Squire Patton Boggs has acted for HEICO Corporation’s Electronic Technologies Group on a put option agreement to acquire Exxelia International from an affiliate of IK Partners, the European private equity firm, and additional sellers for €453 million. The transaction would be HEICO's largest-ever acquisition.
The team advising HEICO is led by Paris Corporate partner Charles Fabry and includes associate Dan Hassett and counsel Erling Estellon.
Exxelia, headquartered in Paris, is a global leader in the design, manufacture and sale of high-reliability, complex, passive electronic components and rotary joint assemblies for mostly aerospace and defense applications, in addition to other high-end applications, such as medical and energy uses, including emerging "clean energy" and electrification applications. Exxelia's global operations comprise eleven advanced locations worldwide, including six in France, two in the US (one in Florida and one in New York), and one each in India, Morocco and Vietnam.
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.
“We’re delighted to have supported our valued client HEICO on its largest acquisition to date,” said Charles Fabry. “This major transaction marks a significant investment for HEICO’s business in Europe and internationally.”