PennEngineering® to buy Heyco® Products Inc
09 November 2016
PennEngineering® has agreed to acquire Heyco® Products Inc on undisclosed terms. No changes are anticipated regarding Heyco’s operations, facilities, and employees. The acquisition is expected to expand sales growth opportunities for both companies.
Heyco® Products will continue to operate as a separate company under the PennEngineering® corporate umbrella and its highly regarded brand will remain
unaffected. Bill Jemison, president of Heyco, will continue to lead the company with the existing Heyco management team. He will report to Mark
Petty, CEO of PennEngineering.
“PennEngineering and Heyco share a common culture of solid brand recognition and quality engineered products, with a strong R&D and customer service
focus,” said Petty. “This will allow for a seamless transition. The acquisition will diversify the PennEngineering product portfolio by expanding
into engineered plastic fasteners, components and wire protection products. Additionally, Heyco will benefit from the wide range of resources that
PennEngineering can provide.”
Founded in 1926, Heyco Products designs and manufactures moulded wire protection products, plastic fasteners, moulded components and stamped electrical
components to meet the needs of industrial, medical, appliance, transportation, alternative energy, lighting, and aerospace companies. With a well
known brand name, Heyco also brings with it a modern, globally certified, US-based manufacturing facility with vast expertise in injection moulding,
progressive stamping, over moulding, and assembly processes and techniques.
Founded in 1942, PennEngineering is a global leader in the development and manufacture of precision fasteners, components and installation systems,
specialising in thin sheet attachment solutions. The company operates fastener manufacturing facilities and key sales offices in North America,
Europe, and Asia, and is supported by a worldwide network of authorised engineering representatives and distributors.
