HEICO acquires Switchcraft to enhance the company's expertise in harsh-environment electronic connectors
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. HEICO also acquired military power expert VPT Inc. in Blacksburg, Va., and underwater locator beacon manufacturer the Seacom division of Dukane Corp. in 2009.
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.