Smiths Group announced today that it is acquiring Integrated Aerospace, a privately owned, California-based supplier of specialist landing gear systems, for £61 million cash.
Integrated Aerospace is a supplier of landing gear products for small aircraft including US military helicopters, fighter aircraft, business jets and unmanned aerial vehicles (UAVs).
“Integrated Aerospace is a strong addition to our actuation and aerial refuelling systems businesses,” commented Dr John Ferrie, group managing director of UK-based Smiths Aerospace.
“This acquisition now enables Smiths to provide complete landing gear systems for helicopters, business jets and the rapidly expanding market for UAVs,” added Dr Ferrie. “It also significantly expands our capability in aerial refuelling systems.”
In the 12 months to September 2004, the turnover of Integrated Aerospace totalled £28 million. The acquisition is expected to be complete by November, subject to regulatory approvals.