HEICO Corporation has acquired an 80% ownership interest in Sherwood Avionics and Accessories, Inc., a Florida‑based repair station that specializes in the maintenance, repair, and overhaul of mechanical and electro‑mechanical components for both defense and commercial aircraft. The remaining 20% of Sherwood remains in the hands of its management team, allowing the company’s leadership to retain operational control while benefiting from HEICO’s capital resources and global network.
Sherwood, founded in 1992 and headquartered near Miami’s Opa‑locka Airport, operates as an FAA and EASA Part 145 repair station. Its two facilities cover roughly 70,000 square feet and employ about 150 people. The company’s MRO portfolio includes auxiliary power units, landing gear systems, wheels and brakes, pneumatics, hydraulics, fuel and lighting systems, avionics components, and related accessories. Sherwood supports a range of fixed‑wing and rotary‑wing platforms, including the C‑130, CH‑47, F‑15, F‑16, and UH‑60, and is led by Bryan Farrell, who will continue to oversee operations after the transaction.
The acquisition is a strategic fit for HEICO’s Flight Support Group, which already serves airlines, cargo carriers, and defense customers. By adding Sherwood’s defense‑focused MRO capabilities, HEICO broadens its aftermarket offerings and deepens relationships with government and commercial clients. The deal is expected to be accretive to earnings in the year following closing, as the company anticipates cross‑selling opportunities and operational synergies while preserving Sherwood’s entrepreneurial agility under HEICO’s decentralized model.
Eric A. Mendelson and Victor H. Mendelson, HEICO’s co‑chairmen and co‑chief executive officers, said, "The HEICO Team has admired Sherwood for decades and this represents a highly strategic addition to HEICO's Flight Support Group. Sherwood has an outstanding reputation for technical excellence and reliability in defense‑focused MRO with strong OEM relationships, government alignment, and a culture of disciplined execution."
HEICO’s recent financial performance underscores the timing of the acquisition. In Q1 of fiscal 2026, the company reported net income of $190.2 million, up 13% from $168.0 million in the same quarter a year earlier, and net sales of $1.1786 billion, a 14% increase from $1.0302 billion. The acquisition aligns with HEICO’s broader strategy of growing through targeted acquisitions that complement its core Flight Support Group and Electronic Technologies Group segments, reinforcing its position as a leading independent supplier of FAA‑approved PMA components and aftermarket solutions.
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