• Applied Avionics designs, develops and manufactures highly engineered avionics interface solutions.
• Mesirow acted as the exclusive financial advisor on this transaction, highlighting the firm’s continued track record in the aerospace and defense sector.

CHICAGO, August 26, 2024 – Mesirow, an independent, employee-owned financial services firm, has announced it acted as the exclusive financial advisor to Applied Avionics, Inc. (“Applied Avionics” or the “Company”) on its sale to Loar Holdings Inc. (“Loar”).

Incorporated in 1968, Applied Avionics designs, develops and manufactures highly engineered avionics interface solutions. Applied Avionics is the manufacturer of the VIVISUN^® line of ruggedized, MIL-SPEC lighted pushbutton switches and NEXSYS^® system-to-system integration avionics, which are the preferred choices of leading aircraft retrofit providers, military prime contractors, Tier 1 suppliers, and OEMs, among others. Nearly all of the Company’s revenues are derived from proprietary designs and over 75% of revenues are derived from aftermarket retrofits and platform upgrades. Applied Avionics’ manufacturing plant in Fort Worth, TX, employs over 80 individuals.

Adam Oakley, Senior Managing Director and Co-Head of Investment Banking at Mesirow, said, “We appreciated the opportunity to represent Applied Avionics in this significant transaction. We enjoyed working with the AAI team to develop and execute a process that optimized the outcome for all of the Company’s key stakeholders.”

“We are grateful to Mesirow for their expert guidance and support throughout this process. Their commitment and industry expertise were instrumental in achieving a successful outcome for our company,” said Loren Jensen, CEO of Applied Avionics. Matt Hawkins, CFO of Applied Avionics, added “Mesirow's strategic insights and dedicated efforts were key in navigating this transaction. We are pleased with the result and thrilled to join forces with Loar and their family of companies.”

Andrew Carolus, Managing Director of Mesirow Investment Banking, said, “We were honored to advise Applied Avionics and appreciated the trust management afforded us throughout the transaction process. We believe the Company will continue to thrive in partnership with Loar, allowing management to continue to execute on its growth plan.”

The sale of Applied Avionics represents another successful aerospace and defense assignment completed by Mesirow Investment Banking. Mesirow Investment Banking has completed over 325 transactions in recent years across its covered verticals. Committed to leveraging extensive sector-specific expertise across industry groups and nurturing deep, longstanding relationships, Mesirow has a proven track record of completing highly tailored and successful transactions on behalf of its clients.