Jet Parts Engineering (JPE) has announced the acquisition of Northeast Aero Compressor (NEACO) with plans to invest significantly in its Bohemia, New York facility to expand technical resources and meet high market demands for aftermarket repairs.
According to JPE, the acquisition of NEACO creates a diversified leader in PMA parts, DER repairs, and component repair/overhaul capabilities to offer a broad array of aftermarket services to commercial, cargo, regional and military aircraft customers. The transaction was overseen by middle-market private equity firm Vance Street Capital.
Anu Goel, CEO of Jet Parts Engineering, said: “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. NEACO is a huge opportunity to add a highly complementary portfolio of component repairs to our existing PMA and DER offerings.”
Nic Janneck, Partner at Vance Street, added: “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. We are excited to continue to support the JPE team on their fourth add-on under Vance Street ownership.”