Heico Purchases Satellite Filter Company Flight Microwave For Undisclosed Sum

• Heico Corp (NYSE:HEI) subsidiary Lucix has acquired Flight Microwave Corporation in an all-cash transaction. Financial terms were not disclosed.
• Flight Microwave, founded in 2004, is a designer and manufacturer of custom high-power filters and filter assemblies used in space and defense applications.
• Heico expects the acquisition to be accretive to its earnings in the year following the purchase.
• Lucix is part of Heico's Electronic Technologies Group. Flight Microwave will operate as part of Lucix and eventually relocate to Lucix's Camarillo, CA headquarters, engineering, and production center.
• Nearly all of Flight Microwave's team will remain with the business post-closing.
• Heico held cash and equivalents of $124.82 million as of January 31, 2022.
• Price Action: HEI shares are trading lower by 1.15% at $144.07 on the last check Monday.