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HEICO acquires an EMI/RFI filter company

|About: HEICO Corporation (HEI)|By: , SA News Editor

HEICO(HEI -0.3%) announced that its Electronic Technologies Group acquired 80.1% stake in Quell Corporation, for an undisclosed consideration

HEICO expects the acquisition to be accretive to its earnings within the first year following the closing.

Quell designs and manufactures EMI/RFI and transient protection solutions, and employs ~55 people.

Kevin Foreman will continue to lead Quell’s management with Scott Lindberg, sales & marketing chief.

Mr. Foreman and Mr. Lindberg will also together continue to be significant Quell owners, holding 19.9% of the company after the closing.

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