HEICO Acquires 90% of RF Antenna Maker, Sees Earnings Accretive Within Year
HEICO’s Electronic Technologies Group acquired a 90% stake in Southwest Antennas for cash, with CEO Ben Culver retaining 10% ownership and HEICO expecting earnings accretion within a year. Southwest Antennas’ Poway facility spans 25,000 sq ft and employs over 110 professionals designing RF and microwave antennas up to 8.5 GHz.
1. Acquisition Terms
HEICO’s Electronic Technologies Group has purchased a 90% interest in Southwest Antennas, with the remaining 10% retained by SWA CEO Ben Culver. HEICO expects the transaction to be accretive to its adjusted earnings within 12 months of closing.
2. SWA Operations and Capabilities
Founded in 2005 and headquartered in Poway, CA, Southwest Antennas operates a 25,000 sq ft facility staffed by over 110 professionals. The company designs rugged RF and microwave antennas operating up to 8.5 GHz for defense, law enforcement and contested combat applications, and offers accessories such as mounting solutions, downconverters, low noise amplifiers and filter modules.
3. Strategic Rationale
HEICO aims to bolster its antenna market presence by integrating SWA’s mission-critical product portfolio and preserving leadership under CEO Ben Culver. Management anticipates minimal turnover and operational continuity, enhancing revenue diversification and driving long-term growth in defense and law enforcement segments.