HEI - Heico takes 96% stake in Accurate Metal Machining

• Heico's ( NYSE: HEI ) Flight Support Group has acquired 96% of Cleveland-based Accurate Metal Machining for cash at closing, plus potential additional cash consideration to be paid if certain post-closing earnings levels are achieved.
• The acquisition is expected to be accretive to its earnings within the year following closing.
• Founded in 1976, Accurate Metal Machining manufactures components and assemblies for large aerospace, defense, and semiconductor equipment subsystem suppliers. It employs around 250 people at its Cleveland production facility. The deal adds new products and capabilities to Heico's ( HEI ) Specialty Products Group operations.
• Read a recent SA analysis on Heico here

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