Squire Patton Boggs has advised Loar Holdings Inc. (NYSE: LOAR) on its entry into a put option to acquire 100% of the shares of LMB Fans & Motors for €365 million plus the assumption of net debt, payable in cash at closing. The put option grants Loar a period of exclusivity to sign, subject to completion of the consultation with LMB’s social and economic committee, definitive documents. The transaction is expected to close in the third quarter, after requisite regulatory approvals.
The Squire Patton Boggs team advising Loar was led by Corporate partner Tony Reed in Paris, supported by Corporate of counsel Dan Hassett. A team from Fried Frank in London were lead regulatory counsel to Loar.
Loar Holdings Inc. is a diversified manufacturer and supplier of niche aerospace and defense components that are essential for today's aircraft and aerospace and defense systems. Loar has established relationships across leading aerospace and defense original equipment manufacturers and Tier Ones worldwide.
LMB Fans & Motors is a global specialty player in the design and production of customized high-performance fans and motors. LMB’s fans and brushless motors are found on a multitude of aerospace and defense platforms. The company is headquartered at its manufacturing facility in Malemort sur Corrèze, France.
"We are delighted to support Loar on this important strategic acquisition in France,” commented Tony Reed.