HEICO Corporation Completes EthosEnergy Accessories and Components Acquisition | National

Ethos A&C is expected to be accretive to HEICO’s earnings within the year following closing. Other transaction terms and financial details were not disclosed.

Ethos A&C repairs a large portfolio of engine accessories including fuel nozzles, wire harnesses, starters, valves, plenum assemblies, air diffusers, and engine components including blades, vanes, seals, and other related components.

Ethos A&C has grown from its inception in 1979 into a leading provider of engine component and accessory repair solutions for the aeroderivative gas turbine, aerospace, and defense markets. Ethos A&C has 175 employees at three leased locations in Connecticut, South Carolina and Scotland, spanning over 175,000 square feet.

Eric A. Mendelson and Victor H. Mendelson, HEICO’s Co-Chairmen and Co-Chief Executive Officers, together with Shawn Trogdon, Wencor’s Chief Executive Officer, commented: “We are excited to welcome Ethos A&C to the Wencor and HEICO families. Bringing our teams together strengthens our capabilities in the aeroderivative industrial gas turbine market and expands our ability to serve customers worldwide as energy demand continues to grow.”

HEICO Corporation is engaged primarily in the design, production, servicing and distribution of products and services to certain niche segments of the aviation, defense, space, medical, telecommunications and electronics industries through its Hollywood, Florida-based Flight Support Group and its Miami, Florida-based Electronic Technologies Group. HEICO’s customers include a majority of the world’s airlines and overhaul shops, as well as numerous defense and space contractors and military agencies worldwide, in addition to medical, telecommunications and electronics equipment manufacturers. For more information about HEICO, please visit our website at https://www.heico.com.

Certain statements in this press release constitute forward-looking statements, which are subject to risks, uncertainties and contingencies. HEICO’s actual results may differ materially from those expressed in or implied by those forward-looking statements. Factors that could cause such differences include, among others: the severity, magnitude and duration of public health threats; our liquidity and the amount and timing of cash generation; lower commercial air travel, airline fleet changes or airline purchasing decisions, which could cause lower demand for our goods and services; product specification costs and requirements, which could cause an increase to our costs to complete contracts; governmental and regulatory demands, export policies and restrictions, reductions in defense, space or homeland security spending by U.S. and/or foreign customers or competition from existing and new competitors, which could reduce our sales; our ability to introduce new products and services at profitable pricing levels, which could reduce our sales or sales growth; product development or manufacturing difficulties, which could increase our product development and manufacturing costs and delay sales; cybersecurity events or other disruptions of information technology systems could adversely affect our business; our ability to make acquisitions, including obtaining any applicable domestic and/or foreign governmental approvals, and achieve operating synergies from acquired businesses; customer credit risk; interest, foreign currency exchange and income tax rates; economic conditions, including the effects of inflation, within and outside of the aviation, defense, space, medical, telecommunications and electronics industries, which could negatively impact our costs and revenues; and defense spending or budget cuts, which could reduce our defense-related revenue. Parties receiving this material are encouraged to review all of HEICO’s filings with the Securities and Exchange Commission, including, but not limited to filings on Form 10-K, Form 10-Q and Form 8-K. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.

SOURCE: HEICO Corporation