HEICO Corporation has released that its Flight Support Group has acquired a 90% stake in Millennium International (Millennium), a frontrunner in business jet avionics repair. The company’s co-founders, Jeanne Rau-Flattery and Dan Rafferty, will retain the remaining ownership and continue to lead operations. Financial details of the transaction were not disclosed.
Millennium specialises in the repair and support of next-generation and legacy avionics systems, offering services such as repair, overhaul, retrofit and exchange. The company serves aircraft manufacturers, fleet operators, repair businesses and avionics brokers, with expertise in avionics displays, navigation systems, weather radars, and collision avoidance technology. Headquartered in Lee’s Summit, Missouri, Millennium operates across three expanded sites and employs over 40 engineers and technicians.
HEICO expects the acquisition to enhance its earnings within a year and sees it as a strategic move into the business jet market. HEICO Chairman and CEO Laurans A. Mendelson, along with Flight Support Group CEO and HEICO’s co-President, Eric A. Mendelson, highlighted Millennium’s strong reputation and expertise, reinforcing HEICO’s ability to provide advanced solutions for business jet manufacturers and operators.
The co-founders expressed enthusiasm about joining forces with HEICO, viewing the partnership as an opportunity to drive innovation and expand their service capabilities.
HEICO Corporation designs, manufactures and services products for aviation, defence, space, medical, telecommunications, and electronics industries, with customers including major airlines, defence contractors and military agencies worldwide.
