(Reuters) -Aerospace provider HEICO (NYSE:) Corp mentioned on Monday it might purchase Wencor Group in a deal valued at $2.05 billion, to spice up its portfolio of generic components.

HEICO shares hit a file excessive of about 6% at $176.41 in early commerce.

HEICO will buy Wencor from associates of Warburg Pincus LLC and Wencor’s administration for $1.9 billion in money and $150 million in HEICO Class A standard inventory, the corporate mentioned.

The deal shall be HEICO’s largest ever and comes at a time when airways and plane restore outlets in North America more and more depend on used and generic components to maintain jets flying, as rising prices and ongoing supply-chain shortages disrupt the aerospace trade.

“The Wencor acquisition materially expands HEICO’s aftermarket product choices,” HEICO CEO Laurans Mendelson mentioned in a press release.

The assertion added that the transaction is anticipated to shut by the tip of the 2023 calendar 12 months.

Wencor’s components and repairs are present in hydraulic, pneumatic, digital and electro-mechanical cockpit and galley programs throughout quite a few plane fashions.