HEICO Corporation
TypePublic company
Industry
Founded1957 (1957) as Heinicke Instruments
FounderWilliam Heinicke
HeadquartersHollywood, Florida, U.S.
Key people
  • Laurans A. Mendelson
  • (chairman & CEO)
  • Eric A. Mendelson
  • (co-president)
  • Victor H. Mendelson
  • (co-president)
RevenueIncrease US$2.2 billion (2022)
Increase US$497 million (2022)
Increase US$352 million (2022)
Total assetsIncrease US$4.1 billion (2022)
Total equityIncrease US$2.6 billion (2022)
Number of employees
Increase c. 6,500 (October, 2022)
Websiteheico.com
Footnotes / references
[1]

HEICO Corporation is an American aerospace and electronics company, which manufactures products found in aircraft, spacecraft, defense equipment, medical equipment, and telecommunications systems. Since the mid-1990s, HEICO has been organized into two divisions to address these different markets: Flight Support Group and Electronic Technologies Group.[2][3]

HEICO's Flight Support Group is the largest independent provider of FAA-approved aircraft replacement parts.[4] It is a provider of aircraft accessories component repair and overhaul services for avionic, electro-mechanical, flight surface, hydraulic and pneumatic applications; commercial aviation and military aviation parts distribut٨ion; and a manufacturer of other aircraft parts.

History

When it began in 1957, HEICO focused on manufacturing laboratory equipment. After an acquisition in 1974, HEICO focused on replacement parts for commercial aviation as well as providing maintenance and repair services. Since the 1990s, a significant part of HEICO's business strategy has been acquiring niche product and service providers in the aviation, defense, space, medical, telecommunications, and electronics industries. HEICO has completed over 90 such acquisitions since 1990.[1]

Acquisitions include: Engineering Design Team, Inc. (2005),[5][6] Switchcraft (2011),[7] Quell Corporation (December 2019),[8] BERNIER (July 2019),[9] Research Electronics International, LLC (June 2019), Decavo, LLC (February 2019), Solid Sealing Technology, Inc., Apex Microtechnology, Inc., Specialty Silicone Products, Inc., Optical Display Engineering, Emergency Locator Transmitter Beacon product line of Instrumar Limited, and Sensor Technology Engineering, Inc.

In August 2020, HEICO announced that its Electronic Technologies Group acquired Intelligent Devices, LLC, and Transformational Security, LLC.[10]

Connect Tech Inc. announced its acquisition by HEICO Corporation on August 18, 2020.[11]

In May 2023, HEICO announced it had entered into an agreement to acquire Wencor Group.[12] On August 4, 2023, HEICO announced it had completed this acquisition at total cost of $2.05 billion.[13]

Products

HEICO's products can be found on large commercial aircraft regional, business and military aircraft, industrial turbines, medical equipment, rockets, satellites, targeting systems, missiles and electro-optical devices.

Products include:

  • FAA-approved Parts Manufacturer Approval parts and DER-approved repairs
  • Aircraft and engine component maintenance, repair and overhaul
  • Electrical and electro-optical components

References

  1. 1 2 "HEICO CORPORATION FORM 10-K 2022". EDGAR. U.S. Securities and Exchange Commission. 2022-10-31. Retrieved 2023-10-13.
  2. ↑ "HEICO - About Us - Company Profile". www.heico.com. Retrieved 2023-10-13.
  3. ↑ "HEICO - About Us - Our History". www.heico.com. Retrieved 2023-10-13.
  4. ↑ "HEICO - Flight Support". www.heico.com. Retrieved 2023-10-13.
  5. ↑ "Florida company buys Engineering Design Team". Portland Business Journal. 2005-11-04. Retrieved 2022-06-03.
  6. ↑ "HEICO Corporation Acquires Engineering Design Team, Inc". EDT. 2005-11-04. Retrieved 2022-06-03.
  7. ↑ "Switchcraft: Company History". Switchcraft.com. Archived from the original on 2021-12-25. Retrieved 2021-12-25.
  8. ↑ "Heico Corp. (HEI) acquired 80.1% of Quell Corporation". StreetInsider.com. Retrieved 2020-03-27.
  9. ↑ "HEICO Corporation Acquires Leading French Interconnect Business". Bloomberg.com. 2 July 2019. Retrieved 2020-03-27.
  10. ↑ GmbH, finanzen net. "HEICO Corporation Acquires Two Preeminent Surveillance Countermeasures Companies | Markets Insider". markets.businessinsider.com. Retrieved 2020-08-14.
  11. ↑ Connect Tech (18 August 2020). "HEICO Corporation Acquires Connect Tech Inc". connecttech.com. Retrieved 2020-08-18.
  12. ↑ Corporation, HEICO (2023-05-14). "HEICO Corporation Agrees to Make Major and Highly Complementary Acquisition". ACCESSWIRE News Room. Retrieved 2023-10-11.
  13. ↑ Corporation, HEICO (2023-08-04). "HEICO Corporation Completes Wencor Group Acquisition". ACCESSWIRE News Room. Retrieved 2023-10-11.
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