PennEngineering diversifies into engineered plastic fasteners with Heyco acquisition

PennEngineering (Danboro, PA) announced today that it has entered into an agreement to acquire Heyco Products Inc. (Toms River, NJ). Terms of the agreement were not disclosed 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. Heyco President Bill Jemison will continue to lead the company with the existing Heyco management team, according to a press release announcing the acquisition. 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 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. With a well-known brand name, Heyco also brings with it a modern, globally certified, U.S.-based manufacturing facility with vast expertise in injection molding, progressive stamping, over molding and assembly processes and techniques.
 
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. Its brands include PEM, microPEM, PEMSERTER, PROFIL, PennAuto and Atlas, and the  company serves diverse industries across the world, including electronics, telecom, medical, automotive, aerospace/aircraft and general manufacturing. The company operates manufacturing facilities and key sales offices in North America, Europe and Asia and is supported by a worldwide network of authorized engineering representatives and distributors.