The Business Magazine - B2B Business News - Site Logo

Warning: Undefined array key "tbm_visit_edition_me" in /home/970822.cloudwaysapps.com/utkbfqnuhr/public_html/wp-content/plugins/oxygen/component-framework/components/classes/code-block.class.php(133) : eval()'d code on line 27
The Business Magazine - B2B Business News - Site Logo
The Business Magazine May 2024
Read now
PICK YOUR EDITION

NP Aerospace acquires assets of Jankel Armouring Limited

The Business Magazine article image for: NP Aerospace acquires assets of Jankel Armouring Limited
Screenshot
11 June 2024
Screenshot

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”.


Share 

Nicky Godding is editor of The Business Magazine. Before her journalism career, she worked mainly in public relations moving into writing when she was invited to launch Retail Watch, a publication covering retail and real estate across Europe.

After some years of constant travelling, she tucked away her passport and concentrated on business writing, co-founding a successful regional business magazine. She has interviewed some of the UK’s most successful entrepreneurs who have built multi-million-pound businesses and reported on many science and technology firsts.

She reports on the region’s thriving business economy from start-ups, family businesses and multi-million-pound corporations, to the professionals that support their growth and the institutions that educate the next generation of business leaders.

Latest deal ticket

All deals
  • FemtoTools (Switzerland)
    is to be acquired by
    Oxford Instruments (Oxfordshire)
    June 2024
    £21.2m
    Who's behind the deal?
  • Fire and air compliance firm RJ Urmson Group (Lancashire)
    has been acquired by
    HSL Compliance (West Midlands)
    June 2024
    UNDISCLOSED
    Who's behind the deal?
  • The fixed assets and stock of Russell Ductile Castings Ltd (West Midlands)
    have been bought from administrators by
    Castings PLC (West Midlands)
    June 2024
    £400,000
    Who's behind the deal?

Events

All events

Related news


Group Titles

Dorset BIZ NewsHampshire BIZ News
cross