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Loar Holdings Inc. (LOAR) has issued an update.
Loar Holdings Inc. and its subsidiary, Loar Group, recently amended their credit agreement to secure a $360 million incremental term loan, used primarily for the acquisition of Applied Avionics, Inc. (AAI). The purchase, valued at $384.5 million, was completed on August 26, 2024, with financing from the new loan and cash on hand. This strategic move, backed by lenders including affiliates of Blackstone Alternative Credit Advisors LP, expands Loar Group’s portfolio in the avionics interface solutions industry.
For detailed information about LOAR stock, go to TipRanks’ Stock Analysis page.
