Heico’s Electronic Technologies acquired 90% of Southwest Antennas

HEICO (HEI) Corporation announced that its Electronic Technologies Group acquired 90% of Southwest Antennas for cash paid at closing. The balance of the Company will continue to be owned by SWA’s CEO, Ben Culver. 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 the closing. Eric Mendelson and Victor Mendelson, HEICO’s Co-Chairmen and Chief Executive Officers jointly remarked, “This acquisition marks a milestone in our continued expansion in the antenna market. Having known and admired SWA for many years, we believe it is a natural fit for HEICO and we enthusiastically welcome SWA's team to the HEICO family.”