Seattle, WA – Jet Parts Engineering (JPE), a leading PMA parts and engineered repairs provider, today announced the acquisition of Northeast Aero Compressor (NEACO), a certified 145 repair station and industry leader specializing in the maintenance of complex pneumatic, hydraulic, fuel, and electro- mechanical systems while incorporating DER repair and PMA capabilities.
The acquisition of NEACO by JPE creates a diversified leader in PMA parts, DER repairs, and component repair/overhaul capabilities to offer a broad array of aftermarket services to their commercial, cargo, regional and military aircraft customers. JPE plans to invest significantly in NEACO’s Bohemia, NY facility to expand their technical resources and meet high market demands for aftermarket repairs.
“Jet Parts Engineering is thrilled to partner with NEACO and continue to deliver high quality solutions in the aftermarket. Linda and Mike Gibson have built a terrific team,” said Anu Goel, CEO of Jet Parts Engineering. “NEACO is a huge opportunity to add a highly complementary portfolio of component repairs to our existing PMA and DER offerings.”
NEACO was founded in 1989 with the mission of becoming a preeminent aerospace industry leader. For over three decades, NEACO has remained dedicated to continually building a knowledge base and new aviation capabilities. The team at NEACO have rigorously reviewed and audited their procedures over the years, ensuring their fast and accurate service exceeds the expectations set by their customers and the FAA.
The transaction was overseen by Vance Street Capital, a middle-market private equity firm focused on investing in highly engineered solutions businesses across the aerospace and defense, industrial, and medical markets. JPE is a Vance Street Capital portfolio company.
“The Gibson family built a valuable business founded on the principles that Vance Street prioritizes in all investments: customer-first attitude, high quality standards and humility,” said Nic Janneck, Partner at Vance Street. “We are excited to continue to support the JPE team on their fourth add-on under Vance Street ownership.”