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HEICO CORPORATION ACQUIRES MAJORITY OF GROWING NICHE TECHNOLOGY COMPONENT MAKER

Partners with the owners and managers of Ironwood Electronics

Eagan, MN and Miami, FL – HEICO Corporation (NYSE: HEI.A and HEI.A) today announced that its Electronic Technologies Group acquired approximately 80% of the capital stock of technology component company Ironwood Electronics, Inc. (“Ironwood”) for cash paid at closing, plus additional cash consideration to be paid if Ironwood meets certain earnings targets. The balance of Ironwood’s shares will continue to be owned by Ironwood’s Chief Executive Officer, David Struyk, and other key managers. Further financial information was not disclosed. 

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