Heico Purchases Satellite Filter Company Flight Microwave For Undisclosed Sum

Heico Corp HEI subsidiary Lucix has acquired Flight Microwave Corporation in an all-cash transaction. Financial terms were not disclosed.
Flight Microwave, founded in 2004, is a designer and manufacturer of custom high-power filters and filter assemblies used in space and defense applications.
Heico expects the acquisition to be accretive to its earnings in the year following the purchase.
Lucix is part of Heico's Electronic Technologies Group. Flight Microwave will operate as part of Lucix and eventually relocate to Lucix's Camarillo, CA headquarters, engineering, and production center.
Nearly all of Flight Microwave's team will remain with the business post-closing.
Heico held cash and equivalents of $124.82 million as of January 31, 2022.
Price Action: HEI shares are trading lower by 1.15% at $144.07 on the last check Monday.