Loar Group Inc. announced today (Wednesday, 6 September 2023) that it has recently closed the acquisition of the CAV Systems Group Limited, which was previously a portfolio company of Baird Capital, a Global Private Equity and Venture Capital firm.
Headquartered in Consett, United Kingdom, CAV is a leading provider of highly engineered ice protection and drag reduction systems. CAVs technologically advanced TKS® and SLD® ice protection solutions provide its customers with enhanced safety and improved operating characteristics. TKS® can be found on a variety of General and Business aviation platforms operating across the globe. CAV’s product offering includes advanced leading-edge technology that is a key enabler for the reduction of fuel consumption and carbon emissions on the Boeing 787.
Dirkson Charles, CEO of Loar Group, stated, “We are excited to add CAV to the Loar family. CAV fits our strategic initiative of adding niche capabilities and proprietary products to our suite of customer solutions. With the addition of CAV, we are able to provide our combined customers with a full complement of de-icing and ice protection solutions, meeting the technological requirements of their diverse set of aircraft applications,” continued Mr. Charles. “As over 50% of Loar’s sales are derived from the aftermarket, we look forward to accelerating CAV’s aftermarket initiatives.”
Mike Eggleston, CEO of CAV, said: “Baird Capital has been a fantastic partner to the business and has been extremely supportive over their investment period, enabling the business to further develop its unique technology and build its reputation as a global leader in ice protection and drag reduction technologies with global aerospace OEMs. As a result, and with the support of the Loar Group, we are exceptionally well-positioned for our next stage of growth.”
Loar Group Inc. is a diversified manufacturer and supplier with established relationships across leading aerospace and defense OEMs, Tier One manufacturers, and airline 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 with innovative, cost-effective engineering and manufacturing capabilities coupled with responsive, dependable service, leading to profitable and sustainable long-term relationships.