Meggitt buys Cobham's advanced composites unit

Division has facilities in Leicestershire and Hertfordshire

International engineering group Meggitt has agreed to acquire the advanced composites business of UK defence firm Cobham for $200 million.

Cobham's advanced composites business specialises in the design, development and production of highly engineered aerospace composite engine components (spinners, internal multi-stage components, exhaust flaps), radomes (C4I and defensive measures radomes, with a growing position in civil radomes) and complex secondary structures (air-to-air refuelling, structural munitions components).

The business will be integrated into Meggitt's Polymers & Composites (MPC) division.

Stephen Young, chief executive of Meggitt, said: "The acquisition represents a major step in strengthening our composites capability. The advanced composites businesses of Cobham are highly complementary to Meggitt's business model, with strong technology positions, a significant level of single-source content and substantial growth opportunities in commercial aerospace.

"The acquisition will enhance our materials and manufacturing technologies and product offerings in complex composites, which are key to next generation aircraft components."

The advanced composite business has operating facilities located in California and Maryland in the US and in Leicestershire and Hertfordshire in the UK. The business revenues were $81.1 million in 2014. 

The acquisition, which is conditional on regulatory clearances, is expected to complete in the fourth quarter of 2015.