Heico acquires firm that locates airline devices

Heico acquires private co. that finds underwater airline locator beacons; terms undisclosed

• On 3:23 pm EDT, Wednesday October 21, 2009

HOLLYWOOD, Fla. (AP) -- Heico Corp., an aerospace and defense business, said Wednesday it has acquired the assets and some liabilities of a private company that finds airline locating devices under water.

The Hollywood, Fla.-based company's electronic technologies group acquired the Seacom division of Dukane Corp.

Terms were not disclosed.

Heico said it expects the acquisition to add to earnings in the year following closing, but did not say when it expects to close on the acquisition. It renamed the business Dukane Seacom Inc. and said the operation will remain in St. Charles, Ill., for the time being.

Dukane Seacom's management will remain with the business, and Heico said it does not expect near-term staff turnover to result from the acquisition. Seacom employs about 35 workers, Heico said.

Seacom is the world's largest designer and manufacturer of underwater locator beacons that are used to find aircraft cockpit voice recorders and flight data recorders, marine ship voyage recorders and other devices submerged under water.

Shares of Heico added 8 cents to $42.83 in afternoon trading.