HEICO Corporation announced that its Electronic Technologies Group acquired approximately 93% of the stock of Apex Microtechnology, Inc. in an all cash transaction. Members of Apex's management own the balance of the firm.
HEICO stated that it expects the acquisition to be accretive to its earnings in the year following the purchase. Further financial terms and details were not disclosed.
Tucson, AZ-based Apex is the leading designer and manufacturer of precision power analog monolithic, hybrid and open frame components for a certain wide range of aerospace, defense, industrial, measurement, medical and test applications. Among Apex's most recognized products are high-end Power Operational Amplifiers, PWM Amplifiers and Voltage References.
An example of Apex Microtechnology's market focus is the SA110 (pictured at the top of this article), the company's latest product introduction, and the company's first high-current, high-voltage half H-bridge to utilize SiC MOSFETs with integrated gate drive. SiC MOSFETs provide reduced switching losses, lower conduction losses, and a low dependency of RDS(on) over temperature.
The SA110 features integrated gate drive control, a very high 400kHz maximum switching frequency, and 28A of continuous output current in the A grade variant. This hybrid is offered in a 12-pin PSIP package to provide a compact footprint along with protection features.
With integration of the gate drive, switching speeds are greatly improved as parasitic impacts are reduced and easier to control. SA110 is designed for applications where focus is on over temperature performance, high efficiency, and compact design.
Founded in 1980, Apex employs nearly 100 people at its state-of-the-art Tucson headquarters, engineering and production facility, as well as at international sales locations. Apex is known as a leader for consistently developing products that lead the industry in terms of performance, quality, and reliability.
Apex's entire management team will remain with the company in their pre-acquisition positions and no material staff turnover is expected. Apex will continue to operate in its current locations and will be led by its long-time CEO and shareholder, Greg Brennan, who remains a shareholder.
Laurans A. Mendelson, HEICO's Chairman and Chief Executive Officer, along with Victor H. Mendelson, HEICO's Co-President and CEO of HEICO's Electronic Technologies Group, remarked, "Apex continues HEICO's practice of buying the best-in-class, niche electronic components companies which are known for having excellent talent serving a demanding customer base. From the moment we met the Apex team, we were impressed by the operation they built and their commitment to quality. We welcome everyone at Apex to the HEICO family."
Greg Brennan, Apex's long-time CEO and part-owner, commented, "We wanted the right long-term partner for Apex and its people. That partner had to be someone who not only understood our business, our customers and our people, but also one that had the same commitment to constant product development and quality. We found HEICO as a terrific partner and we are excited to have come together."