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Meggitt Safety Systems history
Meggitt Safety Systems company history timeline
1983: Nigel McCorkell and Ken Coates lead management buy-in.
Nigel McCorkell and Ken Coates, directors at nearby Flight Refuelling Ltd., came to see the company as a prospective launching pad for future acquisitions. It lost £180,000 on sales of less than £4 million in 1983.
Meggitt posted a profit of £354,000 for fiscal 1984 after three years of losses.
Towards the end of 1985, Meggitt bought Holsworthy for £3.5 million in cash and stock.
1986: With help of BTR, Meggitt accomplishes hostile takeover of much larger Bestobell.
The company spent $40 million in 1988 to buy Plastic Fabricating of Kansas and New York's Ragen Data Systems.
The USH Fiasco of 1989
Meggitt posted pretax profits of £23.5 million on sales of £302 million in 1991.
BTR sold its 17.2 percent stake in Meggitt in April 1993.
Sales were £345.5 million in 1994, producing profits of just £14.8 million.
1995: New management, led by Mike Stacey, is appointed as Meggitt restructures.
Nigel McCorkell resigned as deputy chairman in January 1996, although the timing, said some, 'was not of his choosing.' By the summer, he had taken a position as chairman at newly created Cork Industries.
In the fall of 1996, Meggitt bought Cartwright Electronics, a United States-based electronic target scoring systems manufacturer.
Pretax profits had risen 30 percent to £31.5 million in 1997 as sales rose four percent to £265 million.
In 1998, Meggitt bought Vibro-Meter SA, a complement to its Endevco business.
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Meggitt Safety Systems competitors
Company Name  | Founded Date | Revenue | Employee Size | Job Openings |
|---|---|---|---|---|
| United Launch Alliance | 2006 | $1.3B | 2,500 | 14 |
| Hamilton Sundstrand | 1999 | $6.2B | 17,158 | - |
| Bell Flight | 1960 | $12.9B | 10,200 | 156 |
| Freescale Semiconductor Holdings V Inc | 2006 | $4.6B | 16,800 | - |
| United Space Alliance | 1995 | $2.0B | 2,500 | - |
| Frontier Electronic Systems | 1973 | $24.0M | 100 | 3 |
| McDonnell Douglas Helicopter Systems | 1980 | - | 4,300 | - |
| DeAmertek | 1977 | $34.0M | 350 | - |
| Advanced Energy Industries | 1981 | $1.8B | 10,000 | - |
| FormFactor | 1993 | $747.9M | 1,676 | 76 |
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Meggitt Safety Systems may also be known as or be related to Meggitt Safety Systems, Meggitt USA Inc, Meggitt-USA, Inc. and Meggitt-Usa, Inc.