HEICO Corporation Announces Important Electronics Acquisition

    MIAMI & ORLANDO, Fla.--April 11, 2001--HEICO Corporation today announced that its Electronic Technologies Group has acquired Analog Modules, Inc. ("AMI"), a leading designer and manufacturer of electronic products primarily for use in the laser and electro-optics industries, for approximately $15.6 million in cash paid at closing.
    AMI's products, which include hybrid Laser Rangefinder Receivers, amplifiers, photodetector-amplifier modules, flashlamp drivers, diode drivers and power supplies, serve military, medical, scientific and industrial markets. AMI, with certain patented products, is believed to be the leading independent producer of Laser Rangefinder Receivers for the U.S. military market.
    HEICO stated that it expects the acquisition to be accretive to its earnings per share.
    Laurans A. Mendelson, HEICO's Chairman, President and Chief Executive Officer, commented, "The AMI acquisition is a perfect fit with our Electronic Technologies Group. It dramatically expands our power supply operations already based in Florida and our electro-optical capabilities and product lines previously produced exclusively at one of our California facilities. In addition, AMI deepens our involvement in the military markets, while substantially broadening our electronics and electro-optical technology bases."
    AMI's founder and President, Ian Crawford, remarked, "AMI's link with HEICO is an important step in our continued growth. We are excited to work with various HEICO subsidiaries to broaden our already-strong market presence and technological know-how. The strong cultural fit between our companies should allow us to work together in accomplishing these goals."