Vance Street Capital announced it has signed a binding stock purchase agreement to sell two portfolio companies—Jet Parts Engineering (Jet Parts) and Victor Sierra Aviation Holdings (Victor Sierra)—to TransDigm Group for $2.2 billion. The transaction combines two independent aerospace aftermarket platforms focused on proprietary parts, repairs, and engineering-driven solutions across commercial and general/business aviation markets.
Jet Parts, headquartered in Seattle, is an independent designer and manufacturer of aerospace aftermarket solutions, including proprietary OEM-alternative parts and repairs used by commercial, regional, and cargo airlines and by MRO providers. The company develops and supplies proprietary Parts Manufacturer Approval (PMA) components deployed across major commercial aerospace platforms.
Victor Sierra, headquartered in Baldwin City, Kansas, designs, manufactures, and distributes proprietary PMA and other aftermarket parts primarily serving the general and business aviation end markets. The platform includes a collection of brands such as McFarlane Aviation and Tempest Aero Group, along with affiliated brands and Aviation Products Systems, and also operates service and repair stations.
Vance Street said its ownership periods began with partnerships alongside each business’s original founder in 2018 (Jet Parts) and 2021 (Victor Sierra). The firm said its value-creation efforts centered on building out people, processes, and systems to support growth, while expanding each company’s intellectual property, specialized parts, and repair-service portfolios through investment in engineering resources, talent, facilities, and technical capabilities.
TransDigm, a global producer of highly engineered aerospace components, supplies aircraft parts and systems used across commercial and military fleets. The company’s portfolio spans a wide range of components and subsystems, from actuation and ignition to pumps, valves, motors, generators, safety restraints, and specialized electronics.
Support: Harris Williams is serving as financial advisor, and Paul Hastings as primary legal advisor, to Jet Parts, Victor Sierra, and Vance Street. Baker Hostetler is acting as legal advisor to TransDigm.
KEY QUOTES:
“It has been a privilege to partner with Jet Parts and Victor Sierra. 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.”
Nic Janneck, Partner, Vance Street Capital
“Jet Parts and Victor Sierra were built on a foundational commitment to solving engineering problems for their customers. Maintaining that focus has driven their exceptional growth, success and reputation in the aftermarket.”
Will Robinson and Nick Lindholm, Vice Presidents, Vance Street Capital
“We look forward to joining TransDigm and believe this transaction further positions our companies well for long-term success. TransDigm’s deep aerospace expertise, operating philosophy and focus on highly specialized, engineered products make it an ideal home for our businesses.”
Scott Still, CEO, Victor Sierra
“Vance Street was fully aligned with our team on strategy and enabled us to significantly expand our footprint, breadth of products, brands and engineering capacity to keep our customers flying. Their strategic vision, support and resources have been integral to our development, all while maintaining the entrepreneurial culture that our employees have built over several decades.”
Anu Goel, CEO and Founder, Jet Parts
“Jet Parts’ core philosophy, ‘Our people are the best part,’ is a fitting reflection of the talent and culture across both organizations.”
Brian Martin and Mike Janish, Managing Partners, Vance Street Capital
