HEICO announced that its flight support group subsidiary, Wencor Group, completed its previously announced acquisition of EthosEnergy Accessories and Components and EthosEnergy Accessories and Components.
Ethos A&C is expected to be accretive to HEICO’s earnings within the year following closing. Other transaction terms and financial details were not disclosed.
Ethos A&C repairs a large portfolio of engine accessories including fuel nozzles, wire harnesses, starters, valves, plenum assemblies, air diffusers and engine components including blades, vanes, seals and other related components.
Ethos A&C has grown from its inception in 1979 into a leading provider of engine component and accessory repair solutions for the aeroderivative gas turbine, aerospace, and defense markets. Ethos A&C has 175 employees at three leased locations in Connecticut, South Carolina and Scotland, spanning over 175,000 square feet.
Eric A. Mendelson and Victor H. Mendelson, HEICO’s co-chairmen and co-chief executive officers, together with Shawn Trogdon, Wencor’s chief executive officer, commented: “We are excited to welcome Ethos A&C to the Wencor and HEICO families. Bringing our teams together strengthens our capabilities in the aeroderivative industrial gas turbine market and expands our ability to serve customers worldwide as energy demand continues to grow.”