Daily News: July 9, 2019

Citizens Supports Bromford Acquisition of Accrofab

Citizens Commercial Banking led a new credit facility for UK-based Bromford Industries, a supplier of complex, close tolerance engine components, fabrications and assemblies for the global aerospace and power generation industries. The facility supported Bromford’s acquisition of Accrofab, a supplier of complex fabricated and machined engine bracketry for the global aerospace industry. Citizens is the sole lead arranger.

“Citizens Commercial Banking is a trusted financing partner,” said Rowan Taylor, founding and Managing Partner of Liberty Hall Capital Partners, a private equity firm based in Charleston, S.C., with offices in New York City which is focused exclusively on investments in businesses serving the global aerospace and defense industry. “They always bring smart, transformative ideas to the table and execute our transactions quickly and seamlessly.”

Founded in 1977, Accrofab supplies several leading aerospace engine platforms, including the Trent 1000 TEN, Trent XWB, Trent 7000 and BR7000NG, and its top customers include Rolls Royce and PattonAir. Accrofab operates a single facility located in Derby, UK.

Accrofab represents Bromford’s second acquisition following the strategic acquisition of AeroCision in March 2018. Liberty Hall acquired Bromford in 2016.