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British Industrial History

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Meggitt

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Meggitt PLC is a British-based engineering business specialising in aerospace equipment.

of Bournemouth Airport in Dorset

1947 Formation of Meggitt Engineering in Wimborne[1]

1964 Willson Lathes acquired Meggitt Engineering and changed its name to Willson-Meggitt Holdings.

1966 Stock market listing[2]

By 1967 was known as Meggitt Holdings, machine tool makers[3]

1968 Acquired Radalec Engineering of Co. Durham[4]

By 1973 was based in London[5]

1976 Acquired Hayward and Sons, machine tools[6]

1983 acquired by Nigel McCorkell and Ken Coates together with 3i Group in a management buy-in who indicated an intention to revitalise the company by acquisitions.

1985 Acquired defence and instrumentation business Negretti[7]

1985 Acquired Holsworthy Electronics, electronic components business[8]

1986 bought Bestobell, a larger defence, aviation and instrumentation engineering business; BTR supported the bid with 29 percent of the shares in Bestobell[9], which gave it a substantial holding in Meggitt.

1986 Acquired Whitcol Precision Engineering of Sandhurst[10]

1987 Acquired BAJ Holdings, a defence and aerospace company formed as the result of a management buyout from Vickers in 1985[11], and Serck Baker from BTR[12]

1987 The Negretti Aviation subsidiary won a contract to supply aircrew respirators to the US Marine Corps[13]

1988 Acquired Plastic Fabricating of Wichita, maker of composites, and Ragen Data Systems of Long Island, maker of aerospace instruments[14]; acquired Coltax Aerospace, an aircraft repair and overhaul company[15], Microsystems Group[16] and KDG Holdings, process control groups[17]

1988 The Aerospace and Defence Division, of Wimborne, included[18]:

1989 Acquired Nacesa, a Spanish electronics components company, which was Europe's only maker of variable resistors[19]

1989 of the 4 divisions of the company, Aerospace was the largest; Controls and Instrumentation was also substantial[20]

Early 1990s - more than 20 non-core businesses were sold.

2004 Acquired the aircraft wheels and brakes business of the Dunlop Standard Aerospace Group for £793 million; the rest of the company (engine repair) was acquired by Carlyle Group[21].

2007 Meggitt acquired K. and F. Industries, the parent company of the Aircraft Braking Systems Corporation, for circa £930 million.

2010 Meggitt acquired Pacific Scientific Aerospace from Danaher.

2015 Turnover £1.6bn. Employs 12,000 persons worldwide with 3,000 in the UK.[22]

See Also

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Sources of Information

  1. The Times, July 04, 2005
  2. The Times, July 04, 2005
  3. The Times, Jan 24, 1967
  4. The Times, Jul 31, 1968
  5. The Times, Jan 25, 1973
  6. The Times, Dec 03, 1976
  7. The Times, Jul 02, 1985
  8. The Times, Dec 07, 1985
  9. The Times, July 16, 1986
  10. The Times, October 06, 1986
  11. The Times, June 06, 1987
  12. The Times, July 31, 1987
  13. The Times, March 17, 1987
  14. The Times, May 06, 1988
  15. The Times, May 17, 1988
  16. The Times, September 02, 1988
  17. The Times, November 11, 1988
  18. The Times, September 05, 1988
  19. The Times, February 07, 1989
  20. The Times April 05, 1989
  21. The Times, July 06, 2004
  22. 2015 Annual Report p2