HEICO acquires Gables Engineering avionics manufacturer

HEICO Corporation (NYSE: HEI.A and HEI) announced its Electronic Technologies Group has acquired Gables Engineering Inc. for an undisclosed cash amount. The company expects the acquisition to be accretive to earnings within one year of the purchase.

Gables Engineering, founded in 1946, designs and manufactures avionics controls including navigation, audio, surveillance and communication panels for aircraft. The company operates from a 108,000 square foot facility in Coral Gables, Florida, and employs more than 200 professionals including engineers and technicians.

The acquired company serves global aircraft original equipment manufacturers, Tier 1 avionics providers and major airlines. Gables Engineering's products include touchscreen cockpit displays for the Boeing 737 MAX aircraft and have been standard equipment on commercial airliners and business aircraft.

"Gables Engineering is a natural fit for HEICO's culture of performance, innovation, and long-term growth," said Laurans A. Mendelson, HEICO's Executive Chairman, along with Co-Chief Executive Officers Eric A. Mendelson and Victor H. Mendelson in a joint statement.

Andrew M. Jackson, representing Gables Engineering's senior leadership, said the partnership will support the company's research and development investments in flight deck technologies and enhance value for customers worldwide.

HEICO operates through its Flight Support Group and Electronic Technologies Group, serving aviation, defense, space, medical, telecommunications and electronics industries. The company's customers include airlines, overhaul shops, defense contractors and military agencies.

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