Harper Engineering Completes Sale to Loar Holdings Inc.

Harper Engineering Co. ("Harper" or the "Company"), a leading supplier of latching systems and fittings technology to commercial aviation manufacturers and airlines, announced on January 22^nd the completion of the Company's sale to Loar Holdings Inc. (NYSE:LOAR) ("Loar").

Harper's focus on employee ownership and engagement has long been a key driver in its success. Harper is a meaningful example of the power of a culture of employee ownership, and the hard work and dedication of the employee family has resulted in a long history of exceptional performance.

To our valued clients, on behalf of the entire team, Harper Engineering Co. extends its deepest gratitude for your unwavering trust and partnership; your commitment to our shared vision has been the bedrock of our success, driving innovation and empowering us to overcome challenges and achieve record results. We are genuinely honored to have supported your goals, looking forward to even greater achievements.

"Thank you to every single person on the Harper team and everyone who has been part of our journey," said Bob Hazel, Chairman of Harper. "Together, we have exceeded our goals, delivered for Harper's customers, and supported each other and our community. We are incredibly proud of our work together and this milestone for all Harper shareholders and non-shareholder employees."

"As we considered the Company's next chapter, it was of the utmost importance to not only find a strategic partner who could further build on Harper's strong performance and growth, but also one who would continue to prioritize the backbone of the business – its workforce. Loar is, without question, the right home for the Company for our next phase. By joining forces with Loar, Harper will continue to be part of an employee-centric organization," added Carlo Mears, CEO of Harper. "Loar is led by a team of exceptional industrial visionaries who are experts at investing in and growing leading aerospace businesses. We are confident that in partnership with Loar's management, Harper will go on to surpass its past achievements."

With Loar's acquisition, Harper's leadership team is expected to remain in place and continue to run the business under the Harper name.

Solomon Partners acted as the sole financial advisor to Harper. Carney, Badley, and Spellman acted as legal advisors.

Founded by Mr. OJ Harper in 1968, Harper Engineering Co. addresses technical challenges in aircraft interiors. Harper is a leading producer of mechanically engineered devices for aircraft interiors, with a range of aircraft-certified products such as stowage bin latches, ceiling latches, door locks, oxygen bottle brackets, and seat track fittings.

Our dedicated leadership, innovative culture, and vertical integration enable us to solve our customers' needs by designing, testing, certifying, and manufacturing products in extremely short time frames. Harper is committed to resolving the most intricate technical problems faced by our customers. We prioritize the consistent delivery of flawless parts on time and maintain a steadfast commitment to leadership within the aerospace industry.