[HEI] doing the happy Dance! Touching 93 nice to see it back in the 90's! Looking Great..... Here's the latest news!!!
Dukane Seacom Acquires Aerospace Electronics Product Line of Instrumar
Yesterday \ M2 Communications
Dukane Seacom Acquires Aerospace Electronics Product Line of Instrumar M2 Communications
19 April 2018 - US-based underwater locator beacon provider Dukane Seacom, Inc. has acquired 100% of the business and assets of the emergency locator transmitter (ELT) beacon product line of St. John's, Newfoundland, Canada-based Instrumar Ltd. in an all-cash transaction, the company said.
Dukane Seacom is part of the electronic technologies group of HEICO Corp. (NYSE: HEI.A) (NYSE: HEI).
Terms of the transaction were not disclosed.
HEICO said that it expects the acquisition to be accretive to its earnings within a year following the purchase. Further financial terms and details were not disclosed.
The ELT Product Line, which has a significant installed base on large commercial transport aircraft, designs and manufactures emergency locator transmitter beacons for the commercial aviation and defense markets.
The ELT product line will be integrated into Dukane Seacom's existing Sarasota, FL facility within a year following closing.
HEICO said the ELT product line acquisition is consistent with its long-term strategy of acquiring highly engineered products and unique technologies.
The Dukane Seacom team has a strong, acquisitive track record, as they have successfully acquired four businesses and/or product lines in the past six years. This acquisition marks HEICO's sixth in the past 12 months.
Dukane Seacom and its sister company, Radiant Power Corp., are focussed on the design and manufacture of underwater locator beacons, emergency power supplies, power distribution and controls, flight deck sensors and indicators, and passenger comfort products for the aerospace and military markets.
HEICO Corp. is engaged primarily in the design, production, servicing and distribution of products and services to certain niche segments of the aviation, defense, space, medical, telecommunications and electronics industries through its Florida-based flight support group and electronic technologies group.
