Citizens Financial : Commercial Banking Leads New Financing for Bromford Industries

01/07/2020

Citizens Commercial Banking Leads New Financing for Bromford Industries

Funds used in part for acquisition ofNumet Machining Techniques, Inc.

PROVIDENCE, RI - Citizens Commercial Banking led a new credit facility for Liberty Hall Capital Partners portfolio company Birmingham, England-based Bromford Industries, a leading supplier of complex, close tolerance engine components, fabrications and assemblies for the global aerospace and power generation industries. Bromford is using the funds to refinance existing debt and to acquire Numet Machining Techniques, Inc., an Orange, Connecticut-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 LLC in March 2018 and Accrofab Limited 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.'

The Citizens Commercial Banking approach puts clients first by offering great ideas combined with thorough market knowledge and excellent execution to help our clients enhance their business and reach their potential.

For more information, please go to the Citizens Commercial Banking website.

About Citizens Financial Group, Inc.

Citizens Financial Group, Inc. is one of the nation's oldest and largest financial institutions, with $164.4 billion in assets as of September 30, 2019. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a 24/7 customer contact center and the convenience of approximately 2,900 ATMs and approximately 1,100 branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers corporate, institutional and not-for-profit clients a full range of wholesale banking products and services, including lending and deposits, capital markets, treasury services, foreign exchange and interest rate products, and asset finance. More information is available at www.citizensbank.comor visit us on Twitter, LinkedInor Facebook.