American Securities to sell Robertson Fuel Systems to HEICO for USD 255m

US private equity firm American Securities LLC has entered into a definitive agreement to sell Robertson Fuel Systems, LLC to HEICO Corporation (NYSE: HEI.A and HEI) for USD 255 million, the company said.

HEICO is engaged primarily in the design, production, servicing, and distribution of certain niche aviation, defense, space, medical, telecommunications, and electronics products. The transaction is expected to close within 60 days and is subject to clearance under the Hart–Scott–Rodino Antitrust Improvements Act and other customary closing conditions.

Founded in 1977 by Dr. Harry Robertson and based in Tempe, Arizona, Robertson is the world leader in the design and production of mission-extending, crashworthy, and ballistically self-sealing auxiliary fuel systems for military rotorcraft. The company´s products include approximately 65 different fuel systems serving over 50 different platforms across military and civil aircraft and ground vehicles. Robertson products can be found on the AH-64 Apache, CH-47 Chinook, UH-60 Black Hawk, MH-60 Sea Hawk, and the V-22 Osprey aircraft, among others. Robertson employs approximately 125 people at its facilities in Tempe, Arizona and Bluffdale, Utah.

Kaye Scholer LLP acted as legal advisor and Moelis & company and SunTrust Securities acted as financial advisors to American Securities and Robertson. HEICO´s internal counsel and Akerman LLP acted as legal advisors and UBS Investment Bank acted as financial advisor to HEICO.

Tempe, Arizona-based Robertson designs and produces mission-extending, crashworthy, and ballistically self-sealing auxiliary fuel systems for military rotorcraft. Robertson´s products include approximately 65 different fuel systems serving over 50 different platforms across military and civil aircraft and ground vehicles. Founded in 1977 by Harry Robertson, Robertson has an installed base of over 11,000 fuel tank assemblies delivered since then and has made significant investments in developing its products over a long period of time. Robertson employs approximately 125 people at its facilities in Tempe, Arizona and Bluffdale, Utah.

Based in New York with an office in Shanghai, American Securities invests in market-leading North American companies with annual revenues generally ranging from USD 200 million to USD 2 billion and/or EBITDA of USD 50 million to USD 200 million.