Liberty Hall Capital Partners, a US-based aerospace and defense industry focussed private equity firm, has announced it has acquired Connecticut, US-based Numet Machining Techniques, Inc. by UK-based Bromford Industries, a supplier of complex, close tolerance engine components, fabrications and assemblies for the global aerospace, defense and power generation industries, the company said.
Bromford was acquired in March 2016 by Liberty Hall to serve as the foundational asset for the firm´s strategy to build a diversified engine component supplier through organic investments and strategic acquisitions. Numet represents Bromford´s third acquisition following the strategic acquisitions of AeroCision LLC in March 2018 and Accrofab Ltd. in June 2019. Numet´s management team, who will remain in place, will also invest in the acquisition.
Financing for the acquisition was provided by Citizens Bank, N.A. and Stellus Capital Management. Legal advice to Bromford and Liberty Hall was provided by Gibson Dunn and Crutcher.
The sellers were advised by Lincoln International. Legal advice was provided by Benesch, Friedlander, Coplan and Aronoff.
Numet is a complementary US-based provider of aerospace engine machined components requiring complex geometries and exotic alloys. Numet supplies many of the key leading aerospace engine platforms, including the GTF, F135, PW4000, and LEAP, and its top customers include Pratt and Whitney, GE Aviation and the US Department of Defense.
Liberty Hall Capital Partners 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.
Bromford Industries Ltd. is a supplier of complex, close tolerance engine components, fabrications and assemblies for the global aerospace, defense and power generation industries. Bromford´s multiple and highly complementary capabilities allow the delivery of products to customers with optimal cost, quality and delivery.
