HEICO Corp. provides medical, telecommunications, and electronic equipment manufacturing for aviation, defense, space, medical, telecommunications and electronics applications. "Switchcraft continues HEICO's practice of acquiring outstanding, niche designers and manufacturers of critical components in the aerospace and electronic industries," says Laurans A. Mendelson, HEICO's chairman and chief executive officer.
HOLLYWOOD, Fla., 23 Oct. 2011. The HEICO Corp. (NYSE:HEI) Electronic Technologies Group in Hollywood, Fla., is acquiring Switchcraft Inc. in Chicago to boost the HEICO Electronic Technologies expertise in high-performance, high-reliability, and harsh-environment electronic connectors and other interconnect products. HEICO Electronic bought all stock of Switchcraft's parent company, Switchcraft Holdco Inc. Financial terms which were not disclosed.Switchcraft designs and builds electronic connectors such as jacks and plugs, cables, patch panels, and switches for aviation, defense, broadcast, audio, industrial, and medical applications. HEICO officials say they expect to close the deal by mid-January.HEICO also acquired military power expert VPT Inc. in Blacksburg, Va., and underwater locator beacon manufacturer the Seacom division of Dukane Corp. in 2009.