HEICO Corporation (NYSE: HEI.A) (NYSE: HEI) has announced that its Dukane Seacom Inc. subsidiary has acquired 100% of the business and assets of the Emergency Locator Transmitter Beacon product line of Instrumar Limited (“ELT”) in an all cash transaction, the company said.
Dukane Seacom is part of HEICO´s Electronic Technologies Group.
HEICO stated that it expects the acquisition to be accretive to its earnings within a year following the purchase.
Further financial terms and details were not disclosed.
The ELT Product Line, which has a significant installed base on large commercial transport aircraft, designs and manufactures Emergency Locator Transmitter Beacons for the commercial aviation and defense markets.
Located in Sarasota, Florida, Dukane Seacom and its sister company, Radiant Power Corp., are focused on the design and manufacture of underwater locator beacons, emergency power supplies, power distribution and controls, flight deck sensors and indicators, and passenger comfort products for the aerospace and military markets. More information can be found at www.dukaneseacom.com or www.rpcaero.com.
HEICO 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, visit http://www.heico.com.