Accurus Aerospace, a portfolio company of Liberty Hall Capital Partners, has acquired J&M Machine, a Tier II supplier of machined metallic parts and assemblies used in aerospace applications.
Accurus Aerospace was formed as a platform company by Liberty Hall in November 2013. Since its formation, Accurus has completed three acquisitions: Precise Machining & Manufacturing (November 2013); McCann Aerospace Machining (March 2014); and LaCroix Industries (July 2015). J&M will be integrated into the LaCroix Industries division of Accurus.
LaCroix supplies several Boeing commercial aerospace platforms, including the 737, 777 and 787. In addition to expanding Accurus’s content on these aircraft platforms, J&M diversifies Accurus’s customer mix and expands Accurus’s geographic presence in the Pacific Northwest, the core aerospace supply region in the United States.
“The acquisition of J&M provides Accurus with new high-precision machining capabilities inside our LaCroix division, expands our relationship with The Boeing Company and substantively expands Accurus’s geographic presence in the Northwest,” said Rowan Taylor, a partner at Liberty Hall. “The addition of J&M marks the fourth acquisition for Accurus as we continue to execute our strategy to build a leading, fully capable, diversified Tier II aerostructures supplier.” Accurus Aerospace is headquartered in Tulsa (www.accurusaero.com).
Liberty Hall invests exclusively in businesses serving the aerospace and defense industry. The firm was founded by Mr. Taylor in July 2011 and is headquartered in New York (www.libertyhallcapital.com).
Philadelphia-based Hamilton Lane (www.hamiltonlane.com) is a co-investor in the Accurus Aerospace platform.
Financing for the buy of J&M Machine was provided by Bank of America Merrill Lynch (www.baml.com), which provided financing for the formation of the Accurus Aerospace platform in November 2013.
Seattle-based investment bank Meridian Capital (www.meridianllc.com) was the financial advisor to J&M Machine.
© 2016 Private Equity Professional • 6-23-16
