HEICO Corporation (HEI) Acquires Gables Engineering

HEICO Corporation (NYSE:HEI) is among the 10 Best Aerospace Stocks to Buy Now. On July 24, the company announced the acquisition of Gables Engineering, Inc., a leading provider of advanced avionics controls, for cash at closing.

While further financial details were not stated, HEICO Corporation (NYSE:HEI) said that it expects the acquisition to be accretive to earnings within a year of purchase. The company’s Executive Chairman, Laurans A. Mendelson, Eric A. Mendelson, and Victor H. Mendelson, the two co-CEOs, stated the following in a joint statement:

“Gables Engineering is a natural fit for HEICO’s culture of performance, innovation, and long-term growth. Located close to HEICO’s headquarters and numerous other HEICO facilities, this acquisition reinforces our commitment to investing in high-quality, American manufacturing and engineering excellence.”

Gables Engineering performs key manufacturing and engineering functions in its facility in Coral Gables. It is recognized as a pioneering aviation innovator, having developed advanced solutions for several leading aerospace platforms, including Boeing, for which it recently built modern touchscreen cockpit displays for the 737 MAX.

HEICO Corporation (NYSE:HEI) is an aerospace and technology company that manufactures jet engines and aircraft parts. It also supports the government through activities such as reverse engineering, manufacturing aircraft engines and parts, and repair and maintenance services.

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