July 14, 2022
The Loar Group Inc. Announces it is Acquiring Schroth Safety Products
Loar Group Inc. (Loar) announced today that it has entered into a definitive agreement for the purchase of Schroth Safety Products (Schroth). The transaction has received the required regulatory approvals and is scheduled to close before the end of July.
Headquartered in Arnsberg, NRW (Germany), Schroth is a leading designer and manufacturer of advanced occupant safety systems (e.g., seatbelts and airbags) for the global aerospace, defense, and high-performance consumer industries. Approximately 90% of Schroth’s sales are products which have customized designs containing proprietary intellectual property. Schroth’s customers include leading OEMs across both the commercial and military aircraft segment as well as those serving the automotive/racing and emergency services markets. With a strong background in engineering and design, the team at Schroth is highly regarded for its ability to meet and exceed customers’ needs in demanding certification environments.
“We are excited about the addition of Schroth to the Loar Family. The company’s strong management team, engineering talent, and product offerings will expand our capabilities and improve Loar’s ability to serve our customers’ unique and niche demands” stated Dirkson Charles, CEO and Co-Chairman of Loar Group. “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. We have long admired the work of the team at Schroth and their ability to deliver highly engineered solutions to the market,” continued Mr. Charles. “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 customized solutions, while also providing access to growth capital and human resources that can be used to meet their customers’ future needs.”
Loar Group Inc. is a diversified manufacturer and supplier with established relationships across leading aerospace and defense OEMs and Tier One customers worldwide. The Company’s mandate is to create a strategic global alliance of companies specializing in the design and manufacture of aerospace and defense components. Loar provides its partners and customers with innovative, cost-effective engineering and manufacturing capabilities and responsive, dependable service, leading to profitable and sustainable long-term relationships.
For more information, please contact Loar at info@loargroup.com
