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HEICO Acquires Majority Stake In Military Aircraft Parts Firm

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HEICO Corp. [HEI] yesterday said it has acquired an 80 percent stake in military aircraft parts and support services firm Blue Aerospace, which primarily services foreign military organizations allied with the United States. Terms of the deal were not disclosed but HEICO expects it to be accretive to earnings within a year. Some of the platforms that Florida-based Blue supports include the C-130, P-3 and F-16 aircraft. The company is an authorized distributor of P-3 spare parts and is the…

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