Loar Holdings completes acquisition of Harper Engineering Company for $250M

Loar Holdings (LOAR) completed the acquisition of Harper Engineering Company for cash consideration of $250M. Founded in 1968 by O.J. Harper, Harper Engineering is a leading manufacturer of mechanically engineered devices for aircraft interiors. The company holds a proprietary portfolio of latching and securing mechanisms used across multiple leading commercial aerospace platforms. Known for exceptional quality and on-time delivery, Harper consistently earns top recognition from its original equipment and aftermarket customers. The company employs approximately eighty-five team members across two facilities in the Seattle, Washington area. The acquisition was financed through additional borrowings under Loar’s existing credit agreement and cash on hand. Loar also expects to receive tax benefits of approximately $30M as a result of the transaction.