HEICO Corporation acquires aircraft interior display company

HEICO Corporation today announced that its Mid Continent Controls, Inc. (MC2) subsidiary acquired all of the ownership interests of Rosen Aviation, LLC for cash consideration paid at closing. Further terms and financial details were not disclosed.

HEICO stated that it expects the acquisition to be accretive to its earnings within the year following acquisition. The transaction marks HEICO's fourth acquisition in the past six months.

Eugene, OR-based Rosen designs and manufactures in-flight entertainment (IFE) products, principally in-cabin displays and control panels, for the business and VVIP aviation markets. The company will operate as a wholly-owned subsidiary of MC2, which is a niche designer and manufacturer specializing in proprietary in-cabin power and entertainment components and subsystems for business jets.

The two businesses believe they can achieve important synergies, including, but not limited to, offering a larger set of aircraft interior IFE solutions integrating their respective products to offer state-of-the art designs and equipment to aircraft manufacturers, operators, completion centers and sub-system suppliers.

Founded 45 years ago in 1980, Rosen enjoys a unique pedigree in the business and VVIP aircraft markets through its widely recognized and innovative product lines installed as standard equipment on a significant aircraft base of both in-production and legacy aircraft.

MC2 and Rosen are part of the HEICO Electronic Technologies Group's Radiant Power family of companies. Thomas Hemphill, MC2's President, will lead both businesses.

Mesirow acted as sole financial advisor to the sellers.