Aerospace and technology company HEICO Corp. has announced it has acquired approximately 93% of the stock of Arizona, US-based Electronic Technologies Group, a provider of precision high-power analog amplifier products, the company said.
HEICO acquired the shares in an all cash transaction. Members of Apex´s management own the balance of the firm. Further financial terms and details were not disclosed.
HEICO´s Electronic Technologies Group said Apex continues HEICO´s practice of buying the best-in-class, niche electronic components companies which are known for having excellent talent serving a demanding customer base.
HEICO Corp. (NYSE: HEI.A) (NYSE: HEI) 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 Flight Support Group and Electronic Technologies Group.
Apex is the leading designer and manufacturer of precision power analog monolithic, hybrid and open frame components for a certain wide range of aerospace, defense, industrial, measurement, medical and test applications.