Vance Street Capital has signed a stock purchase agreement to sell two of its portfolio companies, Jet Parts Engineering and Victor Sierra Aviation, to TransDigm. The sale amounts to $2.2bn.
Seattle-based Jet Parts is an independent designer and manufacturer of aerospace aftermarket solutions, including proprietary OEM-alternative parts and repairs. The company serves commercial, regional, and cargo airline customers, as well as MRO providers.
Victor Sierra designs, manufactures, and distributes proprietary PMA and other aftermarket parts serving the commercial aerospace end market — primarily the general and business aviation sectors. The company has a collection of brands including McFarlane Aviation, Tempest Aero Group, and Aviation Products Systems. Victor Sierra is headquartered in Baldwin City.
“It has been a privilege to partner with Jet Parts and Victor Sierra,” said Nic Janneck, Partner at Vance Street. “Both organizations exist because of founders who built exceptional businesses, and that founder mindset has driven everything we've been successful in accomplishing together over the last 8 years.”
Harris Williams is acting as financial advisor and Paul Hastings is acting as primary legal advisor to Jet Parts, Victor Sierra and Vance Street.
Baker Hostetler is acting as legal advisor to TransDigm.