Company:HEICO
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| Type | Public company |
|---|---|
| Industry | |
| Founded | 1957 as Heinicke Instruments |
| Founder | William Heinicke |
| Headquarters | Hollywood, Florida, U.S. |
Key people |
|
| Revenue |  US$2.2 billion (2022) |
| US$497 million (2022) | |
| US$352 million (2022) | |
| Total assets | US$4.1 billion (2022) |
| Total equity | US$2.6 billion (2022) |
Number of employees | c. 6,500 (October, 2022) |
| Website | heico |
| 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
- ↑ 1.0 1.1 "HEICO CORPORATION FORM 10-K 2022". EDGAR. U.S. Securities and Exchange Commission. 2022-10-31. https://www.sec.gov/Archives/edgar/data/46619/000004661922000066/hei-20221031.htm. Retrieved 2023-10-13.
- ↑ "HEICO - About Us - Company Profile". https://www.heico.com/about-us/who-we-are/company-profile/.
- ↑ "HEICO - About Us - Our History". https://www.heico.com/about-us/who-we-are/our-history/.
- ↑ "HEICO - Flight Support". https://www.heico.com/flight-support/.
- ↑ "Florida company buys Engineering Design Team". 2005-11-04. https://www.bizjournals.com/portland/stories/2005/10/31/daily32.html.
- ↑ "HEICO Corporation Acquires Engineering Design Team, Inc." (in en-US). 2005-11-04. https://edt.com/heico-corporation-acquires-engineering-design-team-inc/.
- ↑ "Switchcraft: Company History". Switchcraft.com. https://switchcraft.com/About_Us_History_New.aspx.
- ↑ "Heico Corp. (HEI) acquired 80.1% of Quell Corporation". StreetInsider.com. https://www.streetinsider.com/Corporate+News/Heico+Corp.+(HEI)+acquired+80.1%25+of+Quell+Corporation/16246653.html.
- ↑ "HEICO Corporation Acquires Leading French Interconnect Business". Bloomberg.com. 2 July 2019. https://www.bloomberg.com/press-releases/2019-07-02/heico-corporation-acquires-leading-french-interconnect-business.
- ↑ GmbH, finanzen net. "HEICO Corporation Acquires Two Preeminent Surveillance Countermeasures Companies | Markets Insider" (in en-us). https://markets.businessinsider.com/news/stocks/heico-corporation-acquires-two-preeminent-surveillance-countermeasures-companies-1029496315.
- ↑ Connect Tech (18 August 2020). "HEICO Corporation Acquires Connect Tech Inc." (in en-us). https://connecttech.com/heico-corporation-acquires-connect-tech/.
- ↑ Corporation, HEICO (2023-05-14). "HEICO Corporation Agrees to Make Major and Highly Complementary Acquisition" (in en). https://www.accesswire.com/754788/heico-corporation-agrees-to-make-major-and-highly-complementary-acquisition.
- ↑ Corporation, HEICO (2023-08-04). "HEICO Corporation Completes Wencor Group Acquisition" (in en). https://www.accesswire.com/772365/heico-corporation-completes-wencor-group-acquisition.
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