Author Topic: HEI.A - Heico  (Read 46664 times)

Liberty

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Re: HEI.A - Heico
« Reply #100 on: May 31, 2019, 01:53:50 PM »
I posted some highlights from the most recent call in this thread, if anyone's interested:

https://twitter.com/LibertyRPF/status/1133813855770091522

Some about the company culture, about their long-term thinking, capital allocation, etc.
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Liberty

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Re: HEI.A - Heico
« Reply #101 on: June 03, 2019, 06:52:29 AM »
New ETG acquisition:

https://www.businesswire.com/news/home/20190603005140/en/

Quote
Electronic Technologies Group acquired 75% of the ownership of Cookeville, TN-based Research Electronics International, LLC (“REI”) in an all cash transaction. REI’s two owners/managers retained the remaining 25% ownership. No further financial details were disclosed.

HEICO expects the acquisition to be accretive to its earnings within the first 12 months after closing.

REI is the leading designer and manufacturer of Technical Surveillance Countermeasures (“TSCM”) equipment to detect devices used for espionage and information theft. REI’s products, which are fully designed and manufactured internally, are known as the most advanced and user-friendly in the TSCM industry. REI’s customers include government agencies, law enforcement, corporate security personnel and TSCM professionals worldwide. REI’s equipment is in use in over 100 countries.

h/t @jerrycap
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coc

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Re: HEI.A - Heico
« Reply #102 on: June 03, 2019, 10:23:46 AM »
I posted some highlights from the most recent call in this thread, if anyone's interested:

https://twitter.com/LibertyRPF/status/1133813855770091522

Some about the company culture, about their long-term thinking, capital allocation, etc.

Hey Liberty, thanks for posting that.

Liberty

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Re: HEI.A - Heico
« Reply #103 on: July 02, 2019, 07:20:44 AM »
New acquisition by the ETG group, this one in France:

https://www.businesswire.com/news/home/20190702005347/en/HEICO-Corporation-Acquires-Leading-French-Interconnect-Business

Quote
Founded in 1933, BERNIER is a leading French designer and manufacturer of interconnect products used in demanding defense, aerospace and industrial applications, primarily for communications-related purposes. BERNIER’s products are sold mostly within France, the European Community, Asia, the Middle East and the USA.
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Liberty

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Re: HEI.A - Heico
« Reply #104 on: August 27, 2019, 05:34:06 PM »
https://www.businesswire.com/news/home/20190827005774/en/HEICO-Corporation-Reports-Record-Operating-Income-Net

Quote
3rd Quarter of Fiscal 2019 Net Income up 21% on Operating Income Increase of 18% and Net Sales Increase of 14%

During fiscal 2019, we successfully completed six acquisitions and completed seven acquisitions over the past year.

Based on our current economic visibility, we now estimate our consolidated fiscal 2019 year-over-year net sales growth to be 14% - 15% and net income growth to be 23% - 24%, up from our prior growth estimates in net sales of 12% - 13% and in net income of 17% - 18%. Additionally, we now anticipate our consolidated operating margin to approximate 22.0%, up from our prior estimate of 21.5% - 22.0%
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Liberty

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Re: HEI.A - Heico
« Reply #105 on: September 10, 2019, 07:09:53 AM »
ETG acquisition:

https://finance.yahoo.com/news/heico-corporation-subsdiary-acquires-ttt-123000435.html

Quote
Founded in 2012, TTT is the leading designer and manufacturer of cutting edge RF Sources, Detectors, and Controllers for a certain wide range of aerospace and defense applications. Among TTT’s most recognized products are high-end frequency locked oscillators and integrated digital control units.
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Liberty

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Re: HEI.A - Heico
« Reply #106 on: September 11, 2019, 06:59:46 AM »
Scuttleblurb's writeup on Heico is up (subscription required):

https://www.scuttleblurb.com/hei/
« Last Edit: September 11, 2019, 07:41:14 AM by Liberty »
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Gregmal

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Re: HEI.A - Heico
« Reply #107 on: September 12, 2019, 07:45:47 PM »
Scuttleblurb's writeup on Heico is up (subscription required):

https://www.scuttleblurb.com/hei/

This part of the piece stuck out
"The HEICO that we know
today was created in late 1989 when accountant-turned-real estate investor
Laurans Mendelson, backed by an investor group, took control of the company’s
Board, ousted the management team, placed himself at the helm as CEO and installed
his two sons, Eric and Victor, to key leadership positions"

What probably looked like a serious case of nepotism and something that many investors immediately see and write off an investment immediately because of, turned out to be just the start of one of the greatest runs of value creation one will ever see...just another instance of why investors should remain openminded and flexible.

Liberty

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Re: HEI.A - Heico
« Reply #108 on: September 13, 2019, 04:39:56 AM »
Scuttleblurb's writeup on Heico is up (subscription required):

https://www.scuttleblurb.com/hei/

This part of the piece stuck out
"The HEICO that we know
today was created in late 1989 when accountant-turned-real estate investor
Laurans Mendelson, backed by an investor group, took control of the company’s
Board, ousted the management team, placed himself at the helm as CEO and installed
his two sons, Eric and Victor, to key leadership positions"

What probably looked like a serious case of nepotism and something that many investors immediately see and write off an investment immediately because of, turned out to be just the start of one of the greatest runs of value creation one will ever see...just another instance of why investors should remain openminded and flexible.

I've heard that it was actually one or both the sons who brought the idea to the father originally, but I can't be sure that's true. They've built it from the start.
"Most haystacks don't even have a needle." |  I'm on Twitter  | This podcast episode is a must-listen