HEICO acquires leading F-16 spares manufacturer

HEICO Corporation has acquired 80.1% of Aerospace & Commercial Technologies (ACT), a leading 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. The purchase price and financial details were not disclosed. HEICO stated that it expects the acquisition to be accretive to its earnings within the first year following the acquisition. Founded in 2002, ACT supports the F-16 fleet with OEM quality products for the airframes and its systems on all delivered configurations and type versions. There are more than 3,000 F-16s in operation worldwide in 27 countries. Ft. Worth, TX based ACT’s entire management team will remain with the company in their existing positions and HEICO stated that it does not expect any employee turnover to result from the acquisition. ACT will work in coordination with HEICO’s Blue Aerospace subsidiary, which is also a Lockheed Martin F-16 licensee, to support the F-16 community worldwide. Both companies will operate as separate entities. HEICO acquired Blue Aerospace in 2011.