Loar Holdings announced it has completed the acquisition of Harper Engineering Company in an all-cash transaction valued at $250 million.
Harper, founded in 1968 by O.J. Harper, manufactures mechanically engineered devices used in aircraft interiors, including a proprietary portfolio of latching and securing mechanisms deployed across multiple commercial aerospace platforms. The company employs about 85 people across two facilities in the Seattle area and serves both original equipment and aftermarket customers, with Loar citing Harper’s reputation for quality performance and on-time delivery.
Loar said Harper holds established line fit positions on several in-production aircraft programs, a factor the buyer expects will support growth as commercial aircraft build rates rise. The company also said it plans to pair Loar’s operational and engineering capabilities with Harper’s product set to support customized customer solutions and expand Harper’s aftermarket footprint.
The acquisition was funded through additional borrowings under Loar’s existing credit agreement and cash on hand. Loar said it expects to realize approximately $30 million in tax benefits related to the transaction.
Loar is a supplier of niche aerospace and defense components and said it maintains relationships across major aerospace and defense OEMs and Tier One suppliers globally.
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“Harper maintains well-established line-fit positions on several leading in-production aircraft, positioning the business to benefit from near-term growth in commercial build rates. The combination of our operational and engineering capabilities will support Harper’s continued success in delivering tailored solutions for customers while expanding Harper’s aftermarket presence.”
Dirkson Charles, Chief Executive Officer and Co-Chairman of the Board, Loar Holdings
