HEICO Subsidiary Acquires Exclusive License and Key Related Assets for Honeywell's Boeing 777 AIMS & 737NG via Product Lines
HEICO (NYSE:HEI.A, HEI) announced that its subsidiary, Sunshine Avionics, has acquired an exclusive perpetual license and key assets for Boeing 777 AIMS and Boeing 737NG/P-8/E-7 VIA product lines from Honeywell. The transaction grants Sunshine Avionics complete rights to produce, sell, and repair these critical avionics systems.
The AIMS (Airplane Information Management System) serves as the mission control of the Boeing 777, while the VIA (Versatile Integrated Avionics) is integral to the Boeing 737NG/P-8/E-7's cockpit systems. Both systems are essential for flight-deck displays and management functions.
HEICO expects the acquisition to be accretive to earnings in the year following closing. Sunshine Avionics will conduct all engineering, production, and customer support from its Miramar, FL facilities. The company currently supports over 10,000 Line Replaceable Units annually and has recently expanded to include a Manufacturing division.
HEICO (NYSE:HEI.A, HEI) ha annunciato che la sua filiale, Sunshine Avionics, ha acquisito una licenza esclusiva perpetua e beni chiave per le linee di prodotto AIMS delle Boeing 777 e VIA delle Boeing 737NG/P-8/E-7 da Honeywell. L'operazione concede a Sunshine Avionics diritti completi per produrre, vendere e riparare questi sistemi avionici critici.
L'AIMS (Airplane Information Management System) funge da centro di controllo della missione per il Boeing 777, mentre il VIA (Versatile Integrated Avionics) è parte integrante dei sistemi di cockpit del Boeing 737NG/P-8/E-7. Entrambi i sistemi sono essenziali per i display del ponte di volo e le funzioni di gestione.
HEICO prevede che l'acquisizione avrà un impatto positivo sugli utili nell'anno successivo alla chiusura. Sunshine Avionics condurrà tutte le attività di ingegneria, produzione e supporto clienti dalle sue strutture di Miramar, FL. Attualmente, l'azienda supporta oltre 10.000 unità sostituibili all'anno e si è recentemente espansa per includere una divisione di produzione.
HEICO (NYSE:HEI.A, HEI) anunció que su subsidiaria, Sunshine Avionics, ha adquirido una licencia perpetua exclusiva y activos clave para las líneas de productos AIMS de Boeing 777 y VIA de Boeing 737NG/P-8/E-7 de Honeywell. La transacción otorga a Sunshine Avionics derechos completos para producir, vender y reparar estos sistemas avionicos críticos.
El AIMS (Sistema de Gestión de Información de Aeronaves) sirve como el control de misión del Boeing 777, mientras que el VIA (Aviónica Integrada Versátil) es integral para los sistemas de cabina del Boeing 737NG/P-8/E-7. Ambos sistemas son esenciales para las pantallas de la cabina de vuelo y las funciones de gestión.
HEICO espera que la adquisición sea accretiva para las ganancias en el año siguiente al cierre. Sunshine Avionics llevará a cabo toda la ingeniería, producción y soporte al cliente desde sus instalaciones en Miramar, FL. La empresa actualmente apoya más de 10,000 Unidades Reemplazables por Línea anualmente y se ha expandido recientemente para incluir una división de fabricación.
HEICO (NYSE:HEI.A, HEI)는 자회사인 Sunshine Avionics가 Honeywell로부터 Boeing 777 AIMS 및 Boeing 737NG/P-8/E-7 VIA 제품 라인에 대한 독점적 영구 라이선스 및 주요 자산을 인수했다고 발표했습니다. 이 거래는 Sunshine Avionics에게 이러한 중요한 항공기 전자 시스템을 생산, 판매 및 수리할 수 있는 완전한 권리를 부여합니다.
AIMS(항공기 정보 관리 시스템)는 Boeing 777의 미션 컨트롤 역할을 하며, VIA(다기능 통합 항공전자)는 Boeing 737NG/P-8/E-7의 조종석 시스템에 통합되어 있습니다. 두 시스템 모두 비행 데크 디스플레이 및 관리 기능에 필수적입니다.
HEICO는 이번 인수가 마감 다음 해에 수익에 긍정적인 영향을 미칠 것으로 예상하고 있습니다. Sunshine Avionics는 Miramar, FL에 위치한 시설에서 모든 엔지니어링, 생산 및 고객 지원을 수행합니다. 현재 이 회사는 연간 10,000개 이상의 교체 가능한 유닛을 지원하고 있으며 최근에 제조 부문을 포함하도록 확장했습니다.
HEICO (NYSE:HEI.A, HEI) a annoncé que sa filiale, Sunshine Avionics, a acquis une licence perpétuelle exclusive et des actifs clés pour les lignes de produits AIMS des Boeing 777 et VIA des Boeing 737NG/P-8/E-7 de Honeywell. La transaction accorde à Sunshine Avionics des droits complets pour produire, vendre et réparer ces systèmes avioniques critiques.
L'AIMS (Système de Gestion de l'Information Aéronautique) sert de centre de contrôle de mission pour le Boeing 777, tandis que le VIA (Avionique Intégrée Polyvalente) est intégral pour les systèmes de cockpit du Boeing 737NG/P-8/E-7. Les deux systèmes sont essentiels pour les affichages du poste de pilotage et les fonctions de gestion.
HEICO s'attend à ce que l'acquisition ait un impact positif sur les bénéfices l'année suivant la clôture. Sunshine Avionics effectuera toute l'ingénierie, la production et le support client depuis ses installations à Miramar, FL. L'entreprise soutient actuellement plus de 10 000 unités remplaçables par an et s'est récemment étendue pour inclure une division de fabrication.
HEICO (NYSE:HEI.A, HEI) gab bekannt, dass ihre Tochtergesellschaft, Sunshine Avionics, eine exklusive perpetuelle Lizenz und wichtige Vermögenswerte für die Boeing 777 AIMS und die Boeing 737NG/P-8/E-7 VIA Produktlinien von Honeywell erworben hat. Die Transaktion gewährt Sunshine Avionics vollständige Rechte zur Herstellung, zum Verkauf und zur Reparatur dieser kritischen Avioniksysteme.
Das AIMS (Airplane Information Management System) fungiert als Missionskontrolle für die Boeing 777, während das VIA (Versatile Integrated Avionics) Teil der Cockpitsysteme der Boeing 737NG/P-8/E-7 ist. Beide Systeme sind entscheidend für die Anzeigen im Cockpit und die Managementfunktionen.
HEICO erwartet, dass die Akquisition im Jahr nach dem Abschluss eine positive Auswirkung auf die Gewinne haben wird. Sunshine Avionics wird alle Engineering-, Produktions- und Kundenunterstützungsaktivitäten von seinen Einrichtungen in Miramar, FL aus durchführen. Das Unternehmen unterstützt derzeit jährlich über 10.000 austauschbare Einheiten und hat sich kürzlich auf eine Fertigungsabteilung ausgeweitet.
- Exclusive perpetual license acquisition for critical Boeing aircraft systems
- Expected earnings accretion in the first year post-closing
- Expansion of manufacturing capabilities and technical competency
- Complete control over production, sales, and repair rights for key aviation systems
- None.
Insights
This strategic acquisition represents a significant power shift in the commercial aviation aftermarket. The exclusive perpetual license for Boeing 777 AIMS and 737NG VIA systems positions HEICO to capture high-margin revenue streams from two of the most prevalent commercial aircraft families globally. The Boeing 737NG fleet comprises over 7,000 active aircraft, while the 777 family has approximately 1,700 aircraft in service.
The transaction's strategic value extends beyond immediate financial returns. These mission-critical avionics systems form the backbone of aircraft operations, requiring regular maintenance, repairs and upgrades throughout their lifecycle. By acquiring these product lines, HEICO gains:
- Enhanced control over the aftermarket supply chain for key avionics components
- Direct access to a captive customer base of airlines and MRO providers
- Technological expertise and intellectual property in advanced avionics systems
- Strengthened relationships with Boeing and major airlines
The deal aligns perfectly with HEICO's vertical integration strategy and demonstrates the company's ability to execute complex transactions with major OEMs like Honeywell. The insourcing of manufacturing to Sunshine Avionics' Florida facilities also provides operational advantages through consolidated engineering and production capabilities.
While financial terms weren't disclosed, the earnings accretion guidance suggests a well-structured deal that leverages HEICO's existing infrastructure. The transaction strengthens HEICO's competitive moat in the aviation aftermarket, particularly in high-value avionics systems where barriers to entry are substantial due to certification requirements and technical complexity.
MIRAMAR, FL and HOLLYWOOD, FL / ACCESS Newswire / January 28, 2025 / HEICO Corporation (NYSE:HEI.A, HEI) today announced its Sunshine Avionics subsidiary entered into an exclusive license agreement and acquired key assets for the Boeing 777 AIMS (Airplane Information Management System) and Boeing 737NG/P-8/E-7 VIA (Versatile Integrated Avionics) product lines from Honeywell. The transaction was structured as an exclusive perpetual license and asset purchase. Sunshine Avionics is part of HEICO's Flight Support Group. Transaction terms and financial details were not disclosed.
HEICO stated that it expects the license and asset acquisition to be accretive to its earnings in the year following closing.
Honeywell's AIMS, the mission control of the Boeing 777, is an integrated modular avionics system that hosts cockpit integration technology, including primary flight-deck displays and maintenance diagnostics. The VIA is an integrated avionics system of the Boeing 737NG/P-8/E-7 for the flat panel display electronics and software, as well as flight management functions. Since the Boeing 737NG and 777's launch, Honeywell has been the OEM for both the AIMS and VIA. These systems form the hardware foundation of cockpit avionics, ensuring the safety and efficiency of critical functions with redundancy and fault-tolerance.
The transaction provides Sunshine Avionics with all rights to produce, sell, and repair Boeing 777 AIMS and Boeing 737NG/P-8/E-7 VIA hardware systems. Sunshine Avionics is now solely responsible for the hardware-related activities formerly performed by Honeywell and will conduct its engineering, production and customer support functions from Sunshine Avionics' Miramar, FL facilities.
Miramar-based Sunshine Avionics is a leading provider of the highest quality MRO services and manufactured parts for the advanced avionics aftermarket and OEM production support. Sunshine Avionics' significant investments in automatic test equipment (ATE), combined with a talented team of hands-on engineers, has resulted in efficient, high-quality services with significantly reduced turn times. Sunshine Avionics leads the industry by providing the most innovative cost saving solutions available and a commitment to outstanding customer service and reliability.
Sunshine Avionics was founded in 2004 by Leon Gonzalez and Pablo Dominguez. Over 20 years, they developed a proprietary process which yields innovative and novel repair solutions. In 2024, Sunshine Avionics expanded its organization to include a Manufacturing division through an exclusive license and asset purchase agreement for the Boeing 737NG/777 Cockpit Displays and Legacy Displays product line from Honeywell, growing to accommodate more than 110 Team Members across both divisions. As a whole, Sunshine Avionics provides support for over 10,000 Line Replaceable Units (LRUs) annually.
Leon and Pablo jointly commented, "This is a significant advancement for Sunshine Avionics, as we expand our capabilities and technical competency, further strengthening legacy fleet sustainment to better serve our customers. This transaction also recognizes Sunshine Avionics' talented Team Members who share a passion for avionics and customer service excellence."
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, "We are proud to support Leon, Pablo, and the Sunshine Avionics team in yet another successful transaction with Honeywell. This transaction demonstrates HEICO's commitment to acquiring product lines of increasing importance and to insourcing high-skill manufacturing jobs to the United States, and we will work hard to ensure a successful transition occurs for our customers."
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 as a result of factors including: the severity, magnitude and duration of the COVID-19 Pandemic; HEICO's liquidity and the amount and timing of cash generation; lower commercial air travel caused by the COVID-19 Pandemic and its aftermath, 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; our ability to make acquisitions 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
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