Company: HEI-A
Filing Date: 2025-08-27
Form Type: 10-Q
Source: 0000046619-25-000062
Chunk: 34

Company: HEICO CORP
Filing Date: 2025-08-27
Form: 10-Q
Item: Item 8
Chunk 34
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 SVM Private Limited ("SVM").  SVM designs and manufactures high-performance electronic passive components and subsystems, including critical magnetic components and busbars, that serve the healthcare and industrial end-markets.  The remaining 30% interest continues to be owned by a certain member of SVM's management team.  See Note 3, Selected Financial Statement Information - Redeemable Noncontrolling Interests, for additional information.  The purchase price of this acquisition was paid in cash using cash provided by operating activities and is not material or significant to the Company's condensed consolidated financial statements.In December 2024, the Company, through a subsidiary of HFSC, entered into an exclusive license agreement and acquired certain assets to support the Boeing 777 AIMS (Airplane Information Management System) and Boeing 737NG/P-8/E-7 VIA (Versatile Integrated Avionics) product lines from Honeywell International.  Honeywell's AIMS for the Boeing 777 and VIA for the Boeing 737NG/P-8/E-7 are integrated avionics systems providing cockpit displays, maintenance diagnostics, and flight management functions.  The transaction provides the HFSC subsidiary with the exclusive capability to produce, sell, and repair Boeing 

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777 AIMS and Boeing 737NG/P-8/E-7 VIA hardware systems.  The purchase price of this acquisition was paid in cash using proceeds from the Company's revolving credit facility and cash provided by operating activities, and is not material or significant to the Company's condensed consolidated financial statements.In January 2025, the Company, through a subsidiary of HFSC, acquired 90% of the membership interests of Millennium International, LLC ("Millennium").  Millennium is an FAA and EASA-certified Part 145 Repair Station, specializing in the repair and support of new generation and legacy avionics systems and components.  Millennium offers comprehensive repair, overhaul, retrofit, and exchange services to its customers that include aircraft OEMs, fleet operators, repair businesses, and avionics brokers.  The remaining 10% interest continues to be owned by certain members of Millennium’s management team.  See Note 3, Selected Financial Statement Information - Redeemable Noncontrolling Interests, for additional information.  The total consideration includes an accrual of $11.5 million as of the acquisition date representing the estimated fair value of contingent consideration the Company may be obligated to pay should Millennium meet a certain earnings objective following the acquisition.  See Note 8, Fair Value Measurements, for additional