NP Aerospace, the worldwide automobile integrator and armour producer, has as we speak introduced the acquisition of sure belongings of Jankel Armouring Restricted – in administration.
Jankel Armouring Restricted entered administration on 27 February 2024 and Alvarez & Marsal Europe LLP had been appointed as Directors. NP Aerospace has now acquired belongings which embody Jankel Armouring Restricted’s mental property, patents and stock and the suitable to switch, assign and/or novate current contracts. The acquisition will permit NP Aerospace to combine a globally confirmed and profitable automobile product and help line into their already robust portfolio, which is able to now embody Jankel Armouring Restricted’s tactical automobiles, civilian armoured automobiles (CAVs), armour applied sciences, seating techniques and thru life help providers.
Having acquired UK Nationwide Safety and Funding Act (NSIA) approval, NP Aerospace can formally have interaction with key prospects, together with the Belgian MoD (BeMOD) and UK Ministry of Defence (UK MoD) concerning the supply of former Jankel Armouring Restricted contracts. With an current pedigree of profitable defence automobile manufacturing, integration and help actions, NP Aerospace is ideally positioned to ship on buyer necessities, bringing manufacturing packages via to profitable conclusion, onshore within the UK.
NP Aerospace has been profitable in securing expertise from the unique Jankel Armouring Restricted employees together with pivotal engineers and significant executives with the required information of the acquired belongings. As well as, it’s anticipated that the acquisition will create and/or maintain round 60-70 expert jobs. The acquisition doesn’t embody any facet of, or formal relationship with the US primarily based Jankel enterprise, together with Jankel Tactical Programs and doesn’t embody any legal responsibility to former collectors, which sits within the arms of the joint directors, Alvarez and Marsal.
James Kempston, NP Aerospace CEO, commented: “The announcement of the acquisition of Jankel Armouring Restricted’s belongings marks a major part of progress for the corporate, creating further worth for purchasers via new enterprise synergies.” He added: “Our rapid precedence is to push ahead with current buyer contracts and ship profitable programmes to a worldwide buyer base. Past that, this announcement is nice information for the defence business, enabling continuation of functionality, merchandise and provide, while enhancing a really robust international defence export line, beneath the NP Aerospace model”.
Mike Denny, Joint Administrator, Alvarez & Marsal Europe LLP, commented: “The completion of the sale of sure belongings of Jankel Armouring Restricted to NP Aerospace will present continuity to its buyer base and create new alternatives for a few of its expert workforce. We’re assured that the enterprise will thrive beneath the possession of NP Aerospace”.
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