Seattle, Washington | June 2016 – Meridian Capital is pleased to announce the acquisition of its client, J&M Machine, LLC (“J&M”), by Liberty Hall Capital Partners, a private equity firm focused exclusively on investments in businesses serving the global aerospace and defense industry. In connection with the transaction, Meridian served as the exclusive advisor to the shareholders of J&M.
J&M is a Tier II supplier of precision machined metallic parts and assemblies for the global aerospace industry. J&M will be integrated into Liberty Hall’s Accurus Aerospace Corporation (“Accurus”) portfolio company, a leading Tier II supplier of highly engineered machined parts, kits and assemblies and processing services focused on the highest value aircraft platforms.
“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’ 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.”
Founded in 2001, Renton-based J&M supplies several of the highest value Boeing commercial aerospace platforms, including the 737, 777 and 787. In addition to expanding Accurus’ content on these key aircraft platforms, J&M further diversifies Accurus’ customer mix and expands their geographic presence in the Pacific Northwest, the core aerospace supply region in the United States.
Marj Langston, Owner and President of J&M commented, “Liberty Hall and Accurus Aerospace represent a terrific home for J&M and its employees. The acquisition will position the business for continued growth and an expanded relationship with Boeing. Meridian’s deep understanding of the aerospace market and value drivers in the industry were critical in helping identify multiple opportunities, and ultimately, the right partner.”
Financing for the acquisition was provided by Bank of America Merrill Lynch. Legal advice to J&M was provided by Tousley Brain Stephen.
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/.