Simpson Thacher represented certain selling stockholders affiliated with Blackstone in connection with a secondary offering of shares of common stock of Loar Holdings Inc. (“Loar”). The upsized offering of 5,750,000, including 1,897,500 shares offered by certain Blackstone and other stockholders and 3,852,500 shares offered by Loar, raised nearly $490 million in gross proceeds before underwriting discounts and offering expenses. The selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 862,500 shares of common stock at the public offering price, less underwriting discounts and commissions.
Loar designs, manufactures and sells a variety of essential components for aircraft, aerospace and defense systems. Loar’s diverse products include auto throttles, water purification systems, temperature and fluid sensors, and fire barriers. Its products are found in three key industry areas: commercial aerospace, business jet and general aviation, and defense.
The Simpson Thacher team included Will Golden and Aarthy Thamodaran (Capital Markets – DC); Kenneth Burdon, Jonathan Gaines and Jooyoon Chang (Registered Funds); and James Rapp and Bettina Elstroth (Public Company Advisory Practice).