PE-backed Accurus promotes four and hires one

Accurus Aerospace Corp, which is backed by Liberty Hall Capital Partners, has made several promotions in its team and a new addition. The company, a provider of machined parts, kits and assemblies and processing services for the aerospace and defense sector, has promoted Diane Craig to vice president of finance; Andrea Dorr to senior vice president of business development; Larry Johnson to corporate vice president of operations; and Tyson Toews to vice president of programs and supply chain. Also, Accurus has hired Cory Welscher as president and general manager of Precise Machining & Manufacturing, which Accurus acquired in 2013.

PRESS RELEASE

NEW YORK and DALLAS, Aug. 16, 2016 /PRNewswire/ — Liberty Hall Capital Partners (“Liberty Hall”), a private equity firm focused exclusively on investments in businesses serving the global aerospace and defense industry, today announced a series of promotions and an additional hire in the management team of Accurus Aerospace Corporation (“Accurus”), a leading Tier II supplier of highly engineered machined parts, kits and assemblies and processing services, focused on the highest value aircraft platforms.

“Having completed our fifth acquisition late last month, these management changes come at an exciting time for Accurus, and for the aerospace industry overall,” said Rowan Taylor, Liberty Hall’s founding Partner. “The combined, proven experience of these individuals will be of tremendous value as we continue to execute our business strategy.”

Accurus promoted four professionals in its senior management team:
Diane Craig was promoted to Vice President of Finance for Accurus. Ms. Craig has more than 20 years of finance and audit experience within the industrial and aerospace sectors across the world. Ms. Craig joined Accurus in 2015 as a Corporate Controller. Prior to joining Accurus, Ms. Craig was Director of Finance at Wyman Gordon, a division of Precision Castparts Corp.

Andrea Dorr was promoted to Senior Vice President of Business Development for Accurus. Ms. Dorr has more than 20 years of experience in aerospace business development leadership and technical program management, covering complex metal components, titanium, and carbon fiber-reinforced composites. Prior to joining Accurus, Ms. Dorr was Director of Business Development for PCC Aerostructures, a division of Precision Castparts Corp.

Larry Johnson was promoted to Corporate Vice President of Operations of Accurus and named President of ZTM Aerospace, a supplier of large, complex metal parts and assemblies for the global aerospace industry that was acquired by Accurus in July 2016. Mr. Johnson has more than 20 years of aerospace manufacturing experience and was previously President and General Manager of Precise Machining and Manufacturing (“Precise”), the foundational asset of Accurus, where he instilled his operations knowledge, manufacturing principles, and Lean concepts into the business, along with improving and launching business systems to transform the operational efficiency of Precise, allowing it to more than double its revenues by 2014.

Tyson Toews was named Vice President of Programs and Supply Chain for Accurus. Mr. Toews has more than 10 years of experience in aerospace program management, supply chain, production control, business development, estimating, and engineering for complex machined structural components and assemblies. In his former role as Director of Business Operations at Precise, Mr. Toews has been instrumental in the rapid growth and success at Precise since 2014. Prior to joining Accurus, Mr. Toews was Director of Business Operations at Walden’s Machine, a division of Precision Castparts Corp.

In addition, Cory Welscher has joined Accurus as President and General Manager of Precise. Mr. Welscher has held numerous positions in aerospace engineering and program management, and most recently served as Vice President and General Manager of Walden’s Machine and OMADA International, Oklahoma City (formerly known as Pro-Fab).

All of these individuals will report to Robert A. Kirkpatrick, President and COO of Accurus.

Mr. Kirkpatrick added: “These well-deserved promotions acknowledge the exceptional work of our management team, which has helped to position Accurus as a leading, fully capable, and diversified Tier II aerostructures supplier.”

Accurus was formed by Liberty Hall in 2013 and, since its formation, has completed five strategic acquisitions: Precise Machining & Manufacturing (2013), McCann Aerospace Machining (2014), LaCroix Industries (2015), J&M Machine (2016) and ZTM Aerospace (2016).

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 $2.3 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, LaCroix Industries in July 2015, J&M Machine in May 2016 and ZTM Aerospace in July 2016. 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/.