HEICO Corp. Acquires Aerospace & Commercial Technologies - Quick Facts

(RTTNews) - HEICO Corp. (HEI) announced it has acquired 80.1% of Aerospace & Commercial Technologies, a provider of products and services necessary to maintain up-to-date F-16 fighter aircraft operational capabilities. ACT's leadership team will continue to own 19.9% of ACT. HEICO expects the acquisition to be accretive to earnings within the first year following the acquisition.

Laurans Mendelson, HEICO's CEO, and Eric Mendelson, HEICO's Co-President, jointly stated, "This acquisition expands our reach into defense aftermarket support more actively and extends HEICO's business base in this important sector. We expect synergies from ACT's depth of engineering, manufacturing and repair capabilities and Blue's extensive position in international markets."