Liberty Hall Capital Partners Acquires Renton, Wash-based J&M Machine, LLC

Leading Precision Machining Business Becomes Fourth Supplier to Integrate into Firm's Accurus Aerospace Platform

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Jun 21, 2016, 07:00 ET

NEW YORK and KENT, Wash. and RENTON, Wash., June 21, 2016 /PRNewswire/ -- Liberty Hall Capital Partners ("Liberty Hall"), a private equity firm focused exclusively on investments in businesses serving the global aerospace and defense industry, announced today the acquisition of J&M Machine, LLC ("J&M"), a Tier II supplier of precision machined metallic parts and assemblies for the global aerospace industry. J&M will be integrated into the LaCroix Industries division of Accurus Aerospace Corporation ("Accurus"), a leading Tier II supplier of highly engineered machined parts, kits and assemblies and processing services, focused on the highest value aircraft platforms. Liberty Hall's investment partners in Accurus are Hamilton Lane and other leading institutional investors. Terms of the transaction were not disclosed.

"The strategic 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, Liberty Hall's founding Partner. "In its over 15-year history, J&M has built a reputation for providing customers with complex machined parts while achieving impeccable quality and delivery standards. 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."

Founded in 2001, and owned by Marjorie Langton, Renton-based LaCroix supplies several of the highest value Boeing commercial aerospace platforms, including the 737, 777 and 787. In addition to expanding Accurus's content on these key aircraft platforms, J&M further diversifies Accurus's customer mix and expands Accurus's geographic presence in the Pacific Northwest, the core aerospace supply region in the United States.

Accurus was formed by Liberty Hall in 2013 and, since its formation, has completed three strategic acquisitions: Precise Machining & Manufacturing (2013), McCann Aerospace Machining (2014) and LaCroix Industries (2015).

Jim Gibson, President and CEO of Accurus, said, "J&M is a preferred supplier of high-precision metallic machined parts in the Northwestern U.S., and, like LaCroix, has been recognized for superior performance through industry recognitions such as Boeing's Performance Excellence Award. We are pleased to be able to substantively expand the Accurus platform in this important region and, through the acquisition, allow LaCroix and J&M to extend their distinct capabilities to our global base of customers."

Financing for the acquisition was provided by Bank of America Merrill Lynch. Legal advice to Liberty Hall and Accurus was provided by Schulte Roth & Zabel and Pillsbury. J&M Machine was advised by Meridian Capital and Tousley Brain Stephens.

About Liberty Hall Capital Partners
Liberty Hall Capital Partners is a private equity firm focused exclusively on investments in businesses serving the global aerospace and defense industry. Liberty Hall's principals have led the investment of $2.2 billion in equity capital in businesses serving multiple segments of the aerospace and defense industry and complementary industrial markets. Liberty Hall develops actionable investment strategies for attractive segments of the aerospace and defense industry and then partners with entrepreneurs and management teams to acquire leading businesses serving these segments and, together with them, develops sound, long-term strategic plans to build these businesses through a combination of strategic investments and strategic acquisitions. For more information, please visit http://www.libertyhallcapital.com/.

About Accurus Aerospace Corporation
Accurus Aerospace Corporation is a leading Tier II supplier of highly engineered machined parts, kits and assemblies and processing services to the global aerospace and defense industry focused on the highest value aircraft platforms. Accurus was formed in November 2013 to acquire the business of Precise Machining & Manufacturing, and then acquired McCann Aerospace Machining in March 2014 and LaCroix Industries in July 2015. The company possesses highly complementary capabilities that allow Accurus to deliver its products to its customers with optimal cost, quality and delivery. Accurus is currently executing a strategic plan to build its business through strategic investments. For more information, please visit http://www.accurusaero.com/.

SOURCE Liberty Hall Capital Partners