Pine Island Capital completed the acquisition of Meggitt Training Systems for $146m.

Pine Island Capital Partners, a mid-market private equity firm, completed the acquisition of Meggitt Training Systems, a supplier of integrated live fire and simulation weapons training systems, from Meggitt, a company specialising in high-performance components and sub-systems for the aerospace, defence and energy markets, for $146m. "The transaction is consistent with the group's strategy to focus on businesses of scale in markets where its leading positions offer greater potential for growth and operational efficiencies. The net proceeds will be used by the group for general corporate purposes and will further strengthen the group's liquidity," Meggitt.