Liberty Hall Capital Partners acquires UK-based Bromford Industries
Royal Bank of Scotland’s asset-based lending team has announced a funding deal to support Liberty Hall Capital Partners (“Liberty Hall”), acquisition of Bromford Industries (“Bromford”), a leading supplier of complex, close tolerance engine components, fabrications and assemblies and landing gear components for the global aerospace and power generation industries.
Liberty Hall is a private equity firm focused exclusively on investments in businesses serving the global aerospace and defence industry. 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. 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.
Rowan Taylor, Liberty Hall’s founding partner said:
“Bromford is an ideal platform from which we can build a fully-integrated, diversified engine component supplier. We look forward to creating significant strategic value through Bromford by adding complementary capabilities, diversifying across customers and expanding content on the highest value platforms through organic investments and strategic acquisitions.”
Paul Noel, business development director, Royal Bank of Scotland asset-based lending team said:
“The Aerospace sector is one of our key focus industries and we are really excited to be working with Liberty Hall and management to help facilitate the growth of Bromford, organically, as well as through acquisitions. The ABL facility offers the flexibility to be used as part of the initial acquisition debt, as well as for future growth, capex and working capital requirements.”
Michael Stock, CFO at Bromford, added,
“We are looking forward to working with both Liberty Hall and Royal Bank of Scotland. The ABL facility offers the company both the flexibility and headroom to support its growth strategy.”