HEICO Corp.n (HEI) said Monday it has agreedt to acquire Reinhold Industries Inc. from certain affiliates of The Jordan Co. L.P., a New York-based investment firm, and Reinhold management.
Reinhold will be part of HEICO's Flight Support Group. Financial details were not disclosed, but HEICO stated it expects the acquisition to be accretive to its earnings per share within the first twelve months following closing.
The acquisition is subject to customary closing conditions and is to close within the next 45 days.
Santa Fe Springs, California-based Reinhold is believed to be the world's leading manufacturer of advanced niche components and complex composite assemblies for commercial aviation, defense and space applications. A majority of Reinhold's revenue is derived from the manufacture and sale of commercial aircraft components. Reinhold also generates a substantial portion of its sales from defense activities.
Tracing its roots to its start by the Reinhold brothers in 1928, Reinhold now employs about 200 people at its facilities in Southern California, where the company conducts all of its operations.
HEICO Corp. is engaged mainly in certain niche segments of the aviation, defense, space, medical, telecommunications and electronics industries.
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