Houlihan Lokey Advises Cunico Corp. and Dynamic Controls Ltd.

Houlihan Lokey is pleased to announce that Cunico Corp. and Dynamic Controls Ltd. have been acquired by BWX Technologies, Inc. (NYSE:BWXT). The transaction closed on April 11, 2022.

Cunico Corp. and Dynamic Controls Ltd., owned by Jack Flowers for 35+ years, are critical suppliers of highly engineered proprietary valves, manifolds, and fittings for global naval nuclear and diesel-electric submarines, surface warfare ships, and commercial shipping vessels using liquified natural gas (LNG). For more than 70 years, the companies have been a supplier of difficult-to-manufacture and mission-critical products that are engineered and specified into highly complex submarine systems for shipbuilders and militaries worldwide.

The companies boast a global installed base of more than 61,000 proprietary cartridge valves and 87 main sea water systems on every nuclear-powered submarine in the United States and United Kingdom along with other global platforms in France, the Netherlands, Spain, and India. In addition to defense applications, the companies are the sole provider of proprietary cartridge valves and manifolds for gas valve trains on international cargo ships that utilize LNG technology.

Headquartered in Lynchburg, Virginia, BWX Technologies, Inc., is a leading supplier of nuclear components and fuel to the U.S. government; provides technical and management services to support the U.S. government in the operation of complex facilities and environmental remediation activities; and supplies precision manufactured components, services, and fuel for the commercial nuclear power industry. With approximately 6,250 employees, BWXT has 11 major operating sites in the U.S. and Canada.

Houlihan Lokey served as the exclusive financial advisor to Cunico Corp. and Dynamic Controls Ltd. Houlihan Lokey’s Aerospace, Defense & Government (ADG) practice within the global Industrials Group is a leading M&A advisor to aerospace, defense, and government services companies. Since 2020, the team has closed 60 transactions worth close to $12 billion in enterprise value. With a staff of approximately 30 investment bankers in Washington, D.C., London, and Los Angeles, Houlihan Lokey’s ADG practice is among the largest dedicated industry banking groups worldwide. In 2021, the Industrials Group was once again ranked as the No. 1 M&A advisor for all U.S. industrial transactions, according to Refinitiv.