Loar Holdings, which makes niche aerospace and defense components, announced terms for its IPO on Wednesday.
The White Plains, NY-based company plans to raise $275 million by offering 11 million shares at a price range of $24 to $26. At the midpoint of the proposed range, Loar Holdings would command a market cap of $2.2 billion.
Loar specializes in the design, manufacture, and sale of niche aerospace and defense components for aircraft and aerospace and defense systems. Its products span a diverse range of applications supporting nearly every major aircraft platform in use today and include auto throttles, 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, which it states it has long historical track records of consistent growth.
The White Plains, NY-based company was founded in 2012 and booked $317 million in revenue for the 12 months ended December 31, 2023. It plans to list on the NYSE under the symbol LOAR. Jefferies, Morgan Stanley, Moelis & Company, Citi, and RBC Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of April 22, 2024.
