HEICO Corporation acquires majority stake in Cook Defence Systems

Under the deal, completed on Tuesday 2 June, Cook Defence Systems, William Cook Stanhope and William Cook Intermodal have been acquired by a new company, HEICO-Cook Defence.

HEICO-Cook Defence is owned 80% by HEICO and 20% by William Cook Holdings. William Cook will continue to lead the company as Managing Director.

Cook Defence Systems and its sister companies will continue to operate from their purpose-built facility in Stanhope, County Durham, with its workforce of approximately 130. Contracts with employees, customers and suppliers remain unaffected.

Cook Defence Systems is a leading independent designer and manufacturer of track systems for armoured fighting vehicles, created in its current form in 1994 by Sir Andrew Cook CBE. The Company is a key partner to leading global armoured vehicle manufacturers and a long-standing supplier to national ministries of defence, supporting both new vehicle production and long-term aftermarket replacement demand.

HEICO, listed on the New York Stock Exchange, is engaged primarily in the design, production, servicing and distribution of products and services to certain niche segments of the aviation, defense, space, medical, telecommunications and electronics industries.

William Cook and Sir Andrew Cook CBE jointly commented, “We are proud to have built Cook Defence Systems into a trusted partner to governments, armies and armoured vehicle manufacturers worldwide. In HEICO, we have found a long-term partner that values our independence, supports our growth ambitions, and shares our commitment to engineering excellence, quality, and service. We are confident about the future of Cook Defence Systems under the joint ownership of HEICO and William Cook Holdings.”

Eric A. Mendelson and Victor H. Mendelson, HEICO’s Co-Chairmen and Co-Chief Executive Officers, jointly commented: “Cook Defence Systems represents a distinctive addition to HEICO, with many of the attractive attributes we look for in our businesses. The Company has established strong relationships across leading defense OEMs and government customers across multiple critical armored vehicle platforms. Cook’s proprietary technology, consistent aftermarket demand, and exposure to increasing global defense spending position it well for continued growth and long-term value creation. We are pleased to welcome William Cook and his team to the HEICO family.”

William Cook Rail, William Cook Cast Products and their subsidiaries and associates remain wholly owned by William Cook Holdings, of which Sir Andrew Cook CBE remains Chairman and William Cook and Chris Seymour continue as directors.