Bromford is using the funds to refinance existing debt and to acquire Numet Machining Techniques, Inc., an Orange, CT-based provider of aerospace engine machined components requiring complex geometries and exotic alloys. Citizens is left lead arranger, joint bookrunner and administrative agent.
“Citizens Commercial Banking is a trusted strategic and financial partner,” said Jack Nadal, partner of Liberty Hall Capital Partners, a private equity firm focused exclusively on investments in businesses serving the global aerospace and defense industry. “They bring transformative ideas to the table and execute our transactions seamlessly.”
Numet is Bromford’s third deal in two years following the strategic acquisitions of AeroCision in March 2018 and Accrofab in June 2019.
“Providing acquisition capital and strategic advice are some of the ways that Citizens delivers substantial value for our clients,” said Daniel K. Fitzpatrick, president of Citizens Bank, Mid-Atlantic Region, and head of National Industry Verticals. “In this case, the Aerospace, Defense and Government Services corporate banking team led by Dan Darnell and our Aerospace and Defense Corporate Finance team led by Jeff Harrick once again demonstrated their expertise by assisting Bromford Industries.”
Birmingham, UK-based Bromford Industries is a supplier of complex, close tolerance engine components, fabrications and assemblies for the global aerospace and power generation industries.