Jet Parts Engineering (JPE) has extended its partnership with Vance Street Capital (Vance Street), a Los Angeles based private equity firm, via a single-asset secondary transaction. The transaction creates a continuation fund with new capital to support Jet Parts Engineering organic growth initiatives and acquisition strategy.
Vance Street originally invested in JPE in July 2018, and since then the company has accelerated its pace of new product introductions, developed new proprietary repair capabilities, invested in cutting edge infrastructure and systems, built out a talented management team and successfully completed four add-on acquisitions.
"Vance Street has been a fantastic growth partner for our company," said Anu Goel, Founder and CEO of Jet Parts Engineering. "They shared our long-term strategic vision and invested accordingly; through our partnership with Vance Street, we are now a full service provider to the industry combining the strengths of PMA, DER and MRO to offer our customers a compelling value proposition. We are very pleased to be able to continue working closely with the Vance Street team during our next chapter of growth."
Brian Martin, Managing Partner at Vance Street, added: "We are very excited to announce this transaction. It allows us to deliver an outstanding outcome to our investors while extending our investment in a great company led by a great team."
"Jet Parts is well positioned to continue its impressive growth trajectory," said Nic Janneck, Partner at Vance Street. “We're excited to expand the Company's proprietary parts catalogue, develop new capabilities, and make strategic acquisitions to continue to build this leading aftermarket platform.”