Private equity firm Vance Street Capital has signed a binding stock purchase agreement to sell two of its portfolio companies, Jet Parts Engineering and Victor Sierra Aviation Holdings, to TransDigm Group Incorporated, a global producer of highly engineered aerospace components, for $2.2 billion.

Victor Sierra, headquartered in Baldwin City, Kansas, is a designer, manufacturer and distributor of proprietary PMA and other aftermarket parts serving the commercial aerospace end market, primarily the general and business aviation sectors. VSA is a leading collection of brands including McFarlane Aviation, Tempest Aero Group and their respective affiliated brands, as well as Aviation Products Systems. VSA offers a complete line of highly engineered PMA, custom design and OEM products, as well as service and repair stations.

Jet Parts, headquartered in Seattle, Washington, is a leading independent designer and manufacturer of aerospace aftermarket solutions, including proprietary OEM-alternative parts and repairs. JPE serves commercial, regional and cargo airline customers, as well as MRO providers. JPE's products are highly engineered, proprietary PMA components utilised across major commercial aerospace platforms.

Vance Street's investments in Jet Parts and Victor Sierra align closely on business model and strategy. Vance Street partnered with the original founder of each business in 2018 and 2021, respectively, to build the foundation of people, processes and systems needed to enable transformational growth. A significant focus was placed on broadening each company's complementary portfolio of IP, specialised parts and repair services by investing in engineering resources and human talent, facilities and technical capabilities.

“It has been a privilege to partner with Jet Parts and Victor Sierra. Both organisations 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 eight years,” says Nic Janneck, partner at Vance Street. “We want to thank every member of the Jet Parts and Victor Sierra teams for their hard work and, more importantly, for putting their trust in us.”

“Jet Parts and Victor Sierra were built on a foundational commitment to solving engineering problems for their customers,” adds Will Robinson and Nick Lindholm, vice presidents at Vance Street. “Maintaining that focus has driven their exceptional growth, success and reputation in the aftermarket.”

“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 specialised, engineered products make it an ideal home for our businesses,” states Scott Still, CEO of Victor Sierra.

The two companies collectively generated approximately $280 million in revenue for the calendar year ended December 2025.

Mike Lisman, TransDigm's chief executive officer, remarks: “We are excited to have an agreement to acquire Jet Parts Engineering and Victor Sierra, two well run, profitable businesses that will fit well within TransDigm. The companies' highly engineered, proprietary OEM-alternative parts and services generate nearly 100 per cent commercial aftermarket revenue. These businesses offer a unique value proposition to their airline, business and general aviation end user customers as an alternative to OEM parts and are each growing nicely. We will continue to offer this unique value proposition to customers and grow both companies under TransDigm ownership, where they will operate independently, consistent with our long-term approach to running our businesses. We look forward to working with and continuing to support the companies' customers. As with all TransDigm acquisitions, we expect these acquisitions to create equity value in-line with our long-term private equity-like return objectives.”

Nick Howley, TransDigm's chairman concludes: “This is a natural progression for TransDigm. We have had a long-term and sizeable PMA effort within our existing operating units. Since the formation of TransDigm, we have regularly used our uniquely broad aerospace engineering and market knowledge to design and offer our aftermarket customers a range of well engineered products that provide a mix of improved life, superior performance and other benefits. Both Jet Parts Engineering and Victor Sierra are good businesses that align well with our model.”