Cobham to sell aerial refuelling business to Eaton

Power management company Eaton has agreed to acquire Cobham Group’s Cobham Mission Systems (CMS) business for USD2.8 billion, expanding its defence portfolio, Eaton announced on 1 February 2021.

CMS makes air-to-air refuelling systems and has delivered more than 2,000 of them to defence customers for fixed-wing and rotary-wing aircraft. Its other military products include actuation devices and environmental control systems.

“Cobham Mission Systems’ complementary products and strong position on growing defence platforms will enhance our fuel systems business and position our Aerospace business for future growth,” said Heath Monesmith, president and chief operating officer of Eaton’s Industrial sector.

Eaton’s existing defence offerings include aerial refuelling parts such as couplings, hoses, nozzles, pumps, and valves. It also makes ground refuelling equipment for aircraft.

CMS is based in Davenport, Iowa, in the United States, and has additional locations in England’s Dorset county and the US state of New York. Its recent milestones include being selected by Sabena technics to support the French Air Force’s KC-135 refuelling tankers; participating in a flight test of Boeing’s MQ-25 unmanned refuelling plane; and receiving a US Navy contract to provide pilot oxygen equipment for F/A-18 fighters.

Eaton, which is headquartered in Dublin, Ireland, said it expects to close the acquisition in the second half of 2021.

The transaction is the latest in a series of divestitures that UK-based defence and aerospace company Cobham has pursued since it was acquired by US private equity firm Advent International in January 2020. Cobham has also sold antenna and radio manufacturer Cobham Aerospace Connectivity (CAC); training provider Aviation Services UK; and its 13% stake in tanker maintenance joint venture AirTanker Ltd.