HEICO Corporation (NYSE: HEI.A and HEI) Flight Support Group has acquired 100% of Carbon by Design, a rapidly growing manufacturer of composite components for UAVs, rockets, spacecraft and other specialized applications, the company said.
The purchase price and financial details were not disclosed.
HEICO stated that it expects the acquisition to be accretive to its earnings within the first year following the acquisition.
Carbon by Design, founded in 2003, engineers and manufactures hard-to-design and produce complex carbon composites for commercial launch vehicles and spacecraft, as well as multiple UAV manufacturers. HEICO stated that it does not expect any employee turnover to result from the acquisition.
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.