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Heico acquires RH Laboratories
HEICO Corporation's Electronic Technologies Group acquired 80.1% of the stock of RH Laboratories, Inc. (“RH”) for cash paid at closing. RH’s founders will continue to own the balance of the company. Further terms and financial details were not disclosed.
Nashua, NH-based RH is a designer and manufacturer of RF and microwave integrated assemblies, sub-assemblies and components used in a broad range of defense applications operating in harsh environments including Space. RH employs 45 people at its 21,000 square foot Nashua engineering and production facility. RH was founded in 2001 by Benjamin Robinson, his son Stephen Robinson and Frank Holt. All three will continue in their pre-closing roles, with Benjamin remaining as CEO, Stephen remaining as President and Frank continuing as Vice President of Engineering, a press release reads. Further, the Robinsons and Mr. Holt will continue to own 19.9% of RH. HEICO stated that it does not expect any employee turnover to result from the acquisition. Laurans A. Mendelson, HEICO’s Chairman & Chief Executive Officer, along with Victor H. Mendelson, HEICO’s Co-President and CEO of its Electronic Technologies Group, remarked, “We welcome Ben, Stephen, Frank and the entire RH family to the HEICO family. This remarkable company exemplifies the commitment to engineering excellence and customer prioritization that make RH a great fit with HEICO. We are excited to have RH’s people, products and talent within HEICO.” Benjamin and Stephen Robinson commented, “We looked hard for the right partner for our company, a business which we’ve nurtured and grown for two decades. After getting to know the people at HEICO over several years, we believe they best understand our business and will respect our people, our legacy, our customers and the way we operate. We look forward to a strong future together. We are proud to be partnering with such a reputable company that shares our values.”