Wencor Group
Assembly Line
HEICO Corporation Completes Wencor Group Acquisition
HEICO Corporation (NYSE:HEI.A and HEI) today announced that it has completed its previously announced acquisition of Wencor Group (“Wencor”) from affiliates of Warburg Pincus LLC and Wencor’s management for $1.9 billion in cash and $150 million in HEICO Class A Common Stock[1] paid at closing, or $2.05 billion in the aggregate. Wencor has joined HEICO’s Flight Support Group.
HEICO stated that it expects the highly synergistic acquisition to be accretive to its earnings within the year following the closing. Further, HEICO anticipates it will continue to achieve its often-articulated growth objectives in the years following the closing. Wencor’s parts and repairs are found in hydraulic, pneumatic, electronic and electro-mechanical, cockpit and galley systems throughout numerous aircraft models and provide Wencor’s customers with significant cost savings.