HEICO Corporation’s Flight Support Group subsidiary, Wencor Group, LLC, announced that it will acquire EthosEnergy Accessories and Components Limited and its U.S. affiliate, EthosEnergy Accessories and Components, LLC. The deal adds a company that repairs aeroderivative gas turbine engine accessories and components, a niche that complements Wencor’s existing portfolio of aftermarket parts for aerospace and defense customers.
The transaction is expected to close in the first quarter of fiscal 2026, subject to regulatory approvals and customary closing conditions. While the purchase price was not disclosed, analysts expect the acquisition to be accretive to HEICO’s earnings within the first year after closing, based on EthosEnergy’s strong cash‑flow profile and the synergies that can be realized by integrating its repair capabilities with Wencor’s Parts Manufacturer Approval (PMA) and Designated Engineering Representative (DER) expertise.
EthosEnergy was founded in 2014 as a joint venture between John Wood Group PLC and Siemens Energy AG and was acquired by private‑equity firm One Equity Partners in January 2025. The company employs 175 people across three leased sites in Connecticut, South Carolina and Scotland, covering more than 175,000 square feet of repair and manufacturing space. The acquisition gives HEICO a foothold in the growing aeroderivative gas turbine market, which is driven by demand for efficient, high‑performance power‑generation solutions and the broader “AI revolution” that is accelerating energy consumption worldwide.
Management emphasized that the deal aligns with HEICO’s long‑term strategy of expanding its aftermarket footprint through targeted acquisitions. “This acquisition positions us to serve a broader segment of the power‑generation market and leverages our PMA/DER capabilities to deliver cost‑effective, FAA‑approved solutions,” said Rikki Blair, Senior Operations Director of Ethos A&C. “Joining the HEICO and Wencor families brings a shared culture and a commitment to customers that will accelerate growth.”
The market reacted positively to the announcement, with analysts noting that the transaction strengthens HEICO’s competitive position in a sector that is experiencing robust demand for maintenance, repair and overhaul services. The acquisition is expected to broaden HEICO’s customer base beyond traditional aerospace applications and to capture new revenue streams in the industrial power market, thereby enhancing long‑term growth prospects.
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