PennEngineering completes acquisition of Heyco Products
Stephen LawElectronics Engineering Supply Chain acquisition
PennEngineering, Danboro PA, has successfully completed the previously announced acquisition of Heyco Products Inc., Toms River NJ. Terms were undisclosed and no changes are anticipated regarding Heyco’s operations, facilities, and employees.
Heyco Products will continue to operate as a separate company under the PennEngineering corporate umbrella as the foundation of the new ‘Engineered Plastics’ platform. The highly regarded Heyco brand will remain unaffected. Bill Jemison, president of Heyco, will continue to lead the company with the existing Heyco management team.
Acquisition is expected to expand opportunities for both companies
The acquisition is expected to expand opportunities for both companies. With strong global presence and existing customer and sales channel relationships, PennEngineering is well positioned to accelerate Heyco’s growth in Europe and Asia. The combined product offerings and global sales and operating platform will provide current and new end-users worldwide with the leading offering of metal and plastic component assembly solutions.
Founded in 1926, Heyco Products designs and manufactures molded wire protection products, plastic fasteners, molded components and stamped electrical components to meet the needs of industrial, medical, appliance, transportation, alternative energy, lighting, and aerospace companies.
Founded in 1942, PennEngineering is the global leader in the development and manufacture of precision fasteners, components and installation systems, specializing in thin sheet attachment solutions.