- Acquires RF and Microwave Specialist Paciwave in 6th Acquisition this Year
HEICO Corporation announced that its dB Control subsidiary acquired 100% of Paciwave, Inc. for cash paid at closing. No further transaction or financial details were disclosed. dB Control is part of HEICO’s Electronic Technologies Group.
HEICO stated that it expects the acquisition to be accretive to its earnings within the year following closing. Paciwave is HEICO’s sixth acquisition in its current fiscal year.
Sunnyvale, CA-based Paciwave is a specialized designer and manufacturer of RF and microwave components and integrated assemblies specializing particularly in PIN Diode Switches, PIN Attenuators, PIN Limiters, Switching Assemblies and integrated subsystems found in defense and other complex electronic applications. Its customers include defense contractors and electronics manufacturers both within and outside the United States.
Founded in 1995 by Parimal Kadakia, Paciwave will be relocated into dB Control’s nearby Fremont, CA facility where it will operate as a dB Control product line. Mr. Kadakia will remain as a consultant to Paciwave for a transitionary period and most Paciwave employees are expected to remain with the company post-closing. dB Control has been a long-time Paciwave customer and partner.
Laurans A. Mendelson, HEICO’s Chairman and Chief Executive Officer, along with Victor H. Mendelson, HEICO’s Co-President and CEO of its Electronic Technologies Group, as well as Michael England, dB Control’s President, commented, “Paciwave’s mission-critical products and reputation for excellent quality are welcome additions to HEICO and dB Control as we continue to expand our already substantial product offering. Parimal Kadakia built a very special business and we’re honored to have it as part of our Company.”
Parimal Kadakia, Paciwave’s Founder and President, remarked, “I’m pleased to have found the right home for Paciwave. Having known and worked with dB Control for years, I believe dB will support our customers and our people very well.”
HEICO Corporation is engaged primarily in the design, production, servicing and distribution of products and services to certain niche segments of the aviation, defense, space, medical, telecommunications and electronics industries through its Hollywood, Florida-based Flight Support Group and its Miami, Florida-based Electronic Technologies Group. HEICO’s customers include a majority of the world’s airlines and overhaul shops, as well as numerous defense and space contractors and military agencies worldwide, in addition to medical, telecommunications and electronics equipment manufacturers. For more information about HEICO, please visit our website at www.heico.com.