on Loar Holdings Inc.
Loar Holdings Acquires Harper Engineering for $250 Million
Loar Holdings Inc. (NYSE:LOAR) has announced the acquisition of Harper Engineering Company for $250 million in cash. Harper, founded in 1968, specializes in manufacturing mechanically engineered devices for aircraft interiors. The company's strong reputation for quality and punctuality makes it a valuable addition to Loar's portfolio.
The CEO of Loar, Dirkson Charles, highlighted Harper's strategic position in the commercial aerospace sector, expressing confidence in leveraging Loar's operational capabilities to enhance Harper's market presence. The transaction was financed through Loar's existing credit arrangement and cash reserves, with expected tax benefits of $30 million.
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