Military

HEICO Acquires VPT Inc.

By Tish Drake | May 8, 2009

HEICO Corp., based in Hollywood, Fla., announced plans Monday to acquire 82.5 percent of VPT, Inc., a Blacksburg, Va.-based provider of power conversion products for the military, space and commercial avionics end-market. Financial terms of the deal were not disclosed. Laurans A. Mendelson, HEICO's chairman, president and CEO, said, "VPT is a perfect fit with our Electronic Technologies Group, as, like our other Electronic Technologies Group companies, VPT is a high quality supplier of niche, mission critical subcomponents found in the most demanding applications." The 17.5 percent of VPT that HEICO did not acquire will continue to be owned by an existing shareholder which is also a supplier to VPT.

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