IRVINE, Calif.–(BUSINESS THREAD)–DA Davidson & Co. announced today that it served as financial advisor to Sensor Systems, Inc. in its sale to HEICO Electronic Technologies Group, a division of HEICO Corporation (NYSE:HEI and NYSE:HEI.A). Sensor Systems, based in Chatsworth, California, is one of the world’s leading designers and manufacturers of airborne antennas for commercial and military applications. Recognized as the international standard for many of its antennas, Sensor Systems products include, but are not limited to, Aircraft Direction Finder (ADF), Altimeter, Elevation, Global Positioning System (GPS), Band L, marker beacon, satellite communications, total collision. avoidance system (TCAS), very high frequency (VHF) and very high frequency omnidirectional range (VOR) antennas. Sensor Systems antennas are found on nearly every large commercial transport aircraft built in the last 50 years, along with numerous commercial and military aircraft.
Sensor Systems was created over a period of more than 50 years by the husband and wife team of Seymour (Si) Robin and Mary (Betty) Bazar. Known throughout the aviation field as innovators and pioneers, Si and Betty led Sensor Systems in the development and supply of hundreds of thousands of antennas on dozens of aircraft types and numerous defense applications. They were the protagonists of many trade shows and industry meetings where they helped aviation pioneers and more established companies to perfect their products.
“Selling Sensor Systems was a difficult decision, but we felt it was the right course to ensure the vitality of the company. Betty, our family, and I wanted to know that Sensor Systems would have an excellent home that would continue the its operations and growth in the same location and under the same name that made Sensor Systems the major industry player it is today. We also wanted to be sure that our people would be respected and valued. Our family met the Mendelson family and HEICO for many years and we felt it was the only company that would operate the business the way we wanted,” commented Si Robin, CEO and Executive Vice President of Sensor Systems.
Laurans A. Mendelson, HEICO’s President and CEO, along with Victor H. Mendelson, HEICO’s Co-President and CEO of its Electronics Technologies Group, commented, “Si and Betty became good friends and special, so we are committed to building on the remarkable legacy they created over half a century. From the first time we met, it was clear that we all value innovation and quality, love our industry, love our country, and care deeply about every person in our companies. Sensor Systems and HEICO are a great match and we welcome everyone on the Sensor Systems team 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 worldwide,” said Paul Weisbrich, CEO of the Aerospace and Defense practice in DA Davidson’s diversified industrial investment banking group.
About DA Davidson Companies
DA Davidson Companies is an employee-owned financial services company that provides a range of financial services and advice to individuals, corporations, institutions and municipalities across the country. Founded in 1935 with corporate headquarters in Great Falls, Montana, and regional offices in Denver, Los Angeles, New York, Omaha and Seattle, the company has approximately 1,525 employees and offices in 27 states.
Subsidiaries include: DA Davidson & Co., a full-service investment firm offering wealth management, investment banking, equity and fixed income capital markets services and advisory; Davidson Investment Advisors, a professional asset management firm; DA Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment advisor offering fixed income portfolio and advisory services.
For more information, visit dadavidson.com.
About the investment banking division of DA Davidson
Investment Banking Division of DA Davidson is a leading full-service investment bank offering comprehensive financial advice and capital markets expertise. The group has extensive transactional 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, DA Davidson originates and executes transatlantic M&A transactions under the common brand of DA Davidson MCF International.