WHITE PLAINS, NY / ACCESSWIRE / August 26, 2024 / Loar Holdings Inc. (NYSE:LOAR) ("Loar," "we" and "our"), today announced that it has completed the previously announced acquisition of Applied Avionics, Inc. ("Applied Avionics") 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.

About Loar Holdings Inc.

Loar Holdings Inc. is a diversified manufacturer and supplier of niche aerospace and defense components that are essential for today's aircraft and aerospace and defense systems. Loar has established relationships across leading aerospace and defense original equipment manufacturers and Tier Ones worldwide.

Forward Looking Statements

This press release includes express or implied forward-looking statements. Forward-looking statements include all statements that are not historical facts including those that reflect our current views with respect to, among other things, Loar's ability to timely close on the acquisition of Applied Avionics, Loar's ability to finance such acquisition and the expected financial performance of Applied Avionics. The words "anticipate," "assume," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "future," "will," "seek," "foreseeable," the negative version of these words or similar terms and phrases may identify forward-looking statements in this press release, but the absence of these words does not mean that a statement is not forward-looking.