Meggitt to acquire EDAC composite division from Greenbriar for $340m.

Meggitt, an international engineering group specializing in aerospace, defence, and energy markets, has agreed to acquire the composites division of EDAC, which offers design and manufacturing services for the aerospace industry from Greenbriar Equity for $340m. Combined with the existing composite activities of Meggitt, this acquisition will create a world-class franchise in high-growth niche composite components focusing on engine components, secondary structures, ice protection, and radomes. The combined businesses put the Group in an excellent position to build on the increasing requirement for high-integrity composite components in aerospace markets. “Our product portfolio will be significantly enhanced by these composites acquisitions, and we will benefit from decades of expertise in the complex processes required to manufacture high-integrity composite components in volume. These capabilities will enable us to better address the increasing demand for composites, particularly around the engine and ancillary systems,” Stephen Young, Meggitt Group Chief Executive.