Liberty Hall Capital Partners announces sale of AIM Aerospace to Sekisui Chemical Group

Liberty Hall Capital Partners, a private equity firm focused exclusively on investments in businesses serving the global aerospace and defense industry, announced today that it has executed a definitive agreement to sell AIM Aerospace, a leading designer and producer of advanced composite structures, systems, engine components and thermoplastic technology for the global aerospace industry, to Sekisui Chemical Group for US$510 million in cash, subject to customary adjustments.

"AIM Aerospace is an integrated and diversified composite supplier with an innovative approach and proven track record on delivering a range of full-service solutions for the commercial and military aircraft and engine markets," said Rowan Taylor, Liberty Hall's founding and Managing Partner. "Over the past three years through our partnership with AIM Aerospace, the company has expanded its capabilities, diversified its customer base and extended its geographic reach. AIM Aerospace is now leading the way in the implementation of advanced thermoplastics and intelligent automation for aerospace in North America. As demand for composite components continues to increase, we are pleased that AIM Aerospace is well-positioned to deliver a new generation of complex products to the industry. We are very proud to transfer leadership to Sekisui to oversee the next chapter in AIM Aerospace's expansion."

Founded in 1988 as part of the UK-based AIM Group PLC, Renton, WA-based AIM Aerospace has more than 1,000 employees operating from its manufacturing centers of excellence and research and technology center located in the United States. The company's key customers include The Boeing Company, GE, Kawasaki Heavy Industries and Spirit AeroSystems. AIM Aerospace was acquired by Liberty Hall in 2016 to serve as the foundational asset of the firm's strategy to build a fully-integrated, diversified composites supplier. In 2017, Liberty Hall acquired Quatro Composites, a leading supplier of highly engineered advanced composite structures, components and assemblies for the aerospace industry, and integrated the company into AIM Aerospace.

"With the support of Liberty Hall, AIM Aerospace has grown stronger in the past three years by extending its leadership position in manufacturing of complex thermoplastic aerospace components, growing its customer base, and entering the engine composites segment of the market," said Taylor Catarozoli, Partner, Liberty Hall. "AIM Aerospace has demonstrated an ability to deliver innovative solutions to complex problems as one integrated platform, and we applaud the company's leadership, led by Daniele Cagnatel, for their work in transforming the company and creating new opportunities."

"Through our partnership with Liberty Hall and the relentless efforts of our skilled employees, AIM Aerospace has built on its strengths in composite thermoplastics manufacturing, and successfully positioned itself on key growth programs in structures and engine components on both Boeing and Airbus platforms." said Daniele Cagnatel, Chief Executive Officer, AIM Aerospace. "We appreciate the support of Liberty Hall in preparing us to reach the next stage of growth. We are excited to join the Sekisui Group, and plan to leverage their strong industrial, material and manufacturing expertise to further enhance our capabilities, as well as utilize their global presence to better serve our current and emerging customer needs."

Completion of the transaction is expected to occur in the fourth quarter of 2019, subject to customary closing conditions and applicable regulatory reviews.

Lincoln International served as sell-side financial advisor to Liberty Hall. Legal advice to Liberty Hall was provided by Gibson Dunn & Crutcher.