HEICO Corporation acquires Aerospace Electronics Product Line

HEICO Corporation reported that its Radiant Power Corp. (“Radiant”) subsidiary, acquired the aerospace assets of Moritz Aerospace, in an all cash transaction. Radiant is part of HEICO’s Electronic Technologies Group. HEICO stated that it expects the acquisition to be accretive to its earnings within a year following the purchase. Further financial terms and details were not disclosed. The Moritz Aerospace product line, which was founded in 1994 and is currently located in Hatfield, PA, designs and manufactures next generation wireless cabin control systems, solid state power distribution and management systems and fuel level sensing systems for business jets and for general aviation, as well as for the military/defense market segments. The Moritz Aerospace product line is currently supported by approximately 20 people.