Heico's flight support group segment has acquired 84% of assets and some liabilities of CSI Aerospace, headquartered in Broken Arrow, Oklahoma.
CSI Aerospace specialises in the repair and overhaul of parts for military and commercial aircraft. The company has developed proprietary processes to repair and overhaul pitot sensors, as well as sensors for engine inlet temperature and total air temperature.
Heico expects the accretive acquisition to have an impact on its earnings within a year after the transaction closes. Lufthansa Technik owns 20% of the flight support group, which is based in Hollywood, Florida.