HEICO agrees to acquire Exxelia for €453M cash, its largest-ever acquisition

HEICO CORP

Purchase price €453M cash plus assumption of ~€14M liabilities; total enterprise value ~€467M.
Exxelia expected to generate ~€190M revenue in CY2022, primarily from aerospace/defense components.
Closing expected by end of HEICO's fiscal Q1 2023, pending works council consultations and regulatory approvals.
Exxelia management to retain ~5% minority stake; CEO Paul Maisonnier to continue leading post-acquisition.
HEICO expects acquisition to be accretive to EPS within one year of closing.

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