-out while adding to our capabilities and expanding our customer base. We are committed to growing and expanding Westerman alongside our enrichment business, and are confident that this transaction will unlock significant value for our shareholders.”

Centrus acquired all of Westerman’s business lines, and Westerman has become a subsidiary within Centrus. The subsidiary will continue to operate under the Westerman name, leveraging its brand identity and customer relationships.

Jacob Garrett, who had served as Westerman’s chief executive officer, will transition to President of Westerman and will also become a Vice President of Centrus Energy. “Westerman has spent more than a century building advanced, differentiated manufacturing capabilities,” Garrett said. “Joining with Centrus will allow us to accelerate that trajectory. Together, we can expand our production, deepen our nuclear manufacturing portfolio, and create new opportunities for our employees, our customers, and our communities.”

Founded in 1909, Westerman is an industrial fabrication manufacturer with approximately 400 employees and four facilities in Ohio, Oklahoma, and Wyoming. Its products span upstream and midstream oil and gas production equipment, engineered industrial systems, and nuclear-grade products including UF6 cylinders.

Ohio Expansion Preceded the Acquisition

The acquisition follows an expansion program JobsOhio announced on August 24, 2026, under which Westerman committed to invest $51.5 million to expand its longtime headquarters operation in Bremen and establish a new manufacturing site in Hebron. JobsOhio said the two projects will create 345 jobs representing more than $21.7 million in new annual payroll.

In Bremen, where Westerman has built equipment for the energy industry for 117 years, the company committed to invest $6.5 million to increase production for its energy customers. According to JobsOhio, that project will create 210 jobs with $13.3 million in new annual payroll, building upon 152 existing positions at the operation, which is located at 245 N. Broad St.

In Hebron, Westerman committed $45 million to establish a new manufacturing operation that will create 135 jobs with $8.42 million in new annual payroll. JobsOhio said the Hebron site, located at 470 John Alford Parkway, is being established primarily to support the large-scale expansion of Centrus Energy’s American Centrifuge Plant in Piketon. JobsOhio said the dedicated operation will extend Westerman’s nuclear manufacturing work into Licking County and give Westerman added capacity to serve its growing nuclear industry clients while supporting the Piketon expansion.

JobsOhio described Westerman as a designer and manufacturer of highly specialized equipment used across the energy sector, serving oil and natural gas customers and supporting nuclear applications that demand exacting safety and quality standards.

Barclays served as financial advisor to Centrus, and Wachtell, Lipton, Rosen & Katz served as legal counsel to Centrus for the transaction.