NP Aerospace acquires assets of Jankel Armouring Limited
NP Aerospace, the Coventry-based vehicle integrator and armour manufacturer, has acquired certain assets of Jankel Armouring Limited – in administration.
Jankel Armouring Limited, based in Brighton, entered administration on 27 February 2024 and Alvarez & Marsal Europe LLP were appointed as Administrators.
NP Aerospace has now acquired assets which include Jankel Armouring Limited’s intellectual property, patents and inventory and the right to transfer existing contracts. The acquisition will allow NP Aerospace to integrate a globally proven and successful vehicle product and support line into their already strong portfolio, which will now include Jankel Armouring Limited’s tactical vehicles, civilian armoured vehicles (CAVs), armour technologies, seating systems and through life support services.
NP Aerospace has also recruited Jankel Armouring Limited engineers and critical executives with the required knowledge of the acquired assets.
It is expected that the acquisition will create and/or sustain around 60-70 skilled jobs. The acquisition does not include any aspect of, or formal relationship with the US based Jankel business, including Jankel Tactical Systems and does not include any liability to former creditors, which sits in the hands of the joint administrators, Alvarez and Marsal.
James Kempston, NP Aerospace CEO,said: “The announcement of the acquisition of Jankel Armouring Limited’s assets marks a significant phase of growth for the company, creating additional value for customers through new business synergies.”
He added: “Our immediate priority is to push forward with existing customer contracts and deliver successful programmes to a global customer base. Beyond that, this announcement is good news for the defence industry, enabling continuation of capability, products and supply, whilst enhancing a very strong global defence export line, under the NP Aerospace brand”.
Mike Denny, Joint Administrator, Alvarez & Marsal Europe LLP, said: “The completion of the sale of certain assets of Jankel Armouring Limited to NP Aerospace will provide continuity to its customer base and create new opportunities for some of its skilled workforce. We are confident that the business will thrive under the ownership of NP Aerospace”.
