Loar Holdings to acquire Applied Avionics for $385M cash; expected close by end of 2024

Loar Holdings Inc.

Acquisition price $385M cash; Applied Avionics 2024E sales ~$40M, adjusted EBITDA ~$21M.
Loar expects ~$45M tax benefit, effective purchase multiple ~16x 2024 adjusted EBITDA.
Over 75% of Applied Avionics sales from aftermarket; brands include VIVISUN and NEXSYS.
Financing via existing credit facility and cash on hand; subject to HSR and other closing conditions.
Acquisition expected to close in 2024; Applied Avionics employs 80+ in Fort Worth, TX.

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