HEICO Corporation Acquires Important High-Performance RF And Microwave Antenna Company

HEICO Corporation today announced that its Electronic Technologies Group acquired 90% of Southwest Antennas, Inc. ("SWA") for cash paid at closing. The balance of the Company will continue to be owned by SWA's CEO, Ben Culver. Further terms and financial details were not disclosed.

HEICO stated that it expects the acquisition to be accretive to its earnings within the year following the closing.

Founded in 2005, SWA designs and manufactures high-performance rugged and mission-critical antennas primarily for ground-based defense and law enforcement applications. SWA's antennas are used in various mission-critical and contested combat applications.

HEICO stated that it does not expect any Team Member turnover result from the acquisition and that SWA will continue under the direction of its longtime CEO and half owner, Ben Culver.

Headquartered in Poway, CA, SWA will continue to operate out of its 25,000 square-foot facility with its dedicated team of more than 110 professionals. SWA designs and manufactures its mission-critical RF and microwave antennas operating within frequencies up to 8.5GHz. In addition to its antennas, SWA provides accessory products such as antenna mounting solutions, block downconverters, low noise amplifiers, filter modules, and other RF/Microwave accessory products.

Eric A. Mendelson and Victor H. Mendelson, HEICO's Co-Chairmen and Chief Executive Officers jointly remarked, "This acquisition marks a milestone in our continued expansion in the antenna market. Having known and admired SWA for many years, we believe it is a natural fit for HEICO and we enthusiastically welcome SWA's team to the HEICO family."

Ben Culver, SWA's President and CEO, stated, "We are excited to join the HEICO family. Partnering with HEICO, an organization that shares our commitment to culture, innovation, and customers, ensures our long-term ability to exceed our customers' needs."

About HEICO Corporation
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, visit https://www.heico.com.