HEICO Corporation Completes Previously Agreed Upon Acquisition
HEICO Corporation (NYSE:HEI.A and HEI) has successfully completed the acquisition of Exxelia International, acquiring approximately 94% of its outstanding shares. The acquisition, announced on July 28, 2022, involved purchasing shares from an affiliate of IK Partners, a notable European private equity firm. Exxelia specializes in high-reliability passive electronic components for sectors including aerospace, defense, medical, and energy. This strategic move aims to bolster HEICO's capabilities in producing complex electronic components, enhancing both market reach and product offerings.
- Acquisition of 94% of Exxelia enhances HEICO's product portfolio and market position.
- Exxelia's expertise in high-reliability components aligns with HEICO's focus on aerospace and defense sectors.
- None.
HOLLYWOOD, FL and PARIS, FRANCE / ACCESSWIRE / January 5, 2023 / HEICO Corporation (NYSE:HEI.A and HEI) today stated that its Electronic Technologies Group completed its acquisition of Exxelia International. HEICO acquired approximately
HEICO announced its initial agreement for the acquisition on July 28, 2022. HEICO acquired its interest from an affiliate of IK Partners, a leading European private equity firm.
HEICO welcomes all of Exxelia's Team Members to the HEICO family and looks forward to a strong, long-term relationship.
Paris, France-headquartered Exxelia is a global leader in the design, manufacture and sale of high-reliability ("Hi-Rel"), complex, passive electronic components and rotary joint assemblies for mostly aerospace and defense applications, in addition to other high-end applications, such as medical and energy uses, including emerging "clean energy" and electrification applications. Among Exxelia's products are high-end capacitors, resistors, inductors and complex slip rings. Exxelia produces over 50,000 discrete part numbers, which it provides to over 3,000 customers worldwide.
IK Partners ("IK") is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €14 billion of capital and invested in more than 170 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikpartners.com.
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. HEICO's customers include a majority of the world's airlines and overhaul shops, as well as numerous defense and space contractors and military agencies worldwide, in addition to medical, telecommunications and electronics equipment manufacturers. For more information about HEICO, please visit our website at www.heico.com.
Contact:
Victor H. Mendelson (305) 374-1745 ext. 7590
Carlos L. Macau, Jr. (954) 987-4000 ext. 7570
SOURCE: HEICO Corporation
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