On January 7, 2025, BWX Technologies, Inc. (NYSE: BWXT) announced a definitive agreement to acquire Toronto-based Kinectrics, Inc. for approximately US$525 million (C$712 million). The acquisition successfully closed on May 20, 2025.

Kinectrics is a leading provider of lifecycle management services for the nuclear power industry and plays a key role in the isotope supply chain for radiopharmaceuticals, particularly Lutetium-177 through its joint venture Isogen with Framatome. In 2024, the company is expected to generate around US$300 million (C$407 million) in revenue.

This acquisition significantly strengthens BWXT’s Commercial Operations segment, nearly doubling its workforce and expanding its global engineering and plant services capabilities. It also enhances BWXT’s position in the CANDU reactor market and increases its footprint in the U.S. and select international regions.

Kinectrics will operate as a subsidiary of BWXT, reporting financials under the Commercial Operations segment. David Harris will continue as President & CEO of Kinectrics under the BWXT umbrella.

Legal counsel for BWXT was provided by Suciu Partners and Hogan Lovells. The deal supports BWXT’s broader strategy to address the rising global demand for nuclear power solutions and medical isotopes in oncology.