✈️New Chapter 11 Bankruptcy Filing - AeroCision Parent LLC✈️

In the same week that Voyager Aviation Holdings LLC (coverage here) filed for bankruptcy citing challenges in the aerospace industry, we have another chapter 11 filer in the space.

On July 31, 2023, CT-based and Liberty Hall Capital Partners Fund-owned AeroCision Parent LLC and its affiliates AeroCision LLC and Numet Machining Techniques LLC (collectively, the “debtors”) filed prepackaged cases in the District of Delaware (Judge Owens). The debtors are part of an organization known as Bromford Group (hence the logo above), which supplies turbine engine and related components to major original equipment manufacturers like General Electric Aviation ($GE), Pratt & Whitney (a division of Raytheon Corp., $RTX) and Rolls-Royce Holdings (among three other large customers). The debtors’ components end up in engines for aircraft and other vehicles. Revenue for the twelve months ending 9/23 are projected at ~$63mm. Which is a big part of the problem.