Hollywood, Fla.-based HEICO Corp. announced that its Electronic Technologies Group acquired Transformational Security (TS), of Columbia; and Intelligent Devices (ID), of Owings Mills. The cash deal includes potential additional cash consideration to be paid if certain post-closing earnings levels are attained. Further financial details were not disclosed.
HEICO stated that it expects the acquisitions to be accretive to its earnings within the first 12 months after closing. The acquisitions are HEICO’s fourth and fifth acquisitions in its current fiscal year, as well as being HEICO’s second and third acquisitions since the COVID-19 pandemic’s start.
ID, which was founded in 1995 by Edmund Pirali, and TS, which was founded in 2004 by Jon Whittingham, are leading security technology companies that design, develop, manufacture and support state-of-the-art detection and monitoring systems used to protect critical spaces from exploitation via wireless transmissions, technical surveillance, and listening devices. Their products include hardware and software which detect, identify and analyze an array of threats posed in cellular communication security, information security and radio frequency security.
ID and TS offer these solutions, commonly known as Technical Surveillance Countermeasures (or TSCM), to well-funded markets and applications, including intelligence, military, law enforcement, government agencies and the private sector.
Whittingham will serve as the firms’ president and Pirali will serve as its vice president. HEICO stated that it shall continue to operate from its existing location and expects that the two companies will be fully combined and emphasized that it does not anticipate any changes to staff, products or services.