HEICO announced that its Mid Continent Controls (MC2) subsidiary acquired all of the ownership interests of Eugene, Oregon-based Rosen Aviation for cash consideration paid at the deal’s closing. The further terms and financial details were not disclosed.
HEICO expects the acquisition to accrue to its earnings within the year following the acquisition. This deal marks HEICO’s fourth acquisition in the past six months.
Rosen designs and builds in-flight entertainment (IFE) products, principally in-cabin displays and control panels, for the business and VVIP aviation markets. The company will operate as a wholly-owned subsidiary of MC2, a niche designer and manufacturer specializing in proprietary in-cabin power and entertainment components and subsystems for business jets.
These two businesses believe they can achieve essential synergies, such as offering a larger set of aircraft interior IFE solutions, integrating their respective products to provide state-of-the-art designs and equipment to aircraft manufacturers, operators, completion centers, and sub-system suppliers.
Launched 45 years ago in 1980, Rosen enjoys a unique pedigree in the business and VVIP aircraft markets through its widely recognized and innovative product lines installed as standard equipment on a significant aircraft base of both in-production and legacy aircraft.
MC2 and Rosen are part of the HEICO Electronic Technologies’ Radiant Power family of companies. And MC2’s President Thomas Hemphill will lead both businesses.
Advisor: Mesirow acted as the sole financial advisor to the sellers.
