Heico Corp. has agreed to buy a Southern California company that specializes in components for military and commercial satellites, the company said this week.
Financial details of the deal with Lucix Corp. were not disclosed, but the company said it expects the acquisition to be accretive to its earnings within the first year. The deal is expected to close within 60 days.
The management team at Lucix, which is based in Caramillo, Calif., is expected to remain in place and no turnover at the roughly 140-employee company is anticipated, the company said in a press release.
Heico, which has headquarters in Miami and Hollywood, makes components for the space, defense, communications, medical and computer industries as well as replacement parts for airplanes.