M&A
confidence high
sentiment positive
materiality 0.90
HEICO completes $2.05B acquisition of Wencor Group, its largest ever
HEICO CORP
- Paid $1.9B cash plus $150M HEICO Class A common stock at closing; aggregate value $2.05B.
- Expects acquisition to be accretive to earnings within one year; Wencor projected $724M revenue and $153M EBITDA in CY2023.
- Anticipates net debt-to-EBITDA below 3:1, returning to historical levels within 12-18 months.
- Expects $75M tax benefits realized through fiscal 2038; Wencor joining HEICO Flight Support Group.
- Wencor, a large aircraft aftermarket company, employs ~1,000; HEICO expects meaningful synergies.