HEICO Corp. Acquires dB Control
HEICO Corp. announced that its Electronic Technologies Group acquired substantially all of the assets and certain liabilities of dB Control, a producer of Traveling Wave Tube Amplifiers ("TWTA"), Microwave Power Modules ("MPM") and other high-power devices used in both defense and commercial applications.
Terms and financial details were not disclosed. HEICO stated that it expects the acquisition to be accretive to its earnings within the next twelve months.
dB Control’s TWTAs and MPMs are used predominantly in radar, electronic warfare, on-board jamming and countermeasure systems in aircraft, ships and detection platforms deployed by U.S. and allied non-U.S. military forces. The company also produces high-voltage power supplies found in satellite communication, medical and industrial x-ray systems. dB Control adds to HEICO’s existing presence in high-voltage, microwave and high-power design and production on various programs.
dB Control’s products are typically associated with radar-enabled high-power threat detection, avoidance and targeting platforms such as the Predator, Reaper, Fire Scout, Sky Warrior and Global Hawk Unmanned Aerial Vehicles ("UAV") or "drone" aircraft. dB Control’s products are also used onboard the MH-60 Knighthawk/Seahawk helicopters, B-52, AC-130, MC-130, MC-12 Project Liberty and other aircraft. In addition, dB Control systems are utilized by ship-borne radar, such as high-power "sea skimming" missile radar.
Founded in 1990 and based in Fremont, California, dB Control employs approximately 125 people. Joseph Hajduk, dB Control’s CEO and co-founder, will remain with the business in the same role as prior to the purchase. HEICO also stated that it does not expect material staff turnover following the acquisition.
Laurans A. Mendelson, HEICO’s Chairman and Chief Executive Officer, remarked, "dB Control is a unique company which offers HEICO more participation in a growing part of both U.S. and non-U.S. defense budgets. In the U.S. Department of Defense Quadrennial Defense Review released two weeks ago, the Department of Defense made clear its intention to continue to rely more on high power radar and electronic warfare systems by dramatically increasing the size of its UAV fleet and by adding to other threat detection capabilities. We believe dB Control’s strong position in these growing markets, combined with its high technology capabilities, should provide for additional growth."
Mendelson added, "We are especially pleased to add Joe Hajduk and dB Control’s talented team members to our growing company. dB Control’s commitment to high quality and its growth-focused culture are a perfect fit with HEICO."
Joseph Hajduk remarked, "We felt that HEICO would be ideal due to our similar approaches to business. HEICO understands design and production for high reliability and is committed to ensuring that our customers continue to receive the service for which we are known."