HEICO Corp. Acquires Leading Aircraft Antenna Company

Electronic Technologies Group Acquires Sensor Systems

CHATSWORTH, CA and MIAMI, FL / ACCESSWIRE / August 11, 2022 / HEICO Corporation (NYSE:HEI and HEI.A) today announced that its Electronic Technologies Group acquired all of the stock of Sensor Systems, Inc. ("Sensor") for a combination of cash and approximately 575,000 HEICO Class A Common Shares. Further financial details were not disclosed.

HEICO stated that it expects the acquisition to be accretive to its earnings in the year following the acquisition.

Chatsworth, CA-based Sensor is one of the world's leading designers and manufacturers of airborne antennas for commercial and military applications. Recognized as an international standard for many of its antennas, Sensor's products include, among others, Aircraft Direction Finding ("ADF"), Altimeter, Glideslope, Global Positioning System ("GPS"), L-Band, Marker Beacon, satellite communications, Total Collision Avoidance System ("TCAS"), Very High Frequency ("VHF") and Very High Frequency Omni-directional Range ("VOR") antennas. Sensor's antennas are found on nearly all large commercial transport aircraft built in the last 50 years, along with numerous business and military aircraft.

Sensor was built-up over a more than 50 year period by the dynamic and legendary husband and wife team of Seymour ("Si") Robin and Mary ("Betty") Bazar. Betty and her first husband, aviation entrepreneur and engineer Harvey Bazar, founded the company in 1961, successfully developing it together until Harvey's unfortunate and sudden passing in 1965 at the age of 42.

As a mother with two children and a business, Betty demonstrated her characteristic strength and determination by continuing the company. Highly-successful aviation entrepreneur Si Robin joined the company in 1972. Si's industry knowledge and passion for aviation helped supercharge the company and later, in 1988, the super-duo of Betty and Si were married. Betty passed away in June 2021 at age 98, but remained active in, and an important part of, the company until her passing.

Known throughout the aviation field as both innovators and pioneers, Si and Betty led Sensor in developing and providing hundreds of thousands of antennas on dozens of aircraft types and numerous defense applications. They were fixtures at many industry trade shows and meetings where they helped aircraft pioneers and more established firms perfect their products.