HEICO completes acquisition of AeroAntenna
HEICO Corporation of Hollywood, FL announced on September 15 that its Electronic Technologies Group completed the acquisition of AeroAntenna Technology, Inc. (“AeroAntenna”), HEICO’s largest-ever acquisition. On August 18, 2017, HEICO announced it had entered into an agreement, subject to regulatory approval which was subsequently received, to acquire AeroAntenna. The purchase was completed under the previously announced terms.
HEICO expects the acquisition to be accretive to its earnings per share within the year following acquisition. The Company did not release further financial details.
Chatsworth, CA-based AeroAntenna is a leader in the design and production of high performance active antenna systems for critical defense applications, precision guided munitions, commercial aircraft and other commercial uses. AeroAntenna is a known leader in numerous antenna types, including GPS, aircraft navigation and satellite communications antennas.
HEICO stated that AeroAntenna will continue to operate in its current location with its current management team in place and that it does not expect any material staff turnover to result from the acquisition.