South Florida-based HEICO Corp., which designs and produces niche aviation and space products, announced an agreement to acquire Tempe, Ariz.-based Robertson Fuel Systems for $255 million, pending regulator approval. It will be the largest acquisition in HEICO history according to company co-president Victor Mendelson.
Robertson is the leading designer and manufacturer of auxillary fuel systems for military helicopters, with units installed on Apache, Chinook, Black Hawk, Sea Hawk and Osprey craft, the company said. HEICO said it expects no material changes in management or in the 125 staffers located in Tempe and Buffdale, UT.
The acquisition is expected to close in about 60 days.