Loar Group has entered into a definitive agreement for the purchase of Schroth Safety Products. Loar says the transaction has already received the required regulatory approvals and is scheduled to close before the end of July.
US-based Loar Group is a diversified manufacturer and supplier of aerospace and defence components, with relationships across aerospace and defence OEMs and Tier One customers worldwide. Schroth is a Germany-based designer and manufacturer of occupant safety systems such as seatbelts and airbags for the global aerospace, defence, and high-performance consumer industries. Approximately 90% of Schroth’s sales are products which have customised designs containing proprietary intellectual property.
“Schroth brings a portfolio of trusted aerospace products, such as structure-mounted airbags, two-point and multi-point restraints, and highly engineered military seating and restraints, in addition to non-aerospace restraints used in a multitude of racing applications,” stated ” stated Dirkson Charles, CEO and co-chairman of Loar Group.
“Given that close to 60% of Loar’s sales are to the aftermarket, we are excited to help drive Schroth’s aftermarket sales to even higher levels, consistent with our current business profile. We believe the combination of Loar and Schroth will provide Schroth the ability to continue serving its customers with high quality and customised solutions, while also providing access to growth capital and human resources that can be used to meet their customers’ future needs,” added Charles.