HEICO Corporation has released that its Flight Support Group has completed the acquisition of Pioneer Industries. On February 10, 2022, HEICO had entered into an agreement, subject to regulatory approval which was subsequently received, to acquire Pioneer. The purchase was completed under previously announced terms.
HEICO stated that it expects the acquisition to be accretive to its earnings within the year following closing.
Farmingdale, NY-based Pioneer Industries is a leading specialty distributor of spares for military aviation, marine and ground platforms. Its customers include the US Department of Defense and companies that support the defense sector.
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.
