Harris Williams Advises Jet Parts Engineering, Inc. on its Recapitalization by Vance Street Capital

July 30, 2018

Harris Williams, a preeminent middle market investment bank focused on the advisory needs of clients worldwide for more than 25 years, announces that it advised Jet Parts Engineering, Inc. (JPE) on its recapitalization by Vance Street Capital (Vance Street). JPE’s current management team is partnering with Vance Street as the company enters its next phase of growth. JPE is a leading independent provider of OEM alternative parts and repair solutions to the commercial aerospace industry, offering both proprietary aftermarket replacement parts (Parts Manufacturing Approval or PMA parts) and proprietary component repairs. JPE serves as a trusted partner helping airlines and maintenance, repair and overhaul providers (MROs) reduce the cost of aircraft operations and upkeep. The transaction was led by Doug Kinard, Chris Rogers and David Jones of Harris Williams’ Aerospace, Defense & Government Services (ADG) Group and Dan Savage of the firm’s Richmond office.

“Anu Goel and the JPE team have built a truly unique commercial aerospace aftermarket focused platform with one of the largest portfolios of PMA parts in the industry, offering significant cost savings to the company’s leading airline and MRO customers,” said Doug Kinard, a director at Harris Williams. “We are honored to have represented the team in finding a partner to continue building the company’s impressive growth.”

“In today’s market, both financial and strategic acquirers are aggressively pursuing companies that provide differentiated product and service solutions into the commercial aerospace aftermarket,” said Chris Rogers, a managing director at Harris Williams. “These dynamics and the strength of the current M&A market are providing shareholders with exceptionally attractive choices. And it is fantastic to see JPE choosing to partner with a proven aerospace investor like Vance Street for the next chapter in their platform’s growth story.” 

JPE is a recognized leader in the development of PMA parts for commercial aircraft and is devoted to providing a better spare parts solution to a worldwide network of airline and MRO partners. JPE’s priority is to help customers battle their increasing costs of maintenance with economically-priced spare parts, greatly reduced lead times and excellent customer service, all without sacrificing outstanding quality.

“JPE’s value proposition to customers is reflected in the company’s strong momentum and outlook in the marketplace,” added David Jones, a vice president at Harris Williams. “We look forward to watching JPE’s continued success unfold and accelerate alongside the Vance Street team.”

Vance Street is a Los Angeles-based private equity firm that makes control investments in companies with enterprise values up to $200 million. Vance Street acquires and builds engineered solutions companies in the aerospace, defense, medical and industrial end markets. The firm focuses primarily on partnering with entrepreneurs, who have built excellent companies, and transforming those companies into larger strategic assets.  Over the past three decades, the partners at Vance Street have acquired and built over 100 companies in these industries.

Harris Williams (www.harriswilliams.com), a subsidiary of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide.  The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence.  Harris Williams provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.

Harris Williams’ ADG Group offers strategic advice to a global base of leading aerospace, defense and government services clients. For more information on the ADG Group and other recent transactions, visit the ADG Group’s section of the Harris Williams website. 

Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.