Liberty Hall Capital Partners acquires Accrofab
Liberty Hall Capital Partners, a private equity firm investing exclusively in businesses serving the aerospace and defence industry, announced today the acquisition of Accrofab Ltd, a supplier of complex fabricated and machined engine bracketry for the global aerospace industry, by Bromford Industries, provider of complex, close tolerance engine components, fabrications and assemblies for the global aerospace and power generation industries.
The terms of the transaction have not been disclosed.
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. Accrofab represents Bromford’s second acquisition following the strategic acquisition of AeroCision LLC in March 2018.
“The addition of Accrofab brings new and complementary aerospace fabrication capabilities to Bromford and advances our strategic position with key customers on target engine platforms," said Rowan Taylor, Liberty Hall's founding and Managing Partner. “This acquisition is another key step in executing our strategic vision for Bromford.”
“Accrofab is a trusted partner in the introduction of hundreds of complex, new parts each year and has proven capabilities and expertise when it comes to providing a comprehensive fabrication solution,” said Jack Nadal, Partner, Liberty Hall. “We are excited to leverage Bromford’s existing capabilities, customer relationships, geographic reach and world class leadership team to realize new opportunities for Accrofab.”
Founded in 1977, Accrofab is a leading supplier of complex fabricated and machined engine bracketry for the global aerospace industry. The company supplies several leading aerospace engine platforms, including the Trent 1000 TEN, Trent XWB, Trent 7000 and BR7000NG, and its top customers include Rolls Royce and PattonAir. Accrofab operates a single facility located in Derby, United Kingdom.
Bromford’s CEO, Gary Lowe, commented: “Accrofab shares our vision and commitment to unparalleled quality and customer service and we are pleased to integrate Accrofab into Bromford, providing our global customers with enhanced capabilities for new product introduction and strengthening our existing strategic relationships.”
Financing for the acquisition was provided by Citizens Bank, CIT Bank and Beechbrook Capital. Legal advice to Bromford and Liberty Hall was provided by Gibson Dunn & Crutcher.
Accrofab’s selling shareholders were advised by ProVantage Corporate Finance. Legal advice was provided by Flint Bishop and Geldards.