BWXT to acquire Kinectrics in “complementary” $525M deal
Nuclear manufacturer BWX Technologies has announced its plan to acquire Kinectrics Inc. for approximately $525 million. The deal is expected to close in mid-2025.
With global headquarters in Ontario, Canada, Kinectrics is a self-described electricity life cycle solutions company with roots dating back more than a century. BWXT is a leading supplier of nuclear components and fuel, with corporate headquarters in Lynchburg, Va.
According to BWXT’s January 7 news release, “The acquisition [of Kinectrics] is highly complementary to BWXT’s commercial operations segment and will enable an expanded portfolio of products and services for current and new customers in the global nuclear power and radiopharmaceutical industries.”
Quotable: “This acquisition expands our ability to deliver end-to-end solutions to existing and new customers more efficiently. The investment uniquely brings together two industry leaders with complementary expertise and service offerings in the growing commercial nuclear power and nuclear medicine markets,” said John MacQuarrie, president of BWXT Commercial Operations.
A closer look: Kinectrics, which is expected to close out 2024 with a total generation of $300 million in its two core business areas of commercial power services and nuclear medicine, will strengthen BWXT’s position in the CANDU market and draw more attention from the U.S. and international markets, according to the news release.
In commercial power, Kinectrics supports all stages of the nuclear plant life cycle, from design to distribution. On the medical side, Kinectrics offers isotope irradiation and production technology. The company also has played a critical role in the supply chain for lutetium-177, which is being used in precision oncology to treat various cancers.
Kinectrics has more than 1,300 engineers and technical experts worldwide; BWXT employs roughly 7,800 people.
As part of its growth strategy, BWXT announced in April a $60 million expansion at the company’s Cambridge, Ontario, facility, with plans to increase the plant’s footprint by 25 percent and add more than 200 jobs at the site. The investment aims to support ongoing investment in small modular reactors and traditional large-scale nuclear facilities in Canada and around the globe.
