Private equity firm acquires Wichita aircraft supplier ZTM

A New York-based private equity firm has acquired ZTM Inc., a Wichita-based supplier to Boeing and Spirit AeroSystems.

The company, at 4011 E. 31st St. South, west of Oliver, will be rolled into Liberty Hall Capital Partners’ Accurus Aerospace, also a Tier II supplier to the aircraft industry.

“ZTM not only expands Accurus’s content on the key 737 and 787 platforms, reinforces our strong relationships with our largest customers and extends Accurus’s geographic presence into Wichita, but also, importantly, provides Accurus with proven capabilities for delivery of large complex assemblies,” Liberty Hall Capital founding partner Rowan Taylor said in a news release.

ZTM, founded in 1989 and owned by Brad Julius, is a Tier II supplier of large, complex metallic parts and assemblies. Julius is retiring from ZTM, and a new president will be named in the next few weeks, according to an e-mail from Accurus.

With the acquisition, ZTM will be renamed ZTM Aerospace. It employs about 150 people.

Dallas-based Accurus also has operations in Tulsa; Kent and Renton, Wash.; and Athens, Ga. The acquisition of ZTM is Accurus’ fifth strategic purchase since Liberty Hall Capital formed Accurus in 2013.

Including the ZTM acquisition, the company has more than 575 employees.

Accurus’ customers also include Boeing and Spirit as well as Gulfstream, Lockheed Martin, Triumph, Northrop Grumman and GKN Aerospace.

Liberty Hall Capital did not disclose financial terms of the ZTM acquisition.

This story was originally published August 2, 2016 at 10:01 AM with the headline "Private equity firm acquires Wichita aircraft supplier ZTM."