Add-on Acquisition • Distribution

Meggitt Acquires Joslyn Sunbank Co.

On January 18, 2011, Meggitt acquired distribution company Joslyn Sunbank Co.

Acquisition Context
  • This is Meggitt’s 1st transaction in the Distribution sector.
  • This is Meggitt’s 5th transaction in the United States.
  • This is Meggitt’s 3rd transaction in California.
Investment Fate
  • Joslyn Sunbank Co. was divested to a consortium of strategic buyers in 2013 for 50M USD.

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M&A Deal Summary

Date January 18, 2011
Target Joslyn Sunbank Co.
Sector Distribution
Buyer(s) Meggitt
Deal Type Add-on Acquisition

Target Company

Joslyn Sunbank Co.

Paso Robles, California, United States
Sunbank is a supplier of connector accessories, backshells, and conduit systems for aerospace and industrial markets.
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Buyer Overview 1

Buyer

Meggitt

Coventry, United Kingdom

Category Company
Founded 1947
Sector Engineering
Revenue 1.6B GBP (2022)
DESCRIPTION

Meggitt provides engineering group specialising in extreme environment components and smart sub-systems for aerospace, defence and energy markets. Meggitt was founded in 1947 and is based in Coventry, the United Kingdom.


Deal Context for Buyer #
Overall 7 of 12
Sector: Distribution 1 of 1
Type: Add-on Acquisition 6 of 8
State: California 3 of 4
Country: United States 5 of 8
Year: 2011 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-18 Pacific Scientific Aerospace

Pacific Scientific specializes in supplying electric power, electric linear actuation, safety and security products to commercial (57% of sales) and military aerospace (43% of sales) customers. The business generated US$378 million in revenues and an operating profit of US$79 million in 2010. Meggitt expects the acquisition to be immediately earnings enhancing.

Buy $685M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-19 Precision Micro

Birmingham, United Kingdom

Precision Micro is a photochemical etching company supplying precision-etched metal components to exacting specifications. Precision Micro was established in 1983 and is based in Birmingham, United Kingdom.

Buy -