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Radiant future for Moritz Aerospace
Radiant Power Corp. ("Radiant"), a subsidiary of Heico Corporation, has acquired the aerospace assets of Moritz Aerospace, Inc. in an all-cash transaction. Radiant is part of Heico's Electronic Technologies Group.
The Moritz Aerospace product line, which was founded in 1994 and is located in Hatfield, Pennsylvania, designs and manufactures next-generation wireless cabin control systems, solid-state power distribution and management systems, and fuel level sensing systems for business jets and for general aviation, as well as for the military and defence market segments. The Moritz Aerospace product line is currently supported by approximately 20 people.
Anish V. Patel, president of Radiant Power Corp, stated, "We are very excited to bring the Moritz Aerospace technology and customers into our product portfolio. These additions allow Radiant to provide a full suite of power control and cabin electronics solutions to the aerospace market."
Laurans A. Mendelson, Heico's chairman & CCEO, and Victor H. Mendelson, Heico's co-president and CEO of its Electronic Technologies Group, jointly noted, "This acquisition continues Heico's expansion into adjacent markets and products and is another example of Heico providing complete product and service solutions throughout the aircraft life cycle."
Sarasota, Florida-based Radiant Power is a designer and maker of backup power and cabin power management products, having produced more than 100,000 power supplies, inverters, power management systems, seat controllers and lighting-related products for aircraft since its start more than 30 years ago. Radiant's products are found on all models of Boeing aircraft in production, as well as numerous regional jets and business jets.
Heico Corporation is engaged primarily in certain niche segments of the aviation, defence, space, medical, telecommunication and electronic industries through its Hollywood, Florida-based Flight Support Group and its Miami, Florida-based Electronic Technologies Group. Heico's customers include many of the world's airlines and overhaul shops as well as numerous defence and space contractors and military agencies worldwide.
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