HOLLYWOOD, Fla.—Heico Corp.'s Electronic Technologies Group acquired Specialty Silicone Products Inc. in an all-cash transaction.
Details of the sale were not disclosed, but SSP's entire management team will remain with the company in their pre-existing positions and no material staff turnover is expected post-acquisition, according to a Heico news release.
SSP, a designer and manufacturer of silicone materials, will be part of Heico's Electronic Technologies Group. SSP's materials are used in aerospace, defense, research, oil and gas, testing and pharmaceuticals. The company employs about 70 and operates out of a 52,000-sq.-ft. facility in Ballston Spa, N.Y. SSP was founded in 1989.
The acquisition marks Heico's fifth within the past 12 months, the company said.
Heico is a designer, producer, servicer and distributor of products and services to segments of the aviation, defense, space, medical, telecommunications and electronics industries through its Flight Support Group and Electronic Technologies Group.