Liberty Hall acquires J&M Machine

New York, Kent and Renton, Washington – Liberty Hall Capital Partners, a private equity firm focused exclusively on investments in businesses serving the global aerospace and defense industry, has acquired J&M Machine LLC of Renton, Washington, 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 Corp., a Tier II supplier of highly engineered machined parts, kits and assemblies, and processing services, focused on high-value aircraft platforms. Liberty Hall’s investment partners in Accurus are Hamilton Lane and other 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 Co. and substantively expands Accurus’s geographic presence in the Northwest,” said Rowan Taylor, Liberty Hall’s founding partner. “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, a core aerospace supply region.

 

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.” 

 

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.