Warburg Pincus to Sell Wencor Group to Heico

May 15, 2023

Cleary Gottlieb is representing Warburg Pincus LLC (Warburg Pincus) in the sale of Wencor Group LLC (Wencor Group) from affiliates of Warburg Pincus and Wencor Group’s management to Heico Corporation (HEICO) for $2.05 billion, comprised of $1.90 billion in cash and $150 million in HEICO Class A common stock to be paid at closing.

The acquisition signed on May 15, 2023, and is expected to close by the end of calendar 2023, subject to customary conditions, including, among others, antitrust clearance.

Cleary previously represented Warburg Pincus in its acquisition of Wencor Group in 2014 and in numerous other projects related to Wencor Group including its recent acquisition of Aero-Glen.

Founded in 1955, Wencor Group is a large commercial and military aircraft aftermarket company offering factory-new FAA-approved aircraft replacement parts, value-added distribution of high-use commercial & military aftermarket parts, and aircraft & engine accessory component repair and overhaul services. Wencor Group is a portfolio leading designer, repair provider, and distributor of aftermarket aerospace components. Wencor Group has been a trusted partner in aerospace for over 60 years, offering PMA design and development, CMM and DER repairs, and an extensive network of distribution solutions for commercial and defense markets.

HEICO is a rapidly growing aerospace and electronics company focused on niche markets and cost-saving solutions for its customers. HEICO is engaged primarily in the design, production, servicing, and distribution of products and services to certain niche segments of the aviation, defense, space, medical, telecommunications, and electronics industries through its Hollywood, Florida-based Flight Support Group and its Miami, Florida-based Electronic Technologies Group.