Astroseal (www.astrosealproducts.com) makes expanded foil mesh which is integrated into composite aerospace structures for lightning strike protection in fixed and rotary wing aircraft. Nearly all aircraft make use of composites needing Astroseal’s Astrostrike® products for both shielding and lightning protection on large areas of the fuselage, wings, empennage, stabilizers, engine nacelles, propellers, winglets, and the rotor blades. Composite materials are increasingly used in aviation applications and expanded foil mesh is the most widely used technology to protect composite structures when struck by lightning. Founded in 1965, Astroseal is located in Chester, Connecticut.
HEICO has significantly grown its composite components operations over the past 2½ years through a combination of acquisitions and organic growth. HEICO is engaged primarily in 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. HEICO's customers include a majority of the world's airlines and overhaul shops, as well as numerous commercial aircraft, defense and space contractors and military agencies worldwide, in addition to medical, telecommunications and electronics equipment manufacturers.
Astroseal Products Mfg. Corporation (“Astroseal” or “the Company”) announced that it has been acquired by the Flight Support Group of HEICO Corporation (NYSE:HEI.A and HEI). This transaction is the successful culmination of an initiative led by Bigelow LLC on behalf of the shareholders of Astroseal to proactively seek out the best new majority owner of the Company.
“Having HEICO, a first class, quality company as our preferred acquirer, delivers to us a high degree of comfort for the future growth of our Astrostrike® products. The outstanding professionalism of the HEICO team, along with their strong core values provides us with great confidence for the future of both our customers and our employees. We could not imagine a better steward for our company than HEICO.” Ken and Deb Grass, Owners Astroseal Products Mfg.
“We are impressed with the technical accomplishments of Ken Grass and his team, as well as the breadth of composite manufacturers’ approvals obtained by Astroseal. Astroseal augments HEICO Flight Support Group’s expanding offering of aerospace composite products.” Laurans Mendelson, Chairman and CEO HEICO Corporation
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The undersigned acted as M+A advisor to Asroseal Products Mfg. Corporation.