Jet Parts Engineering has acquired Northeast Aero Compressor (NEACO).
NEACO is a certified 145 repair station and specialises in the maintenance of complex pneumatic, hydraulic, fuel, and electromechanical systems while incorporating DER repair and PMA capabilities.
Jet Parts Engineering is a PMA parts and engineered repairs provider. The company said it planned to invest “significantly” in NEACO’s Bohemia, New York, US facility to expand its 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 Jet Parts Engineering’s CEO Anu Goel. “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. The transaction was overseen by Vance Street Capital, a middle-market private equity firm. Jet Parts Engineering is a Vance Street Capital portfolio company.
“The Gibson family built a valuable business founded on the principles that Vance Street prioritises 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.”