HEICO Corp. subsidiary buys preeminent aircraft panel product line

HEICO Corporation today announced that its Radiant Power Corp. subsidiary acquired 100% of the business and assets of the Human-Machine Interface product line of Spectralux Corporation in an all cash transaction. Radiant Power 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. The purchase is HEICO's seventh acquisition in the past year.

A leader in its field, the HMI Product Line, which has a significant installed base and is standard equipment on numerous in-production commercial transport aircraft, designs, manufactures, and repairs flight deck annunciators, panels, indicators, and illuminated keyboards, as well as lighting controls, and flight deck lighting.

The HMI product line is currently located in Kirkland, WA and will be integrated into Radiant Power's existing Sarasota, FL facility within a year following closing.

Anish V. Patel, Radiant Power's President, stated, "We are very excited about the HMI product line acquisition. The addition of the HMI products expands our existing extensive flight panels and displays business which was focused primarily on military platforms."

Laurans A. Mendelson, HEICO's Chairman and Chief Executive Officer, and Victor H. Mendelson, HEICO's Co-President and the Chief Executive Officer of HEICO's Electronic Technologies Group, remarked, "This unique commercial aircraft product line allows our outstanding Radiant Power team to strategically expand its product offering, while allowing Radiant to capitalize on its successful heritage of acquiring and integrating businesses into their operation."