HEICO acquires niche power amplifier maker

victoria@aviationnews-online.com
By victoria@aviationnews-online.com November 29, 2018 00:22

HEICO acquires niche power amplifier maker

HEICO’s Electronic Technologies Group has acquired approximately 93% of the stock of Apex Microtechnology (Apex) in an all cash transaction. Members of Apex’s management own the balance of the firm.

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

Tucson, AZ-based Apex designs and manufactures precision power analogue monolithic, hybrid and open frame components for a certain wide range of aerospace, defence, industrial, measurement, medical and test applications. Among Apex’s most recognized products are high-end Power Operational Amplifiers, PWM Amplifiers and Voltage References.

Founded in 1980, Apex employs nearly 100 people at its state-of-the-art Tucson headquarters, engineering and production facility, as well as at international sales locations.

Apex’s entire management team will remain with the company in their pre-acquisition positions and no material staff turnover is expected. Apex will continue to operate in its current locations and will be led by its long-time CEO and shareholder, Greg Brennan, who remains a shareholder.

Laurans A. Mendelson, HEICO’s Chairman and Chief Executive Officer, along with Victor H. Mendelson, HEICO’s Co-President and CEO of HEICO’s Electronic Technologies Group, remarked, “Apex continues HEICO’s practice of buying the best-in-class, niche electronic components companies which are known for having excellent talent serving a demanding customer base. From the moment we met the Apex team, we were impressed by the operation they built and their commitment to quality. We welcome everyone at Apex to the HEICO family.”

Greg Brennan, Apex’s long-time CEO and part-owner, commented, “We wanted the right long-term partner for Apex and its people. That partner had to be someone who not only understood our business, our customers and our people, but also one that had the same commitment to constant product development and quality. We found HEICO as a terrific partner and we are excited to have come together.”

 

victoria@aviationnews-online.com
By victoria@aviationnews-online.com November 29, 2018 00:22