Loar Holdings Inc. (LOAR): M&A transaction — Loar Holdings completes $384.5M acquisition of Applied Avionics; expects $40M revenue, $21M adj. EBITDA

Loar Holdings Inc.

Paid aggregate cash consideration of $384.5M ($2M escrowed) for all equity of Applied Avionics, closing Aug 26, 2024.
Acquisition financed through $360M incremental term loan and cash on hand; net-debt-to-EBITDA projected below 4.0x.
Applied Avionics (VIVISUN, NEXSYS brands) designs avionics interface solutions; 2024E net sales ~$40M, adj. EBITDA ~$21M.
Loar expects approximately $45M in tax benefits from the transaction.

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Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Loar Holdings Inc. completed an acquisition involving AAI Holdings, Inc. for $384.5 million (closed 2024-08-26).

Action: acquisition
Counterparty: AAI Holdings, Inc.
Consideration: $384.5 million
Closing: 2024-08-26

Exact text from the filing

On August 26, 2024, upon the terms and subject to the conditions set forth in the Purchase Agreement, Loar Group completed its acquisition of AAI from AAI Parent. The aggregate cash consideration paid to AAI Parent was $384.5 million, $2 million of which was deposited with an escrow agent to be held pending finalization of customary purchase price adjustments contained in the Purchase Agreement.

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Loar Holdings Inc. filing history →

Source: SEC EDGAR

accession 0000950170-24-100566

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