Engineering group Meggitt (Christchurch, Dorset / UK; www.meggitt.com) has completed its USD 200m (EUR 189m) acquisition of the advanced composites business of Cobham (Wimborne, Dorset / UK; www.cobham.com). The businesses will be integrated into Meggitt Polymers & Composites.

Cobham designs, develops and produces highly engineered aerospace composite engine components, radomes and complex secondary structures. Its facilities are located in Shepshed, Leicestershire, and Stevenage, Hertfordshire, in the UK, as well as in San Diego, California, and Baltimore, Maryland, in the USA. Revenues in 2014 amounted to USD 81.1m.

Steven Young, Group CEO of Meggitt, said the acquisition was highly complementary with strong technology positions, a significant level of sole-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,” he stated.

Meggitt expects to achieve cost synergies of approximately USD 3.8m from 2017, with up-front costs of USD 4.3m. It also expects the acquisition to be enhancing earnings immediately.