Jet Parts Engineering, a portfolio company of Vance Street Capital, has bought Northeast Aero Compressor, a component repair business.
With Northeast focused on what it said was “complex pneumatic, hydraulic and electro-mechanical parts in commercial and cargo aircraft”, the purchase will enable Jet Parts to broaden its range of services to customers across cargo, commercial and military aviation.
Jet Parts founder Anu Goel said the acquisition would “add a highly complementary portfolio of component repairs”.
According to a press statement about the deal, Vedder Price acted as legal advisor to Vance Street Capital, while Campolo, Middleton & McCormick served as legal advisor to NEACO, with debt financing for the transaction, the terms of which were not published, was provided by Neuberger Berman.
