HEICO increased its revolving credit facility to $1 billion, which is a $200 million, or 25%, increase to the facility’s previous, $800 million limit. This facility’s term expires in December 2018 and there are no maturities under the facility until then.

The facility is lead-managed by SunTrust, Bank of America and Wells Fargo. The $200 million increase resulted from the exercise of the facility’s accordion feature, which was subject to the consent of HEICO’s lenders.

HEICO has used the facility, which is available for general corporate purposes, principally to make acquisitions. Since 1996, the company has completed approximately 60 acquisitions and remains committed to disciplined capital allocation. The company expects to soon close its previously announced pending acquisition of Air Cost Control. Further, the company continues to review numerous acquisition candidates and to seek additional acquisitions.

Laurans A. Mendelson, HEICO’s chairman and CEO, along with Co-Presidents Eric A. Mendelson and Victor H. Mendelson remarked, “We are pleased to expand our credit facility capacity to $1 billion and to have such strong support and confidence from our lenders. HEICO’s financial strength, coupled with our expanded funding capacity, should allow us to continue executing our strategic goals.”

Miami and Hollywood, FL-based HEICO 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.