- I bought a tiny position in HEICO during the quarter and I am excited to be an owner of this business, although I don't love the price I paid.
- In addition to the entrepreneurial culture maintained at each subsidiary post-acquisition, the managing Mendelson family retains a 20% ownership stake in HEICO which provides significant alignment with us, the shareholders.
- I paid 35x that $3 per share of earnings, and while the price is high, this is a very, very small position now, but expect to see more of it in the future.
For further details see:
Argosy Investors - HEICO Corp.