HEICO Corporation Acquires Connect Tech Inc.
August 19, 2020
HEICO Corporation's Electronic Technologies Group acquired 89.99% of Connect Tech Inc. for cash, with potential additional earn-out consideration. Connect Tech will continue operating from its 20,000-square-foot facility in Guelph, Ontario; founder David Worthen remains president and retains the minority stake, and the business (≈65 employees) will support HEICO's capabilities in rugged embedded computing for aerospace, defense, transportation and smart energy markets.
- Buyers
- HEICO Corporation (Electronic Technologies Group)
- Targets
- Connect Tech Inc.
- Sellers
- Connect Tech shareholders (including co-founder David Worthen)
- Industry
- Manufacturing
- Location
- Ontario, Canada
- Transaction Type
- Buyout
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