HOLLYWOOD, Fla., 6 May 2009. The Heico Corp. Electronic Technologies Group (ETG) in Hollywood Fla., which specializes in aerospace electronics technology, is acquiring a majority share of military power expert VPT Inc. in Blacksburg, Va., to improve Heico's offerings in mission critical solutions in high-reliability military power supplies.
Heico ETG, an airborne electronics manufacturer, has acquired 82.5 percent of power electronics specialist VPT. Financial terms were not disclosed. Heico ETG also repairs and overhauls avionics navigation systems and other avionics systems, instruments, and components for military, commercial, and generation aviation aircraft.
VPT specializes in power conversion products for high-reliability military, space, and commercial avionics applications. VPT offers small and lightweight DC-to-DC converters and electromagnetic interference filters, including thick film hermetically sealed hybrids, military commercial-off-the-shelf, and custom-designed power electronics components.
Heico executives say VPT's existing management will remain with VPT under employment and non-competition agreements, adding they do not expect any VPT staff turnover following the transaction. The 17.5 percent of VPT that Heico did not acquire will continue to be owned by an existing shareholder which is also a supplier to VPT.
"Being acquired by Heico allows us to partner with a company that can provide resources for VPT's continued growth and which understands how to foster growth in companies like ours," says Daniel M. Sable, VPT president and co-founder.
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