US-based Heico acquires French communications provider Bernier

Darren Wood
By Darren Wood July 5, 2019 08:40

US-based Heico acquires French communications provider Bernier

US aerospace and defence supplier Heico has purchased France-based Bernier, a provider of communications-related goods and services.

The terms of the deal are undisclosed.

HEICO expects the acquisition to be accretive to its earnings within the first 12 months after closing.

Founded in 1933, Bernier is a French designer and manufacturer of interconnect products used in demanding defense, aerospace and industrial applications, primarily for communications-related purposes. Bernier’s products are sold mostly within France, the European Community, Asia, the Middle East and the USA.

The business will continue to operate under the Bernier name and in its current engineering and production facility located in Bretigny-sur-Orge.

Heico has stated that they do not expect any staff turnover from among Bernier’s 40 plus staff.

“We have great respect for Bernier and its entire team,” Laurans Mendelson, Heico’s chairman and CEO, and Victor Mendelson, co-president and head of Electronic Technologies jointly remarked. “For 86 years, they have been serving their customers with excellent products and top-notch service, so this is exactly the kind of company that belongs in Heico.”

Dominque Gaucher, Bernier’s general manager, added: “We are very pleased to have Heico as our new partners. Bernier’s employees, including its management team, strongly supported the Heico purchase because of their culture and the way they do business. We look forward to a strong future together.”

Darren Wood
By Darren Wood July 5, 2019 08:40