HEICO Corporation today announced that its Electronic Technologies Group has acquired Gables Engineering, Inc. for cash at closing. Further transaction terms and financial details were not disclosed.

HEICO stated that it expects the acquisition to be accretive to its earnings within a year following the purchase.

Founded in 1946, Gables Engineering is a leading designer and manufacturer of advanced avionics controls, including navigation, audio, surveillance, and communication panels for a wide range of aircraft. Its integrated operations support both OEM production and aftermarket services. Gables Engineering is a trusted supplier to global aircraft OEMs, Tier 1 avionics providers and major airlines.

Headquartered in a state-of-the-art 108,000 square foot facility in Coral Gables, FL, the company performs key engineering and manufacturing in-house with its talented team of more than 200 professionals, including engineers and technicians. Since its founding nearly 80 years ago by Victor P. Clarke, Gables Engineering has been known as a pioneering aviation innovator developing advanced solutions for leading aerospace platforms, most recently including items like the modern touchscreen cockpit displays for the Boeing 737 MAX. Gables Engineering's products are an industry standard and have been line fit equipment on generations of airliners and business aircraft for many decades.

Laurans A. Mendelson, HEICO's Executive Chairman, along with Eric A. Mendelson and Victor H. Mendelson, the Company's Co-Chief Executive Officers, jointly commented, "Gables Engineering is a natural fit for HEICO's culture of performance, innovation, and long-term growth. Located close to HEICO's headquarters and numerous other HEICO facilities, this acquisition reinforces our commitment to investing in high-quality, American manufacturing and engineering excellence."

Andrew M. Jackson, representing Gables Engineering's senior leadership, added, "We are excited to join the HEICO family. This partnership will support and grow Gables Engineering's research and development investments in flight deck technologies. We believe that this partnership will enhance value for our customers worldwide, and we look forward to seeing how partnering with other members of the HEICO family will help us continue to meet our customers' needs and build on Gables Engineering's established reputation for excellence in the avionics field."