BOULDER – Air Comm Corp., makers of environmental control systems for aircraft, has acquired the Keith Products division of Megitt (Addison), Inc., based in Addison, TX. Air Comm, located in Boulder, designs and manufactures Environmental Control Systems (ECS) used by military and civil rotorcraft and general aviation fixed wing aircraft.
The 30-year-old company has more than 60 active FAA Supplemental Type Certificates and OEM Type Certificates, including heating and air-conditioning systems, for more than a dozen OEM manufacturers. Customers include Bell, Sikorsky, Eurocopter, AgustaWestland, Enstrom, Beechcraft, Cessna, Learjet, Piaggio, Pilatus, and KAI.
"This transaction brings together two great companies,” says Executive Vice President Rick Steiner, one of Air Comm's owners. “I have no doubt our customers will benefit from the increased scale of resources available to support their thermal management technology requirements."
ACC President Keith Steiner adds, "Air Comm's acquisition of Meggitt-Addison brings full circle the technology and entrepreneurship that our father Norm started nearly 30 years ago that underpins both organizations."
The acquisition is reportedly a stock purchase transaction, but exact terms of the deal were not disclosed. Prudential Capital of Chicago provided the acquisition financing. Advisory services were provided by ANV Partners.