HEICO to acquire aviation interconnect distributor

HEICO Corporation reported that its Flight Support Group has signed an agreement to acquire 80.1% of the operating units of Air Cost Control (A2C). A2C’s founders, Laurent and Laure Parelle will continue to own 19.9% of A2C. 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 by the Parelles in 2000, A2C is a leading aviation electrical interconnect product distributor of items such as connectors, wire, cable, protection and fastening systems. It also distributes a wide range of electromechanical parts. A2C’s customers include aircraft manufacturers and their sub-tier suppliers, as well as airlines and maintenance, repair and overhaul (MRO) organizations worldwide. The acquisition, which is expected to be completed within 30-45 days, is subject to a foreign governmental approval and standard closing conditions.