HEICO Corporation subsidiary acquires Interface Displays & Controls, Inc.

HEICO Corporation today announced that its Radiant Power Corp. subsidiary acquired Interface Displays & Controls, Inc. in an all cash transaction, which is HEICO's fourth acquisition this year. Radiant is part of HEICO's Electronic Technologies Group.

HEICO stated that it expects the acquisition to be accretive to its earnings within a year following the purchase. Further financial terms and details were not disclosed.

IDC, which was founded in 1976 and is located in Oceanside, CA, designs and manufactures electronic products for aviation, marine, military fighting vehicles, and embedded computing markets. These products include original equipment and retrofit control panel and bezel assemblies, smart cockpit displays, and night vision compatible exterior lighting for military fixed wing and rotorcraft platforms.

Anish V. Patel, Radiant's President, stated, "We are very excited to bring the Interface Displays & Controls, Inc. product lines into our portfolio. IDC's addition expands Radiant's product offerings to our existing customer base and allows us to better address market needs."

Laurans A. Mendelson, HEICO's Chairman & Chief Executive Officer, and Victor H. Mendelson, HEICO's Co-President and CEO of its Electronic Technologies Group, jointly noted: "This acquisition is consistent with HEICO's long-term strategy of acquiring businesses that provide great products and services to their customers. We fully support the Radiant team's efforts and will continue to look for value-added acquisitions for our subsidiaries."

Eureka Capital Markets, LLC acted as the exclusive financial advisor to IDC in the transaction.

Located in Sarasota, Florida, Radiant Power Corp. is focused on the design and manufacture of emergency power supplies, power distribution and controls, flight deck sensors and indicators, and passenger comfort products for the aerospace and military markets.