PennEngineering (Danboro, PA) has entered into an agreement to acquire Heyco Products (Toms River, NJ). Both companies made it official today, but terms of the agreement were undisclosed and no changes are anticipated regarding Heyco’s operations, facilities, and employees.
The acquisition is expected to expand sales growth opportunities for both companies.
Heyco will continue to operate as a separate company under the PennEngineering corporate umbrella, and the Heyco brand will remain unaffected, according to a press release.
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.
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.
Heyco also has a modern, globally certified, U.S.-based manufacturing facility with expertise in injection molding, progressive stamping, over molding, and assembly processes and techniques.
PennEngineering, founded in 1942, develops and manufactures precision fasteners, components and installation systems, specializing in thin sheet attachment solutions.
The company provides design and product solutions worldwide for diverse industries, including electronics, computer, data/telecom, medical, automotive, aerospace/aircraft, and general manufacturing.
The company operates fastener manufacturing facilities and sales offices in North America, Europe, and Asia and is supported by a worldwide network of authorized engineering representatives and distributors.
Further information about both companies can be found at www.pemnet.com and www.heyco.com.
