American Marconi Wireless News - HEICO Corporation's Exxelia Acquires Leading High-Voltage Ceramic Capacitor Company

HEICO stated that it expects the acquisition to be accretive to its earnings within the year following the closing. This marks HEICO's fifth acquisition thus far in its current fiscal year.

Based in Reno, NV, CalRamic designs and manufactures high-voltage ceramic capacitors for high-reliability applications, primarily serving the aerospace and defense markets, as well as select industrial niches.

Founded in 2002, CalRamic's products fall into two main categories: disc capacitors and Multi-Layer Ceramic Capacitors (MLCC). Disc capacitors are single-layer ceramic capacitors, essential for high-voltage, high-pulse, and high-temperature applications. MLCCs are used in a wide range of high-voltage requirements. CalRamic has positioned itself as a niche, specialized supplier of both disc capacitors and MLCCs for more than two decades.

CalRamic will operate as part of HEICO Electronic Technologies Group's Exxelia subsidiary, which has been expanding its capacitor portfolio to include high-voltage ceramic capacitors. Through this acquisition, Exxelia will gain access to a strategic U.S. based manufacturing platform for ceramic capacitors.

CalRamic will remain in its facilities with its dedicated team of over 40 professionals.

HEICO stated that it does not expect any Team Member turnover to result from the acquisition. CalRamic will continue operating under Jeff Day's leadership, its founder and CEO.

Eric A. Mendelson and Victor H. Mendelson, HEICO's Co-Chairmen and Chief Executive Officers, together with Paul Maisonnier, Exxelia's CEO, commented, "We are thrilled to welcome CalRamic to the Exxelia and HEICO families. Teaming up with CalRamic enhances our ability to further develop and expand our high-reliability and high-voltage ceramic capacitor capabilities."

Jeff Day, CalRamic's CEO, stated, "We could not be more excited to have found a home within Exxelia and HEICO. This partnership enables us to accelerate our growth, leveraging both Exxelia's sales network and its industry expertise, while preserving the talented team and customer-focused culture that have been at the core of CalRamic's success for more than two decades."

HEICO Corporation is engaged primarily in the design, production, servicing and distribution of products and services to certain niche segments of the aviation, defense, space, medical, telecommunications and electronics industries through its Hollywood, Florida-based Flight Support Group and its Miami, Florida-based Electronic Technologies Group. HEICO's customers include a majority of the world's airlines and overhaul shops, as well as numerous defense and space contractors and military agencies worldwide, in addition to medical, telecommunications and electronics equipment manufacturers. For more information about HEICO, please visit our website at https://www.heico.com.

Certain statements in this press release constitute forward-looking statements, which are subject to risks, uncertainties and contingencies. HEICO's actual results may differ materially from those expressed in or implied by those forward-looking statements. Factors that could cause such differences include, among others: the severity, magnitude and duration of public health threats; our liquidity and the amount and timing of cash generation; lower commercial air travel, airline fleet changes or airline purchasing decisions, which could cause lower demand for our goods and services; product specification costs and requirements, which could cause an increase in our costs to complete contracts; governmental and regulatory demands, export policies and restrictions, reductions in defense, space or homeland security spending by U.S. and/or foreign customers or competition from existing and new competitors, which could reduce our sales; our ability to introduce new products and services at profitable pricing levels, which could reduce our sales or sales growth; product development or manufacturing difficulties, which could increase our product development and manufacturing costs and delay sales; cybersecurity events or other disruptions of our information technology systems could adversely affect our business; and our ability to make acquisitions, including obtaining any applicable domestic and/or foreign governmental approvals, and achieve operating synergies from acquired businesses; customer credit risk; interest, foreign currency exchange and income tax rates; and economic conditions, including the effects of inflation, within and outside of the aviation, defense, space, medical, telecommunications and electronics industries, which could negatively impact our costs and revenues. Parties receiving this material are encouraged to review all of HEICO's filings with the Securities and Exchange Commission including, but not limited to filings on Form 10-K, Form 10-Q and Form 8-K. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.

SOURCE: HEICO Corporation

View the original press release on ACCESS Newswire

P.Mathewson--AMWN