Hollywood, Florida-based aerospace parts maker Heico Corp. (NYSE: HEI) is acquiring a majority stake in Aerospace & Commercial Technologies for undisclosed terms. ACT’s management will retain an approximate 20 percent stake in the target.

Fort Worth, Texas-based ACT, founded in 2002, makes parts such as wing flaps and speed brakes for the more than 3,000 F-16 fighter jets that are registered worldwide. ACT will become part Heico’s Blue Aerospace subsidiary, but will continue to operate independently.

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