HEICO Corporation Acquires Leading Provider of Business and Regional Jet Avionics Repair Solutions
HEICO (NYSE:HEI.A)(NYSE:HEI) has announced its Flight Support Group's acquisition of 90% of Millennium International, a leading provider of business jet avionics repair solutions. The remaining ownership will be retained by Millennium's co-founders. The acquisition is expected to be accretive to HEICO's earnings in the following year.
Millennium specializes in repair and support of both next-generation and legacy avionics systems, offering comprehensive repair, overhaul, retrofit, and exchange services. Based in Lee's Summit, MO, the company operates across three recently expanded sites with over 40 skilled personnel. Co-founders Jeanne Rau-Flattery and Dan Rafferty will continue leading the company from its existing facilities.
This strategic acquisition strengthens HEICO's presence in the business jet market, expanding their capabilities in avionics repairs and services for business jet manufacturers and operators.
HEICO (NYSE:HEI.A)(NYSE:HEI) ha annunciato l'acquisizione del 90% di Millennium International, un fornitore leader di soluzioni per la riparazione di avionic per jet aziendali, da parte del suo Flight Support Group. La restante proprietà sarà mantenuta dai co-fondatori di Millennium. Si prevede che l'acquisizione porterà benefici agli utili di HEICO nel prossimo anno.
Millennium si specializza nella riparazione e nel supporto sia di sistemi avionic di nuova generazione che di quelli legacy, offrendo servizi completi di riparazione, revisione, retrofit e scambio. Con sede a Lee's Summit, MO, l'azienda opera in tre sedi recentemente ampliate con oltre 40 personale altamente qualificato. I co-fondatori Jeanne Rau-Flattery e Dan Rafferty continueranno a dirigere l'azienda dalle sue strutture attuali.
Questa acquisizione strategica rafforza la presenza di HEICO nel mercato dei jet aziendali, espandendo le loro capacità nella riparazione e nei servizi avionic per i produttori e gli operatori di jet aziendali.
HEICO (NYSE:HEI.A)(NYSE:HEI) ha anunciado la adquisición del 90% de Millennium International, un proveedor líder de soluciones de reparación de aviónica para jets de negocios, por parte de su Grupo de Apoyo de Vuelo. La propiedad restante será mantenida por los cofundadores de Millennium. Se espera que la adquisición sea beneficiosa para las ganancias de HEICO en el próximo año.
Millennium se especializa en la reparación y el soporte tanto de sistemas de aviónica de nueva generación como de legado, ofreciendo servicios completos de reparación, revisión, actualización e intercambio. Con sede en Lee's Summit, MO, la empresa opera en tres sitios recientemente ampliados con más de 40 personal cualificado. Los cofundadores Jeanne Rau-Flattery y Dan Rafferty seguirán liderando la empresa desde sus instalaciones existentes.
Esta adquisición estratégica refuerza la presencia de HEICO en el mercado de jets de negocios, ampliando sus capacidades en reparaciones y servicios de aviónica para fabricantes y operadores de jets de negocios.
HEICO (NYSE:HEI.A)(NYSE:HEI)는 비즈니스 제트 항공기 전자 장비 수리 솔루션의 선도적인 제공업체인 Millennium International의 90%를 인수했다고 발표했습니다. 나머지 지분은 Millennium의 공동 창립자가 보유할 것입니다. 이 인수는 HEICO의 다음 연도 수익에 긍정적인 영향을 미칠 것으로 예상됩니다.
Millennium은 차세대 및 구형 항공 전자 시스템의 수리 및 지원을 전문으로 하며, 포괄적인 수리, 보수, 개조 및 교환 서비스를 제공합니다. 이 회사는 MO주 리스 서밋에 본사를 두고 있으며, 40명 이상의 숙련된 인력을 갖춘 최근 확장된 세 개의 사이트에서 운영됩니다. 공동 창립자 Jeanne Rau-Flattery와 Dan Rafferty는 기존 시설에서 회사를 계속 이끌 것입니다.
이 전략적 인수는 HEICO의 비즈니스 제트 시장에서의 입지를 강화하고, 비즈니스 제트 제조업체 및 운영자를 위한 항공 전자 장비 수리 및 서비스 능력을 확장합니다.
HEICO (NYSE:HEI.A)(NYSE:HEI) a annoncé l'acquisition de 90% de Millennium International, un fournisseur de premier plan de solutions de réparation d'avionique pour jets d'affaires, par son groupe de soutien aux vols. La propriété restante sera conservée par les co-fondateurs de Millennium. On s'attend à ce que cette acquisition soit bénéfique pour les bénéfices de HEICO au cours de l'année suivante.
Millennium se spécialise dans la réparation et le support de systèmes d'avionique de nouvelle génération et de systèmes hérités, offrant des services complets de réparation, de révision, de modernisation et d'échange. Basée à Lee's Summit, MO, l'entreprise opère sur trois sites récemment agrandis avec plus de 40 personnes qualifiées. Les co-fondateurs Jeanne Rau-Flattery et Dan Rafferty continueront de diriger l'entreprise depuis ses installations actuelles.
Cette acquisition stratégique renforce la présence de HEICO sur le marché des jets d'affaires, élargissant leurs capacités en matière de réparations et de services d'avionique pour les fabricants et les opérateurs de jets d'affaires.
HEICO (NYSE:HEI.A)(NYSE:HEI) hat die Übernahme von 90% von Millennium International, einem führenden Anbieter von Reparaturlösungen für die Avionik von Geschäftsflugzeugen, durch seine Flight Support Group bekannt gegeben. Der verbleibende Eigentumsanteil wird von den Mitgründern von Millennium gehalten. Es wird erwartet, dass die Übernahme die Gewinne von HEICO im kommenden Jahr steigern wird.
Millennium ist auf die Reparatur und den Support sowohl von Next-Generation- als auch von Legacy-Avioniksystemen spezialisiert und bietet umfassende Reparatur-, Überholungs-, Nachrüstungs- und Austauschdienstleistungen an. Das Unternehmen hat seinen Sitz in Lee's Summit, MO, und betreibt an drei kürzlich erweiterten Standorten über 40 qualifizierte Mitarbeiter. Die Mitgründer Jeanne Rau-Flattery und Dan Rafferty werden das Unternehmen weiterhin von den bestehenden Einrichtungen aus leiten.
Diese strategische Übernahme stärkt die Präsenz von HEICO auf dem Markt für Geschäftsflugzeuge und erweitert deren Fähigkeiten in der Reparatur und im Service von Avionik für Hersteller und Betreiber von Geschäftsflugzeugen.
- Acquisition expected to be earnings accretive within first year
- Strategic expansion into growing business jet market
- Retention of experienced management team and skilled workforce
- Addition of three operational facilities with recent expansions
- Diversification of service offerings in avionics repair sector
- None.
Insights
This strategic acquisition represents a significant expansion of HEICO's Flight Support Group's capabilities in the lucrative business jet market. The transaction brings several key strategic advantages:
- HEICO gains immediate access to Millennium's established relationships with aircraft OEMs, fleet operators and avionics brokers, enabling cross-selling opportunities across their product portfolio.
- The business jet market is experiencing robust growth, driven by increased private aviation demand and fleet modernization needs. Millennium's expertise in both next-generation and legacy systems positions HEICO to capture revenue from both new installations and maintenance of existing fleets.
- The retention of Millennium's technical team (40+ specialists) and founders ensures continuity of expertise and customer relationships while providing HEICO with valuable intellectual capital in avionics repair solutions.
- The deal structure (90% ownership) aligns with HEICO's proven acquisition strategy of maintaining founder involvement while gaining operational control. This approach has historically led to successful post-merger integration and value creation.
The earnings accretive nature of the acquisition suggests strong underlying fundamentals and potential synergies. Millennium's three recently expanded facilities provide immediate scalability, while their development pipeline of repair capabilities indicates strong potential for organic growth. This acquisition strengthens HEICO's competitive position in the aftermarket aviation services sector, particularly in high-value avionics systems maintenance and repair.
HEICO Corporation (NYSE:HEI.A)(NYSE:HEI) today announced its Flight Support Group has acquired
HEICO stated that it expects the acquisition to be accretive to its earnings in the year following closing.
Millennium is known for its pioneering role in business jet avionics repair solutions, specializing in the mission critical repair and support of both next-generation and legacy avionics systems and components. The company offers comprehensive repair, overhaul, retrofit, and exchange services to its customers that include aircraft OEMs, fleet operators, repair businesses, and avionics brokers. Millennium's capabilities span avionics displays, navigation and radio equipment, weather radars, collision avoidance systems, and other avionics systems.
Headquartered in Lee's Summit, MO, Millennium operates across three recently expanded sites. Co-founders Jeanne Rau-Flattery and Dan Rafferty will continue leading the company, and the business will continue operating out of its existing facilities. Its talented team of over 40 engineers, technicians, and other personnel will remain with the company and focus on executing on a development pipeline of repair capabilities.
LEE'S SUMMIT, MO and MIAMI, FL / ACCESS Newswire / February 3, 2025 / Laurans A. Mendelson, HEICO's Chairman and Chief Executive Officer, along with Eric A. Mendelson, HEICO's Co-President and CEO of its Flight Support Group commented, "The addition of Millennium to HEICO's family of businesses marks a significant milestone in our strategic expansion into the business jet market. With Millennium's innovative avionics repairs, extensive expertise, and flawless reputation, HEICO is now well-positioned to offer a broad range of solutions for business jet manufacturers and operators, solidifying our presence in this rapidly growing market. The unique and extensive capabilities acquired through this transaction will enable us to deliver even greater value to our customers and stakeholders."
Jeanne Rau-Flattery and Dan Rafferty jointly commented, "We are thrilled to partner with a like-minded organization such as HEICO. This transaction presents a tremendous opportunity for our company to drive innovation and broaden the scope of our capabilities. Together, we aim to enhance our ability to deliver exceptional value to our customers, ensuring that we meet their evolving needs."
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.
Certain statements in this press release constitute forward-looking statements, which are subject to risks, uncertainties and contingencies. HEICO's actual results may differ materially from those expressed in or implied by those forward-looking statements. Factors that could cause such differences include, among others: the severity, magnitude and duration of public health threats, such as the COVID-19 Pandemic; our liquidity and the amount and timing of cash generation; lower commercial air travel, airline fleet changes or airline purchasing decisions, which could cause lower demand for our goods and services; product specification costs and requirements, which could cause an increase to our costs to complete contracts; governmental and regulatory demands, export policies and restrictions, reductions in defense, space or homeland security spending by U.S. and/or foreign customers or competition from existing and new competitors, which could reduce our sales; our ability to introduce new products and services at profitable pricing levels, which could reduce our sales or sales growth; product development or manufacturing difficulties, which could increase our product development and manufacturing costs and delay sales; cybersecurity events or other disruptions of information technology systems could adversely affect our business; our ability to make acquisitions, including obtaining any applicable domestic and/or foreign governmental approvals, and achieve operating synergies from acquired businesses; customer credit risk; interest, foreign currency exchange and income tax rates; economic conditions, including the effects of inflation, within and outside of the aviation, defense, space, medical, telecommunications and electronics industries, which could negatively impact our costs and revenues; and defense spending or budget cuts, which could reduce our defense-related revenue. Parties receiving this material are encouraged to review all of HEICO's filings with the Securities and Exchange Commission, including, but not limited to filings on Form 10-K, Form 10-Q and Form 8-K. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
Contact Information
Eric A. Mendelson
(954) 744-7555
Carlos L. Macau, Jr.
(954) 744-7562
SOURCE: HEICO
View the original press release on ACCESS Newswire
FAQ
What percentage of Millennium International did HEICO acquire in 2025?
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When will the Millennium acquisition become accretive to HEICO's earnings?
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Will Millennium's management team remain after HEICO's acquisition?
