Farol Asset Management LP, along with other institutional investors, partnered with Liberty Hall Capital Partners LP to complete the acquisition AIM Aerospace, a Renton, Washington-based supplier of parts for the aerospace industry. The transaction was valued at $220 million.
NEW YORK, LONDON and RENTON, Wash., Feb. 11, 2016 /PRNewswire/ — Farol Asset Management LP (“Farol”), along with other leading institutional investors, has partnered with Liberty Hall Capital Partners, L.P. (“Liberty Hall”) to complete the acquisition of AIM Aerospace, a leading, independent supplier of composite ducting, substructural and interiors parts for the commercial aerospace industry, in a transaction valued at $220 million, subject to customary adjustments as per the purchase agreement.
“Liberty Hall is a leading private equity firm in the aerospace and defense market and we are extremely pleased to partner with them on this investment,” said Doug Kelly, Partner at Farol. “We seek to invest alongside private equity firms in companies and industries where they demonstrate deep institutional knowledge and have the ability to create real value. AIM Aerospace is well positioned to benefit from the growth in the industry including the introduction of next generation aircraft and the shift from metal to composite parts.”
“We are very excited to partner with Farol,” said Rowan Taylor, Liberty Hall’s founding Partner. “Farol is a thoughtful, responsive and highly respected investor who will provide us many benefits in the years ahead as we together help build AIM Aerospace.”
Founded in 1988 as part of the UK-based AIM Group PLC, Renton-based AIM Aerospace is a leading, independent supplier of composite ducting, substructural and interiors parts for the commercial aerospace industry, focused on the highest value Boeing platforms, including the 737, 777 and 787. AIM Aerospace is one of the largest employers in the greater Seattle area with over 1,000 employees operating from facilities located in Renton, Auburn and Sumner, Washington. The company’s largest customers include The Boeing Company, Kawasaki Heavy Industries, Spirit Aerosystems and B/E Aerospace. AIM Aerospace was a 2014 recipient of the Spirit Supplier of the Year Award.
About Farol Asset Management, LP:
Founded in 2011, Farol is a private equity firm that provides direct and co-investment solutions to leading institutional investors worldwide. The firm manages $250 million in capital and, working alongside experienced operators, investors and funds, invests in a broad range of sectors including, but not limited to industrial, business services, consumer products and services, manufacturing and software and technology.
For more information, please visit: http://www.farolam.com
About Liberty Hall Capital Partners:
Liberty Hall Capital Partners is a private equity firm focused exclusively on investment in businesses serving the global aerospace and defense industry. Liberty Hall’s principals have a 20-plus year history of working together and have led the investment of $2.2 billionin equity capital in businesses serving multiple segments of the aerospace and defense industry and complementary industrial end 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.