A subsidiary of Florida, US-based HEICO Corp.´s flight support group has acquired 100% of the business and assets of California, US-based Optical Display Engineering (ODE) in an all cash transaction, the company said.
HEICO said that it expects the acquisition to be accretive to its earnings in the year following the purchase. Further financial terms and details were not disclosed.
ODE is an FAA-authorized Part 145 Repair Station focusing on the repair of LCD screens and display modules for aviation displays used in civilian and military aircraft. ODE also holds FAA-PMA authority to supply products that it repairs.
ODE will be relocated to Highland Heights, Ohio where HEICO Flight Support Group´s Inertial Aerospace Services FAA/EASA repair station (IAS) and Flight Specialties PMA units are located.
Inertial Aerospace Services focuses on the repair of Inertial Guidance, including innovative solutions for avionics systems. Flight Specialties is co-located with IAS and develops PMAs for a variety of aircraft applications including displays, keypads and mechanical components.
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 Hollywood, Florida-based Flight Support Group and its Miami, Florida-based Electronic Technologies Group.