MIAMI, FL / ACCESS Newswire / April 7, 2026 / HEICO Corporation (NYSE:HEI.A)(NYSE:HEI) today announced that its Flight Support Group has acquired 80% of the stock of Sherwood Avionics and Accessories, Inc. ("Sherwood"). The balance of the Company's ownership will continue to be held by members of Sherwood's management team. Transaction terms and financial details were not disclosed.
HEICO stated that it expects the acquisition to be accretive to its earnings in the year following closing.
Founded in 1992 and headquartered near Miami's Opa-locka Airport in Florida, Sherwood is an FAA and EASA Part 145 repair station specializing in the maintenance, repair and overhaul (MRO) of complex, mission-critical mechanical and electro-mechanical components for defense and select commercial aviation platforms. The Company's capabilities include auxiliary power units (APUs), landing gear systems, wheels and brakes, pneumatics, hydraulics, fuel and lighting systems, avionics components and related accessories. Sherwood also provides OEM-authorized distribution, engineering services and manufacturing capabilities.
The Company supports a wide range of fixed-wing and rotary-wing aircraft, including the C-130, CH-47, F-15, F-16, UH-60 and other defense platforms. Sherwood operates from two adjacent facilities totaling approximately 70,000 square feet and employs approximately 150 team members. Bryan Farrell, a member of Sherwood's leadership team, will continue to lead the Company's operations from its current facilities.
Eric A. Mendelson and Victor H. Mendelson, HEICO's Co-Chairmen and Co-Chief Executive Officers, jointly commented: "The HEICO Team has admired Sherwood for decades and this represents a highly strategic addition to HEICO's Flight Support Group. Sherwood has an outstanding reputation for technical excellence and reliability in defense-focused MRO with strong OEM relationships, government alignment, and a culture of disciplined execution, thereby making it a perfect fit within HEICO's decentralized operating model. We are pleased to welcome the entire Sherwood team to the HEICO family."
The Farrell family jointly commented, "Our family has spent decades building Sherwood into a trusted partner to OEMs, government agencies and operators around the world. In HEICO, we found a proven long-term partner that respects our culture, values our team, and shares our commitment to technical excellence and customer service. We are excited about our continued OEM-aligned growth and the many opportunities ahead as part of the HEICO organization."
HEICO Corporation is engaged primarily in the design, production, servicing and distribution of products and services to certain niche segments of the aviation, defense, space, medical, telecommunications and electronics industries through its Hollywood, Florida-based Flight Support Group and its Miami, Florida-based Electronic Technologies Group. HEICO's customers include a majority of the world's airlines and overhaul shops, as well as numerous defense and space contractors and military agencies worldwide, in addition to medical, telecommunications and electronics equipment manufacturers. For more information about HEICO, please visit our website at https://www.heico.com.
Certain statements in this press release constitute forward-looking statements, which are subject to risks, uncertainties and contingencies. HEICO's actual results may differ materially from those expressed in or implied by those forward-looking statements. Factors that could cause such differences include, among others: the severity, magnitude and duration of public health threats; our liquidity and the amount and timing of cash generation; lower commercial air travel, airline fleet changes or airline purchasing decisions, which could cause lower demand for our goods and services; product specification costs and requirements, which could cause an increase to our costs to complete contracts; governmental and regulatory demands, export policies and restrictions, reductions in defense, space or homeland security spending by U.S. and/or foreign customers or competition from existing and new competitors, which could reduce our sales; our ability to introduce new products and services at profitable pricing levels, which could reduce our sales or sales growth; product development or manufacturing difficulties, which could increase our product development and manufacturing costs and delay sales; cybersecurity events or other disruptions of information technology systems could adversely affect our business; our ability to make acquisitions, including obtaining any applicable domestic and/or foreign governmental approvals, and achieve operating synergies from acquired businesses; customer credit risk; interest, foreign currency exchange and income tax rates; economic conditions, including the effects of inflation, within and outside of the aviation, defense, space, medical, telecommunications and electronics industries, which could negatively impact our costs and revenues; and defense spending or budget cuts, which could reduce our defense-related revenue. Parties receiving this material are encouraged to review all of HEICO's filings with the Securities and Exchange Commission, including, but not limited to filings on Form 10-K, Form 10-Q and Form 8-K. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
Contact:
Eric A. Mendelson (954) 744-7550
Carlos L. Macau, Jr. (954) 744-7562
SOURCE: HEICO Corporation
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/aerospace-and-defense/heico-corporation-acquires-major-defense-apu-and-component-overhaul-business-1155177
