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Royal Bank of Scotland ABL Provides Financing in Bromford Acquisition

March 17, 2016, 07:54 AM
Filed Under: Aerospace

Liberty Hall Capital Partners announced the acquisition of Bromford Industries, a leading supplier of complex, close tolerance engine components, fabrications and assemblies and landing gear components for the global aerospace and power generation industries. Bromford will serve as the foundational asset for Liberty Hall's newest strategy to build a diversified engine component supplier to the global aerospace and power generation industries through organic investments and strategic acquisitions. Financing for the acquisition was provided by Royal Bank of Scotland Asset Based Lending. Terms of the transaction were not disclosed.

Formed in 2009 through the acquisition of Hampson Aerospace Machining, Midlands-based Bromford is a leading supplier of complex, close tolerance engine components, fabrications and assemblies and landing gear components for the global aerospace and power generation industries.  Bromford operates facilities located in Birmingham, Alcester and Leicester, UK. The company's largest customers include GE, Messier-Buggatti-Dowty, Rolls Royce, Siemens and Snecma.

Bromford Industries represents Liberty Hall's third platform acquisition. In February 2016, Liberty Hall acquired AIM Aerospace, a leading, independent supplier of composite ducting, substructural and interiors parts for the commercial aerospace industry. Liberty Hall also formed Accurus Aerospace Corporation, a fully-integrated, highly diversified Tier II aerostructures supplier, in 2013. Since its formation, Accurus has completed three strategic acquisitions: Precise Machining & Manufacturing (2013), McCann Aerospace Machining (2014) and LaCroix Industries (2015). Since 2000, Liberty Hall's principals have invested $2.2 billion in equity capital in eleven platform and eight add-on acquisitions serving the aerospace and defense industry and complementary industrial end markets.

Legal advice to Liberty Hall was provided by Schulte Roth & Zabel and Ashurst. Bromford was advised by PwC Corporate Finance, Mazars, Travers Smith and DLA Piper.

Liberty Hall Capital Partners is a private equity firm focused exclusively on investments in businesses serving the global aerospace and defense industry.





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