Liberty Hall Capital Partners Acquires Quatro Composites

Leading Advanced Composites Business to Integrate into Firm's AIM Aerospace Platform

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Feb 01, 2017, 06:00 ET

NEW YORK and RENTON, Wash. and ORANGE CITY, Iowa., Feb. 1, 2017 /PRNewswire/ -- Liberty Hall Capital Partners ("Liberty Hall"), a private equity firm focused exclusively on investments in businesses serving the global aerospace and defense industry, announced today the acquisition of Quatro Composites, L.L.C. ("Quatro"), a leading supplier of highly engineered advanced composite structures, components and assemblies for the aerospace industry. Quatro will be integrated into AIM Aerospace Corporation ("AIM"), a leading, independent supplier of composite ducting, substructural and interiors parts for the commercial aerospace industry. AIM was acquired in 2016 as the foundational asset of Liberty Hall's strategy to build a fully-integrated, diversified composites supplier through organic investments and strategic acquisitions. Terms of the transaction were not disclosed.

"The acquisition of Quatro is a critical step in executing our strategic plan for AIM," said Rowan Taylor, Liberty Hall's founding Partner. "Composites represent one of the fastest growing, and evolving, segments within the aerospace industry, and we have been seeking to identify and acquire businesses that serve emerging segments of the composites landscape. Quatro not only provides AIM further customer, platform and geographic diversification but also extends AIM's capabilities into structural composites and thermoplastics, two of the fastest growing areas within composites. The insertion of Quatro's proven design, development and production capabilities when combined with AIM's and Quatro's existing engineering capabilities, will allow the combined company to enter new composite market segments and deliver a new generation of complex products to meet ever increasing customer demand."

Founded in 1997, Quatro supplies highly engineered advanced composite structures, components and assemblies to the aerospace industry as well as medical and industrial markets. Quatro supplies several of the leading aerospace platforms, including the Boeing 787, Gulfstream G650 and Insitu X300, and Quatro's largest customers include The Boeing Company, Gulfstream, Insitu and United Technologies. Quatro operates from a Manufacturing Center located in Orange City, Iowa, and a Business Innovation Center located in Poway, California.

"As a leading supplier to companies like Boeing, Gulfstream and Insitu, the acquisition of Quatro allows AIM to further expand our market share on the highest value platforms while adding new customer relationships and gaining access to market leading composite structure and thermoplastic technology," said John Feutz, President of AIM Aerospace.

"We are very excited for Quatro and AIM to join forces," said Steve Roesner, President of Quatro Composites, who will remain President of Quatro while also joining the senior management team of AIM. "We believe the combined company will have the resources to continue to invest in technology, capabilities and capital to continue to support our customers."

Financing for the acquisition was provided under AIM's existing debt facilities that were arranged by Antares Capital, Citizens Bank and KeyBanc Capital Markets Inc. for first lien financing and Carlyle GMS Finance, Inc. for second lien financing. Legal advice to Liberty Hall was provided by Gibson Dunn & Crutcher and Schulte Roth & Zabel.

Legal advice to Quatro was provided by Nyemaster Goode.

About Liberty Hall Capital Partners
Liberty Hall Capital Partners is a private equity firm focused exclusively on investments in businesses serving the global aerospace and defense industry. Liberty Hall's principals have a 20-plus year history of working together and have led the investment of $2.3 billion in equity capital in businesses serving multiple segments of the aerospace and defense industry and complementary industrial end markets. Liberty Hall develops actionable investment strategies for attractive segments of the aerospace and defense industry and then partners with entrepreneurs and management teams to acquire leading businesses serving these segments and, together with them, develops sound, long-term strategic plans to build these businesses through a combination of strategic investments and strategic acquisitions. For more information, please visit http://www.libertyhallcapital.com/.

About AIM Aerospace
AIM Aerospace Corporation is a leading Tier II independent supplier of composite ducting, substructural and interiors parts for the commercial aerospace industry. AIM's multiple and highly complementary capabilities allow the delivery of products to its customers with optimal cost, quality and delivery. Based in Renton with additional facilities located in Auburn and Sumner, Washington, AIM Aerospace is currently executing a strategic plan to build its business through strategic investments in further capabilities, customers and platforms. For more information, please visit http://www.aim-aerospace.com/.

About Quatro Composites
Quatro Composites® is an Iowa-based advanced manufacturer offering a full line of services from design, analysis, prototyping and production of advanced composite products. Quatro manufactures and engineers products for the aerospace, defense, industrial and medical markets. The business operates in two locations, Orange City, Iowa (Corporate & Manufacturing Center) and Poway, California (Business Innovation Center). For further details, please visit www.quatrocomposites.com.

SOURCE Liberty Hall Capital Partners