Liberty Hall Capital Partners, a New York, N.Y.-based private equity firm focused exclusively on the global aerospace and defense industry, announced the acquisition of Tulsa, Okla.'s Precise Machining & Manufacturing, a Tier II supplier of machined parts, kits and assemblies and processing services to the aerospace industry. Precise will serve as the foundational asset of Accurus Aerospace Corporation, a fully integrated Tier II aerostructures supplier formed by Liberty Hall through a combination of investments and additional acquisitions. Liberty Hall's investment partners in the transaction are Hamilton Lane and other leading institutional investors.
Liberty Hall has recruited Jim Gibson, former executive vice president of business development for Synchronous Aerospace Group, Santa Ana, Calif., to lead Accurus as its CEO. At Synchronous, Gibson was responsible for new business development, strategy and identifying and integrating strategic acquisitions. Prior to joining Synchronous, Gibson was president of GKN Transparency Systems. Accurus also named Dennis Gilbert, veteran of Amsafe Industries, Esterline Corporation and GKN Aerostructures, as CFO.