HEICO completes $1.9B acquisition of Wencor; Wencor reported $487.5M revenue in FY2022

HEICO CORP

Total consideration: $1.9B cash (net of adjustments) plus 1,137,628 HEI Class A shares.
Cash funded via $600M of 5.250% notes due 2028 and $600M of 5.350% notes due 2033 plus revolving credit.
Wencor (Jazz Parent) audited FY2022 results: net sales $487.5M, net income $20.5M, total assets $866.1M.
Wencor is a large aftermarket parts and repair provider for commercial and military aircraft.
Acquisition closed August 4, 2023; financial statements of Wencor filed as part of this amendment.

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