Loar Holdings Inc. completes acquisition of Applied Avionics, Inc.

Loar Holdings Inc., today announced that it has completed the previously announced acquisition of Applied Avionics, Inc. for approximately $385 million in cash.

Applied Avionics designs, develops, and manufactures highly engineered interface solutions for avionics and other aerospace and defense electronics. Applied Avionics' brands, VIVISUN and NEXSYS, are the preferred choices of leading aircraft retrofit providers, military prime contractors, Tier 1 suppliers, and OEMs, among others, reflecting Applied Avionics' passion for exceptional customer service, world-class quality and reputation as an innovative solutions provider. Applied Avionics maintains headquarters and manufacturing operations at its facility in Fort Worth, Texas.

As previously announced, Loar expects that Applied Avionics' net sales and Adjusted EBITDA for the year ending December 31, 2024, will be approximately $40 million and $21 million, respectively. Loar also expects to receive tax benefits of approximately $45 million as a result of the transaction. Following the acquisition's completion, Loar projects its net-debt-to-EBITDA ratio to be less than 4.0x.