On May 15, Heico Corporation — a designer, producer, servicer and distributor of products to the aviation, defense, space, medical, telecommunications and electronics industries — announced it will acquire Wencor Group from affiliates of Warburg Pincus LLC and Wencor’s management. The stated purchase price is $1.9 billion in cash and $150 million in Heico Class A Common Stock to be paid at closing, or $2.05 billion in the aggregate.

The deal is Heico’s largest ever in purchase price, as well as revenues and income acquired. Wencor now will become part of Heico’s Flight Support Group, according to a news release.

Wencor is a commercial and military aircraft aftermarket company that offers FAA-approved aircraft replacement parts, value-added distribution of high-use commercial & military aftermarket parts, and aircraft & engine accessory component repair and overhaul services.

Heico says it expects the acquisition to be accretive to its earnings within the year after closing. Heico also anticipates it will continue to achieve its often-articulated growth objectives following the close of the deal.

“Our Flight Support Group has for decades provided high-quality and reliable cost-saving products and services to the commercial aircraft and defense aftermarkets,” said Laurans A. Mendelson, Heico’s Chairman and Chief Executive Officer, along with Eric A. Mendelson, Heico’s Co-President and Chief Executive Officer of its Flight Support Group. “The Wencor acquisition materially expands Heico’s aftermarket product offerings, enabling the combined company to offer even greater savings and capabilities to its customers, while expanding our new products and services development capacity. Wencor is a perfect and highly complementary fit with Heico. Importantly, we look forward to welcoming Wencor’s Team Members to the Heico family and to working with Wencor’s talented leadership team led by Shawn Trogdon, who will continue to lead the business.”

Read more about the acquisition here.