JET PARTS ENGINEERING PARTNERS WITH VANCE STREET CAPITAL
Seattle, WA – Jet Parts Engineering (JPE), a leading PMA parts supplier and repair solutions provider, announced its recapitalization by Vance Street Capital LLC (Vance Street) today. JPE is partnering with Vance Street, A Los Angeles-based private equity firm that invests in middle-market businesses in aerospace, defense, medical and industrial sectors, as a strategy for growth. For over two decades, Vance Street’s partners have worked with management, family owners and other co-investors to accelerate revenue growth, improve operations and acquire assets for the companies in their investment portfolio.
“We are excited to partner with Vance Street as we look toward our next chapter of growth. Vance Street has a long track record in aerospace, understands our business model and has the resources to support our growth aspirations,” said Anu Goel, President of JPE. Mr. Goel will continue to lead the business in his current role and is retaining a material ownership position in the company.
“Vance Street is always looking to partner with successful entrepreneurs like Anu. Over the last 20 plus years, Anu and his team have built a great company known for its engineering expertise. With Vance Street’s additional support and capital, JPE will be able to invest in the business, expand its product and repair portfolio and continue to provide best-in-class services to its customers,” added Nic Janneck, Vice President at Vance Street.
“The JPE transaction embodies all of the key characteristics our firm looks for in a deal – the opportunity to partner with a world-class management team, a business with a strong position in a growing market, and a business model that is 100% proprietary and aftermarket,” said Richard Crowell, Managing Partner at Vance Street.
The transaction was led by Harris Williams & Co., a subsidiary of The PNC Financial Services Group, Inc. and preeminent middle market investment bank focused on the advisory needs of clients worldwide.