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TheStreet Open House

Air Comm Corporation (ACC) Acquires Meggitt (Addison)

BOULDER, Colo., May 23, 2013 /PRNewswire/ -- Colorado based Air Comm Corporation (ACC) announced today it has completed the acquisition of Texas based Meggitt (Addison), Inc., formerly Keith Products. Air Comm Corporation is the world leader in engineered design and manufacture of Environmental Control Systems (ECS) used by military and civil rotorcraft and general aviation fixed wing aircraft. The nearly 30 year old family-owned business now has over 60 active Federal Aviation Administration Supplemental Type Certificates and OEM Type Certificates including heating and air-conditioning systems for over a dozen OEM manufacturers including:  Bell, Sikorsky, Eurocopter, AgustaWestland, Enstrom, Beechcraft, Cessna, Learjet, Piaggio, Pilatus, and KAI.

According to Executive Vice President Rick Steiner, one of Air Comm's owners, "This transaction brings together two great companies - I have no doubt our customers will benefit from the increased the scale of resources available to support their thermal management technology requirements, overcome and manage FAA certification challenges, and provide the sustainment support and services that are essential for ECS systems." 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. We are very grateful to our employees, their families, and to our loyal customers who continue to support and take pride in the ACC brand. We look forward to the next 30 years."

Prudential Capital of Chicago provided the Acquisition Financing. ANV Partners provided Transaction and Financial Advisory. General counsel for Buyer was Ballard Spahr, for the Lender Schiff Hardin, and for the Seller Kaye Scholer.

SOURCE Air Comm Corporation

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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