Private equity firm Liberty Hall Capital Partners bought engineered parts supplier Precise Machining & Manufacturing. The terms of the acquisition deal were not disclosed. This was according to a press release published by PR Newswire.
Precise Machining is a company based in Tulsa that supplies processing services and highly engineered machined parts to global aerospace companies. The firm was founded in 1974. The company's most prominent clients include Spirit AeroSystems and The Boeing Company, the press release said.
Liberty Hall is a private equity company that focuses on investments in the defense and global aerospace arena. The company formed Accurus Aerospace Corporation, a company similar to Precise Machining, to become a Tier II aerospace parts supplier using strategic investments and acquisitions. Precise Machining will become the foundational asset of Accurus, the press release explained.
Bank of America Merrill Lynch provided the funds for the acquisition deal. Schulte Roth & Zabel provided legal advice on the transaction, PR Newswire reported.
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