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So, they merged the warehousing and technology side of these companies?

When they acquired us, AAXICO, as their fifth acquisition, they realized we were twice as large as all their previous acquisitions combined. We had close to 80 employees and generated about 1.2 million in sales per employee. They kept our warehouse but decided to find a location in the middle of our West Palm Beach and Miami offices for the warehouse and office. I disagreed with this decision, given that we were generating most of the revenue, but when you're acquired, you have to follow the new management's decisions.

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Were you concerned about competition then? What were your worries if you weren't concerned about HEICO?

The only issue that concerned us was the potential for OEMs to shift to certain distributors. For instance, if it's the end of the quarter and the OEM wants us to buy half a million dollars of a product because they need it, and we refuse because there's no demand, they could find someone else in the market willing to pay. That's a possibility, but it was rare. The other concern was airlines buying parts in excess. They could buy at a discount and then compete against us by selling to our customers at a lower price. That could be a problem. We had this situation with a company in Ireland, either Irish Aerospace or Dublin Aerospace. For years, they would buy in large volumes and then sell to the market to recoup some of their investment.

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