D.A. Davidson & Co. announced today that it served as financial adviser to Sensor Systems, Inc. on its sale to HEICO Electronic Technologies Group, a division of the HEICO Corporation (NYSE:HEI and NYSE:HEI.A). Chatsworth, Calif.-based Sensor Systems is one of the world’s leading designers and manufacturers of airborne antennas for commercial and military applications. Recognized as an international standard for many of its antennas, Sensor Systems’ products include, among others, aircraft direction finding (ADF), altimeter, glideslope, global positioning system (GPS), L-band, marker beacon, satellite communications, total collision avoidance system (TCAS), very high frequency (VHF) and very high frequency omni-directional range (VOR) antennas. Sensor Systems’ antennas are found on nearly all large commercial transport aircraft built in the past 50 years, along with numerous business and military aircraft.
Sensor Systems was built-up over a more than 50-year period by the husband and wife team of Seymour (Si) Robin and Mary (Betty) Bazar. Known throughout the aviation field as both innovators and pioneers, Si and Betty led Sensor Systems in developing and providing hundreds of thousands of antennas on dozens of aircraft types and numerous defense applications. They were fixtures at many industry trade shows and meetings where they helped aircraft pioneers and more established firms perfect their products.
“Selling Sensor Systems was a difficult decision, but we felt it was the right course of action to ensure the company’s vitality. Betty, our family and I wanted to know that Sensor Systems would have an excellent home that would continue its operations and growth in the same location and under the same name that we grew Sensor Systems into the major industry participant it is today. We also wanted to be sure that our people would be respected and valued. Our family came to know the Mendelson family and HEICO over many years and we felt it is the only company that would operate the business as we would like,” commented Si Robin, Chief Executive Officer and Executive Vice President of Sensor Systems.
Laurans A. Mendelson, HEICO’s Chairman and CEO, along with Victor H. Mendelson, HEICO’s Co-President and CEO of its Electronic Technologies Group, remarked: “Si and Betty became special and good friends, so we are committed to building on the remarkable legacy they created over more than half of a century. From the very first time we met, it was clear that we all value innovation and quality, we love our industry, we love our country, and we care deeply for every person at our companies. Sensor Systems and HEICO are an excellent match and we welcome every Sensor Systems team member to the HEICO family.”
“It has been a privilege to advise Sensor Systems on its sale to HEICO. Sensor Systems’ products are a critical element that ensures the safe and efficient operation of aircraft around the world,” said Paul Weisbrich, Managing Director in the Aerospace & Defense practice at D.A. Davidson’s Diversified Industrials Investment Banking Group.
About D.A. Davidson Companies
D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions and municipalities nationwide. Founded in 1935 with corporate headquarters in Great Falls, Montana, and regional headquarters in Denver, Los Angeles, New York, Omaha and Seattle, the company has approximately 1,525 employees and offices in 27 states.
Subsidiaries include: D.A. Davidson & Co., a full-service investment firm providing wealth management, investment banking, equity and fixed income capital markets services, and advice; Davidson Investment Advisors, a professional asset management firm; D.A. Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment adviser providing fixed income portfolio and advisory services.
For more information, visit dadavidson.com.
About D.A. Davidson’s Investment Banking Division
D.A. Davidson’s Investment Banking Division is a leading full-service investment bank that offers comprehensive financial advisory and capital markets expertise. The group has extensive transaction experience serving middle-market clients worldwide across four industry verticals: consumer, diversified industrials, financial institutions, and technology. Together with its European strategic partner, MCF Corporate Finance, D.A. Davidson originates and executes transatlantic M&A transactions under the common brand of D.A. Davidson MCF International.
Deal Team Contacts
Paul Weisbrich, Managing Director | Irvine | [email protected]
Bobby Micsak, Vice President | Denver | [email protected]
Media Contact
Andreea Popa, Head of Equity Capital Markets Marketing | [email protected]