HEICO Corporation subsidiary completes Reinhold acquisition

HEICO Corporation announced that its Flight Support Group completed its planned acquisition of Reinhold Industries from certain affiliates of The Jordan Company, L.P. HEICO stated that it expects the purchase to be accretive to its earnings per share in the first twelve months following the closing. HEICO further reiterated that Reinhold’s management is remaining with the company in their prior positions and the company does not expect any employee turnover as a result of the acquisition. Santa Fe Springs, CA-based Reinhold, which will continue to operate under the Reinhold name in its current locations, is a leading manufacturer of advanced niche components and complex composite assemblies for commercial aviation, defense and space applications. A majority of Reinhold’s revenue is derived from the design, manufacture and sale of commercial aircraft components, such as its unique composite seatbacks and related components used in a large number of airliner seats. Reinhold also generates a substantial portion of its sales from defense activities, principally those related to currently-fielded missile defense systems, such as the Patriot-2, Standard Missile and GMD programs.