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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