XLCS Partners advises Sherwood Aviation on sale to HEICO Corporation

Aerospace and defense MRO provider Sherwood Aviation acquired by HEICO

Apr. 13, 2026 at 2:58pm

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A photorealistic studio still-life photograph of a polished metal aircraft component, such as an auxiliary power unit or landing gear system, arranged elegantly on a clean, monochromatic background, conceptually representing the technical excellence and mission-critical nature of Sherwood Aviation's maintenance, repair, and overhaul services.A premium aircraft component from Sherwood Aviation's MRO capabilities, now backed by the resources and expertise of HEICO Corporation.Today in Miami

XLCS Partners, a leading middle market investment bank, has announced that it served as the exclusive M&A advisor to Sherwood Avionics and Accessories, Inc. ("Sherwood Aviation") on its acquisition by HEICO Corporation through its Flight Support Group. Sherwood Aviation is an FAA and EASA Part 145 repair station specializing in the maintenance, repair, and overhaul (MRO) of complex, mission-critical mechanical and electro-mechanical components for defense and select commercial aviation platforms.

Why it matters

The acquisition of Sherwood Aviation by HEICO, a major player in the aerospace and defense industry, highlights the continued consolidation and growth in the MRO sector as companies seek to expand their capabilities and customer base. This transaction showcases XLCS Partners' expertise in advising aerospace and defense businesses on strategic transactions.

The details

Under the terms of the transaction, HEICO acquired 80% of Sherwood Aviation, with the balance of ownership continuing to be held by members of Sherwood Aviation's management team. Sherwood Aviation has a decades-long reputation for technical excellence and customer service, and has earned the trust of OEMs, government agencies, and operators around the world.

  • The transaction was completed on April 6, 2026.

The players

XLCS Partners, Inc.

A leading middle market investment bank that served as the exclusive M&A advisor to Sherwood Aviation on this transaction.

Sherwood Avionics and Accessories, Inc.

An FAA and EASA Part 145 repair station specializing in the maintenance, repair, and overhaul (MRO) of complex, mission-critical mechanical and electro-mechanical components for defense and select commercial aviation platforms.

HEICO Corporation

A major player in the aerospace and defense industry that acquired 80% of Sherwood Aviation through its Flight Support Group.

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What they’re saying

“This is a tremendous outcome for Sherwood Aviation, our team, and our customers. HEICO is the ideal partner to support our next chapter of growth and OEM alliance while preserving everything we have built since 1992. The XLCS team was with us every step of the way, and we would recommend them without hesitation to any business owner considering a transaction.”

— Bryan Farrell, CEO of Sherwood Aviation

“This transaction is a testament to what Sherwood Aviation has built over more than three decades. Sherwood is exactly the kind of mission-critical, defense-focused MRO platform that the market's most sophisticated buyers recognize and pursue. We are proud and honored to have advised them on this milestone transaction and are thrilled with the outcome for the entire team.”

— Joe Contaldo, Partner and head of XLCS Aerospace & Defense

The takeaway

The acquisition of Sherwood Aviation by HEICO Corporation demonstrates the continued consolidation and growth in the aerospace and defense MRO sector, as companies seek to expand their capabilities and customer base. This transaction highlights XLCS Partners' expertise in advising aerospace and defense businesses on strategic transactions.