NP Aerospace, the global vehicle integrator and armour manufacturer, has today announced the acquisition of certain assets of Jankel Armouring Limited – in administration.
Jankel Armouring Limited 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, assign and/or novate 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.
Having received UK National Security and Investment Act (NSIA) approval, NP Aerospace can formally engage with key customers, including the Belgian MoD (BeMOD) and UK Ministry of Defence (UK MoD) regarding the delivery of former Jankel Armouring Limited contracts. With an existing pedigree of successful defence vehicle production, integration and support activities, NP Aerospace is ideally positioned to deliver on customer requirements, bringing production programs through to successful conclusion, onshore in the UK.
NP Aerospace has been successful in securing talent from the original Jankel Armouring Limited staff including pivotal engineers and critical executives with the required knowledge of the acquired assets. In addition, 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, commented: “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, commented: “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”.