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Slide #47. HEICO Corporation — Reinhold Industries, Inc.
Acquirer:
HEICO Corporation (NYSE:HEI)
Acquiree:
Reinhold Industries, Inc.
Details:
HEICO Corporation (NYSE:HEI.A) (NYSE:HEI) today announced that it has entered into a definitive agreement to acquire Reinhold Industries, Inc. ("Reinhold") from certain affiliates of The Jordan Company, L.P., a New York-based investment firm, and Reinhold management. Reinhold will be part of HEICO's Flight Support Group. Financial details were not disclosed, but HEICO stated that it expects the acquisition to be accretive to its earnings per share within the first twelve months following closing.
HEICO is a holding company. Through its subsidiaries, Co. manufactures jet engine and aircraft component replacement parts. Co. is also a manufacturer of various types of electronic equipment for the aviation, defense, space, medical, telecommunications and electronics industries. Co.'s segments are: Flight Support Group, which designs and manufactures jet engine and aircraft component replacement parts for sale; and Electronic Technologies Group, which designs, manufactures and sells various types of electronic, data and microwave, and electro-optical products, memory products, radio frequency sources, detectors and controllers, silicone material for various of applications, and others.
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Strong Buy (3.52 out of 4) 60th percentile
(ranked higher than approx. 60% of all stocks covered)
Analysts' Target Price: HEI Stock Forecast Based on Zacks ABR data; powered by Xignite |