Author: Christine Thropp|| Date Published: August 23, 2024
Heico (NYSE: HEI) has completed its cash acquisition of the aerial delivery and descent devices divisions of Capewell Aerial Systems, a provider of proprietary aircraft cockpit emergency egress and aerial delivery products for aerospace and defense applications.
The company said Thursday Capewell’s hardware has been used on U.S. military parachutes since 1940s and now it offers a full-range of descent and delivery systems supporting military and commercial customers.
The acquisition adds Capewell products and capabilities to Heico’s specialty products group operations focused on providing mission-critical components for aerospace and defense missions.
“Capewell’s products are manufactured to the highest reliability and product quality standards, as they are responsible for ensuring pilot and troop safety worldwide,” commented Laurans Mendelson, chairman and CEO of Heico.
In May 2023, Heico agreed to acquire Wencor Group in a cash-and-stock deal valued at $2.05 billion. The acquisition was aligned with the aerospace and defense component manufacturer’s aftermarket product expansion push.
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