Liberty Hall Capital Partners acquires Onboard Systems

CHARLESTON, SC and VANCOUVER, WA – Liberty Hall Capital Partners announced the acquisition of Onboard Systems, Inc., the leading global provider of external cargo handling equipment for civil and military helicopters. Liberty Hall is a private equity firm focused exclusively on investments in businesses serving the global aerospace and defense industry.  Onboard Systems represents the firm’s strategy to acquire niche suppliers of proprietary products into both the original equipment and aftermarket segments of the aerospace industry.  Terms of the transaction were not disclosed.

Founded in 1975, Vancouver, WA based Onboard Systems is the leading global provider of external cargo handling equipment for civil and military helicopters. They have factory installed proprietary products on over 30 helicopter models serving over 1,000 original equipment and aftermarket customers.  Onboard Systems has been family owned and operated since inception.  Almost all of the company’s sales are derived from its proprietary designs.

Onboard Systems’s existing management team, led by Jason Lemmon, President, will remain in their roles following the acquisition and together hold a significant equity position.

Onboard Systems represents Liberty Hall’s sixth platform acquisition since November 2013. The earlier acquisitions included the following companies:

• In November 2013, Liberty Hall formed Tulsa, OK-based Accurus Aerospace Corporation, a leading Tier II supplier of metallic parts, kits and assemblies and processing services.
• In February 2016, Liberty Hall acquired Renton, WA-based AIM Aerospace, a leading designer and producer of advanced composite structures, systems, engine components and thermoplastic technology.
• In March 2016, Liberty Hall acquired Birmingham, UK-based Bromford Industries, a leading supplier of complex, close tolerance engine components, fabrications and assemblies and landing gear components.
• In June 2017, Liberty Hall acquired Birmingham, UK-based Dunlop Aircraft Tyres, a leading independent global designer, manufacturer and retreader of aircraft tires.
• In November 2018, Liberty Hall acquired Aircraft Performance Group, a leading global provider of proprietary flight operations software solutions into the aftermarket of the aerospace industry.

Financing for the acquisition was provided by Ally Finance. Legal advice to Liberty Hall was provided by Gibson Dunn & Crutcher.

The sellers were advised by Houlihan Lokey.  Legal advice to the sellers was provided by Perkins Coie.

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 25-plus year history of working together and have led the investment of over $2.5 billion in equity capital in over 25 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 Onboard Systems
Onboard Systems is the leading global provider of external cargo handling equipment for civil and military helicopters. Onboard Systems is the “go-to” provider of cargo hook suspension systems, cargo hooks, Onboard Weighing Systems and remote equipment, and is factory installed on over 30 helicopter models serving over 1,000 original equipment and aftermarket customers.  Liberty Hall Capital Partners, in partnership with the company’s management team, acquired ownership of Onboard Systems in February 2019.  For more information, please visit http://www.onboardsystems.com/.