HEICO acquires 80 percent of Greer's ARC

Published on Friday, October 19, 2012

HEICO Corporation (NYSE:HEI) announced that its Flight Support Group has acquired 80.1 percent of the assets and certain liabilities of Action Research Corporation of Greer.  Financial terms were not disclosed, but HEICO stated that it expects the acquisition to be accretive within the first year after the closing.

Action Research Corporation (ARC) is an FAA-Approved Repair Station located in Greer.  ARC has developed unique proprietary repairs that extend the lives of certain engine and airframe components.  Greg Braselton, who founded ARC, will continue to lead the company and own 19.9 person.  HEICO also stated that it does not expect any employee turnover to result from the acquisition.

Greg Braselton stated, "Becoming part of the HEICO team is exciting and strategically a great fit for ARC and HEICO.  We are complementing HEICO's ability to bring high quality aircraft maintenance alternatives with our proven manufacturing and engineering work force.  I firmly believe our customers, our team and HEICO will all benefit with this new relationship."

Eric Mendelson, Co-President of HEICO, added, "HEICO is proud to welcome Greg and ARC's highly talented team as we broaden HEICO's already deep portfolio of cost-saving products and services to the worldwide airline industry."



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