Heico acquires Capewell’s Aerial Delivery, Descent Devices divisions

HEICO announced its Flight Support Group has acquired the Aerial Delivery and Descent Devices divisions of Capewell Aerial Systems for cash at closing. Additional financial details were not disclosed. HEICO stated that it expects the acquisition to be accretive to its earnings within the year following closing. Connecticut-based Capewell is a leading provider of proprietary aircraft cockpit emergency egress and aerial delivery products for various commercial aerospace and defense uses. It is a critical supplier to a wide-ranging customer base that includes leading OEMs, end-users, and distributors. Capewell’s highly engineered product portfolio encompasses emergency descent devices, personnel and cargo parachute products, heavy airdrop platforms, and other highly-engineered products. The Survivability division of Capewell will be retained by Argosy Private Equity of Wayne, PA, under the Aerial Machine & Tool Corp brand. Capewell adds additional products and capabilities to HEICO’s rapidly-growing and highly-successful Specialty Products Group operations which are dedicated to manufacturing high-reliability, mission-critical components for primarily aerospace and defense customers.