Early Life
Laurans A. Mendelson, known as Larry, was born in New York City on July 7, 1938. He attended Brooklyn Technical High School, where he developed an interest in engineering, and later attended Columbia College, graduating in 1960. Mendelson furthered his education at Columbia Graduate School of Business, earning an MBA with a focus on Finance and Accounting in 1961.
Rise to Success
After graduating, Mendelson worked for Arthur Andersen & Company for about six years. In 1969, he moved his family to Miami, Florida, with the ambition of starting his own company. Mendelson's significant entry into the aerospace industry began in the mid-1980s when his son, Victor Mendelson, showed interest in HEICO Corporation. The Mendelson family became the largest shareholder, and in 1990, Laurans became the Chairman, President, and CEO of HEICO. Under his leadership, HEICO transformed from a small aviation company into a major international aerospace and electronics company.
Key Business Strategies
Mendelson's strategy involved recognizing and capitalizing on growth opportunities. He focused on organic growth, strategic acquisitions, and a decentralized operating culture. These strategies resulted in significant growth, with compound annual growth rates (CAGR) since 1990 of approximately 17% in sales, 18% in earnings, and 21% in the stock price.
Philanthropy
Laurans and his wife, Arlene, have been actively involved in philanthropy, supporting various organizations in South Florida and beyond. They have contributed to educational institutions, the arts, and health-related causes. The Mendelson family's generosity has been recognized with the United Way Miami's Tocqueville Award for Outstanding Philanthropy in 2022. In 2016, the Mendelson Center for Undergraduate Business Initiatives was established at Columbia University with a $10 million gift from the Mendelson family.
