05:34 PM EDT, 08/26/2024 (MT Newswires) -- Loar Holdings ( LOAR ) said late Monday that it completed the acquisition of Applied Avionics for about $385 million in cash.

The company expects Applied Avionics' net sales and adjusted earnings before interest, tax, depreciation, and amortization for the year ending Dec. 31 will be about $40 million and $21 million, respectively.

Loar ( LOAR ) also expects to receive tax benefits of about $45 million and forecasts its net debt-to-EBITDA ratio to be less than 4.0x after the acquisition.

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