Meggitt PLC has paid $32 million for a Texas manufacturer of air conditioning, heating and ventilation systems for business and general aviation aircraft, the company has announced. The acquisition makes Keith Products a part of the Meggitt’s aerospace equipment group, based in Simi Valley. Meggitt, based in England, will pay $30 million cash for the company upon completion of the deal, and an additional $2 million after two years based upon reaching agreed sales figures in 2006 and 2007. “The acquisition of Keith Products Group adds a high level of expertise in our capabilities to provide compact thermal management systems and components for general aviation,” said John Stobie, president of the Meggitt Aerospace Equipment Group, in a statement. The aerospace group also includes Whittaker Controls in North Hollywood and Avica Inc. and Meggitt Safety Systems Inc. both based in Simi Valley.
