HEICO / Wencor

We discuss the process and structure of our recent analysis on HEICO's acquisition of Wencor. We explore: The structure of the aftermarket value chain Synergies between HEI / Wencor across PMA, MRO, and distribution Advantages of owning MRO and distribution with PMA assets How HEI bargaining power changes post-acquisition Why the alternate bill of materials strategy is an opportunity for HEI