Loar Holdings, which makes niche aerospace and defense components, raised $308 million by offering 11 million shares at $28, above the range of $24 to $26.
Loar specializes in the design, manufacture, and sale of niche aerospace and defense components for aircraft and aerospace and defense systems. Its products include auto throttles, seatbelts, temperature and fluid sensors and switches, and RAM air components, among others. The company primarily serves three core end markets: commercial, business jet and general aviation, and defense. The White Plains, NY-based company was founded in 2012 and booked $317 million in revenue for the 12 months ended December 31, 2023.
Loar Holdings plans to list on the NYSE under the symbol LOAR. Jefferies, Morgan Stanley, Moelis & Company, Citi, and RBC Capital Markets acted as joint bookrunners on the deal.
