---
schema_version: "secwatch.filing_event.v1"
accession: "0000950142-23-001445"
form_type: "8-K"
ticker: "HEI"
cik: "0000046619"
company_name: "HEICO CORP"
filed_at: "2023-05-15T23:59:59+00:00"
generated_at: "2026-06-15T01:43:07.033250+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# HEICO acquires Wencor Group for $2.05B ($1.9B cash + $150M stock), its largest deal

## Summary
- Acquisition valued at $2.05 billion: $1.9B cash and $150M in HEICO Class A Common Stock at closing.
- Wencor projected to generate ~$724M revenue and ~$153M adjusted EBITDA in CY2023; effective purchase multiple ~12.9x.
- Expected tax benefits of ~$75M through FY2038; accretion expected within one year of closing.
- Closing expected by end of calendar 2023, subject to antitrust clearance; Wencor will join Flight Support Group.
- HEICO anticipates net debt-to-EBITDA leverage below 3:1 post-closing, returning to historical levels within 12-18 months.

## SEC filing metadata
- accession: 0000950142-23-001445
- form_type: 8-K
- ticker: HEI
- cik: 0000046619
- company_name: HEICO CORP
- filed_at: 2023-05-15T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/46619/000095014223001445/0000950142-23-001445-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/46619/000095014223001445/eh230358705_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950142-23-001445
- JSON: https://secwatch.observer/filing/0000950142-23-001445.json
- Plain text: https://secwatch.observer/filing/0000950142-23-001445.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.