HEICO Buys 80.1% of Action Research, Sees Deal Adding to Earnings Within First Year of Closing

HEICO Corporation(NYSE:HEI.A) (NYSE: HEI) today announced that its Flight Support Group hasacquired 80.1% of the assets and certain liabilities of Action ResearchCorporation of Greer, SC.  Financial terms were not disclosed, but HEICOstated that it expects the acquisition to be accretive within the first yearafter the closing.Action Research Corporation (ARC) is an FAA-Approved Repair Station located inGreer, South Carolina.  ARC has developed unique proprietary repairs thatextend the lives of certain engine and airframe components.  ARC brings aseasoned engineering team with decades of experience in the design and repairof gas turbine fuel systems, heated airframe components and other technical,high value accessories.  Greg Braselton, who founded ARC, will continue tolead the company and own 19.9%.  HEICO also stated that it does not expect anyemployee turnover to result from the acquisition.