M&A Deal Summary

Vance Street Capital, Lexington Partners and NB Private Equity Partners Acquire Jet Parts Engineering

On July 30, 2018, private equity firm Vance Street Capital, private equity firm Lexington Partners and asset manager NB Private Equity Partners acquired aerospace company Jet Parts Engineering

Acquisition Highlights
  • This is Vance Street Capital’s 6th, Lexington Partners’ 1st and NB Private Equity Partners’ 1st transaction in the Aerospace sector.
  • This is Vance Street Capital’s 10th, Lexington Partners’ 6th and NB Private Equity Partners’ 10th transaction in the United States.
  • This is Vance Street Capital’s 1st, Lexington Partners’ 1st and NB Private Equity Partners’ 1st transaction in Washington.

M&A Deal Summary
Date 2018-07-30
Target Jet Parts Engineering
Sector Aerospace
Buyer(s) Vance Street Capital
Lexington Partners
NB Private Equity Partners
Deal Type Recapitalization
Advisor(s) Harris Williams & Co. (Financial)
Perkins Coie (Legal)

Target

Jet Parts Engineering

Seattle, Washington, United States
Jet Parts Engineering is a designer of proprietary OEM-alternative parts and repair services for the commercial aerospace industry. JPE provides proprietary aftermarket replacement components, known as Parts Manufacturing Approval (“PMA”) and complementary proprietary component repair services, known as Designated Engineering Representative (“DER”) repairs. JPE’s PMA parts and DER repairs deliver significant cost savings to its commercial airline and MRO customers. Jet Parts Engineering was founded in 1994 and is based Seattle, Washington.

Search 200,500 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 3

Buyer

Vance Street Capital

Pacific Palisades, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2007
Size Small
Type Sector Focused
DESCRIPTION

Vance Street Capital is a private equity firm focused on acquiring mid-market, profitable businesses in the aerospace, defense, industrial, and medical technology sectors. Vance Street looks for companies valued from $30 to $350 million with sustainable competitive advantages and proven management. Prospective transaction situations include recapitalizations, management buyouts, corporate divestitures, industry consolidations, and growth capital financings. Vance Street Capital was formed in 2007 and is based in Los Angeles, California.

DEAL STATS #
Overall 13 of 29
Sector (Aerospace) 6 of 7
Type (Recapitalization) 1 of 1
State (Washington) 1 of 1
Country (United States) 10 of 24
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-24 Fermatex Vascular Technologies

Newark, Delaware, United States

Fermatex Vascular Technologies designs and manufactures highly engineered medical extrusions, braid reinforced extrusions and catheter sub-assemblies for many of the world’s leading medical device OEMS. The company was a pioneer in the contract design and manufacture of medical devices and has been providing extrusions to the medical device industry for more than 55 years.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-31 Applied Plastics

Norwood, Massachusetts, United States

Applied Plastics is an advanced coatings provider to the medical end markets. Applied provides specialty PTFE coatings on wires and other metal-based components for the medical device industry, with a primary emphasis on the advanced catheter market. Applied Plastics was founded in 1953 and is based in Norwood, Massachusetts.

Buy -
Buyer

Lexington Partners

New York, New York, United States
Category Private Equity Firm
Founded 1994
PE ASSETS 55.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Lexington Partners is a private investment firm with approximately $33 billion in committed capital for private equity investing. Lexington Partners focuses its activity on secondary investments, equity co-investments, and fund investments. Lexington's primary business is its secondary private equity group, which seeks to provide liquidity for private equity fund interests. Lexington's co-investment group looks to invest $10 to $100 million alongside private equity sponsors in a variety of sectors. Lexington Partners was formed in 1994 and is based in New York City.

DEAL STATS #
Overall 8 of 9
Sector (Aerospace) 1 of 1
Type (Recapitalization) 1 of 1
State (Washington) 1 of 1
Country (United States) 6 of 6
Year (2018) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-14 Mec3

Rimini, Italy

Mec3 is a developer, manufacturer and marketer of ingredients for gelato, pastry and other foods. Mec3 was founded in 1984 and is based in Rimini, Italy.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-05 Knight Square Holdings

New Milton, United Kingdom

Knight Square Holdings is a provider of property management solutions. Knight Square Holdings was founded in 1995 and is based in New Milton, United Kingdom.

Buy £21M
Buyer

NB Private Equity Partners

Investor Investor Investor Investor Investor

Category Asset Manager
Size Large
Type Sector Agnostic
DESCRIPTION

NB Private Equity Partners is a publicly traded asset manager focused on acquiring direct investments in privately held companies. The Firm principally targets businesses in the US and looks to invest alongside other private equity managers when considering opportunities. NB Private Equity Partners is headquartered in the UK, with an additional office in the US.

DEAL STATS #
Overall 16 of 27
Sector (Aerospace) 1 of 1
Type (Recapitalization) 3 of 4
State (Washington) 1 of 1
Country (United States) 10 of 15
Year (2018) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-22 GFL Environmental

Vaughan, Ontario, Canada

GFL Environmental is a diversified environmental services company providing a comprehensive line of solid waste, infrastructure & soil remediation, and liquid waste management services through its platform of facilities across Canada and in Southeastern Michigan. GFL has a workforce of more than 5,000 employees and provides its broad range of environmental services to more than 60,000 commercial and industrial customers and its solid waste collection services to more than 2.5 million households. GFL Environmental was founded in 2007 and is based in Vaughan, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-13 BeyondTrust

Johns Creek, Georgia, United States

BeyondTrust is a provider of Privileged Access Management (PAM) software solutions, empowering organizations to secure and manage privileges across passwords, endpoints, and access while enhancing control and visibility. BeyondTrust was founded in 1985 and is based in Johns Creek, Georgia.

Buy -
Mergr

Product

Company

Legal