Business

January 7, 2013

Business Briefs – January 7, 2013

Heilind acquires Interstate Connecting Components

Heilind Electronics, Inc., North America’s largest distributor of electronic interconnect products, announced Jan. 2 the acquisition of Interstate Connecting Components, a New Jersey-based distributor of electronic components for the military and aerospace industries.

“We are very pleased to be welcoming ICC into the Heilind family,” said Robert W. Clapp, president of Heilind Electronics. “ICC has long been a leader in customer service and technical support in the mil-aero industry and will greatly enhance Heilind’s ability to support customers in that marketplace.”

ICC is a privately held company serving electronics OEMs and contract manufacturers in the military and aerospace industries from its Lumberton, New Jersey headquarters and through its network of sales offices in New York, Alabama, New Mexico and California.

Berger Group Holdings acquires Hawthorne Services

Berger Group Holdings, Inc., a global engineering firm with annual revenues of $1 billion headquartered in Morristown, N.J., has acquired Hawthorne Services, Inc. of Charleston, S.C. ó a 350-employee firm specialized in facility services and fueling operations at airfields and military bases.

“The acquisition of Hawthorne Services is part of our strategy to grow our operations and maintenance platform,” said Nicholas Masucci, CEO of the Berger Group. “We continue to enhance our support for government operations and maintenance, transportation, fueling services, airfield operations, facilities services and specialized technical services.”

Hawthorne Services is a leading provider of full lifecycle aircraft fuel services and facilities operations and maintenance services across the southeast United States for the Defense Logistics AgencyóEnergy and the state of South Carolina. This acquisition follows the 2012 Berger Group acquisition of the enterprises that now form Louis Berger Services, Inc. Hawthorne will become the fourth division managed under the Louis Berger Services operating company.

AAR to Repurchase 1.75 percent Convertible Senior Notes

AAR Corp. announced Jan. 3, that pursuant to the terms of the indenture, holders of AAR’s 1.75 percent Convertible Senior Notes due 2026 have the right to surrender their Securities for purchase by AAR.

The Put Option expires Jan. 31, 2013. The purchase is being made on the terms and subject to the conditions set forth in the Put Right Purchase Offer dated Jan. 3, 2013.

The Put Option entitles each holder of the securities to surrender to AAR for purchase all or any part of such holder’s securities at a purchase price equal to 100 percent of the principal amount, plus accrued and unpaid interest.

In accordance with the terms of the securities, holders of record as of Jan. 15, 2013, will receive payment on Feb. 1, 2013, of the regularly scheduled interest payment for interest accrued up to, but not including, the purchase date.




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Navy photograph

USS Roosevelt marks 200,000 trap

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Navy photograph by PO1 William Larned

USS California returns from maiden deployment

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Army photograph

Army proves new watercraft capabilities

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Orbital stockholders approve merger with ATK’s aerospace, defense groups

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