Air Cost Control USA: HEICO Corporation Completes Air Cost Control Acquisition

MIAMI and HOLLYWOOD, Fla., April 25, 2017 (GLOBE NEWSWIRE) -- HEICO Corporation (NYSE:HEI) (NYSE:HEI) announced today that its Flight Support Group completed the acquisition of Air Cost Control ("A2C"). Financial terms were not disclosed, but HEICO stated that it expects the acquisition to be accretive to its earnings within the year following closing. On March 8, 2017, HEICO announced it had entered into an agreement, subject to foreign governmental approval which was subsequently received, to acquire 80.1% of the operating units of A2C from its founders, Laurent and Laure Parelle. The Parelles will continue to own 19.9% of A2C, which will operate as part of HEICO's Flight Support Group. Founded by the Parelles in 2000, A2C is a leading aviation electrical interconnect product distributor of items such as connectors, wire, cable, protection and fastening systems. It also distributes a wide range of electromechanical parts. A2C's customers include aircraft manufacturers and their sub-tier suppliers, as well as airlines and maintenance, repair and overhaul organizations worldwide.A2C maintains extensive inventory and customer support centers ...Full story available on Benzinga.com