
Heico’s Flight Support Group has acquired 90% of the stock of business jet MRO provider Millennium International for an undisclosed sum.
Heico’s Flight Support Group has acquired 90% of the stock of business jet MRO provider Millennium International for an undisclosed amount, Heico said. The co-founders of Millennium will continue to hold a 10% share of the company.
Millennium specializes in the repair and support of both next-generation and legacy business jet avionics systems and components. Its customers include aircraft OEMs, fleet operators, repair businesses, and avionics brokers. The company has a wide range of capabilities that span avionics displays, navigation and radio equipment, weather radars and collision avoidance systems.
“The addition of Millennium to Heico’s family of businesses marks a significant milestone in our strategic expansion into the business jet market,” Heico CEO Laurans A. Mendelson and Co-President Eric Mendelson said in a Feb. 3 news release.
Jeanne Rau-Flattery and Dan Rafferty, co-founders of Millennium, said in the news release that the tie-up “presents a tremendous opportunity for our company to drive innovation and broaden the scope of our capabilities.”
The deal is expected to be accretive in the year after closing, while Millennium’s 40 employees imply $15 million of annual sales, investment bank Jefferies said in a Feb. 3 client note. Jefferies noted that the acquisition of Millennium marks Heico’s seventh deal since January 2024 and second acquisition so far in 2025.
For their part, investors seem to be happy with Heico’s steady stream of acquisitions. Heico’s shares appreciated 55% in the 2024 financial year “on a record M&A contribution year,” Jefferies said.