A Tulsa company that is a supplier to Spirit AeroSystems and Boeing is being sold to Liberty Hall Capital Partners, a private equity firm.
In a news release from Liberty Hall, company officials said they will use Precise Machining & Manufacturing as the foundational asset of Accurus Aerospace Corporation, which will be a diversified Tier II aerostructures supplier.
Terms of the purchase were not disclosed.
Rowan Taylor, Liberty Hall’s founding partner said in a statement that because of strong demand from emerging markets and the need for fuel-efficient commercial aircraft, “annual production of new aircraft is expected to increase significantly over at least the next decade,” which provides the potential for growth “for well-positioned and well-capitalized suppliers like Accurus.”
Precise was founded in 1974 and supplies several of the highest value commercial aerospace and military platforms, including the Boeing 737, 747, 777 and 787 and the Gulfstream G650, as well as select U.S. military platforms.
The company’s two largest customers are Boeing Co. and Spirit, according to the release.