HEICO, a global aerospace business, completed the acquisition of Exxelia, a manufacturer of complex passive components and precision subsystems, from IK Partners, a private equity firm, for €453m. "We are excited to embark on a new stage of development with HEICO. We really appreciate the values of the Mendelson Family, which match perfectly those of Exxelia. Our goal to develop Exxelia into a world leader in Hi-Rel passive components and sub-systems for harsh environments, serving the aeronautic, defense, space and medical markets will be accelerated under the HEICO umbrella. Together we will strengthen our innovation and operational capabilities and accelerate our internationalisation strategy. We thank IK for their support over the past years, which has enabled us to establish a solid platform to support our ambitions for global growth," Paul Maisonnier, Exxelia CEO.