A Quercus International team, led by Michael Mortimor and Tully Cornick, has advised the shareholders of Percival Aviation (“Percival” or the “Company”) on the sale of the business to Jet Parts Engineering (“JPE”), a Vance Street Capital-backed business.

Established in 1978, Percival is a trusted supplier to the aviation industry, specialising in aircraft interiors and associated equipment. The Company is executing a major growth strategy to expand internationally, aiming to become the supplier of choice for aircraft interiors worldwide.

JPE is a leader in PMA parts development, DER repairs, and MRO services for aircraft. The acquisition of Percival strengthens JPE's capabilities, allowing it to offer even more comprehensive solutions to meet the evolving needs of customers worldwide.

Together with transactions such as Serbus, Blue Bear, and Amazilia, this deal further highlights Quercus's exceptional expertise in the aerospace, defence, and security sectors.

Neil Percival, commented:

“I would like to extend my heartfelt thanks to Mike, Tully and Andrew from Quercus for guiding us through a successful divestment process.  My business was personal to me and Mike and the team remained sensitive to my feelings. It was very important to me that we found a good home for the business, and in JPE we have done just that. The whole M&A task was alien to me, but throughout I felt guided, assured and informed throughout.  I have only done this once, but I don’t think it’s possible that there are better advisers than Quercus.  I would have no hesitation to recommend Quercus for any M&A activity.”

Anu Goel, CEO of JPE, commented:

"Percival aligns with JPE’s mission to reduce airline aftermarket costs, and we are excited to collaborate with Chris Bench and his talented teams in the UK and US. Percival's expertise in aircraft interiors complements our existing services, enabling us to offer a broader range of high-quality competitively priced products and solutions to the industry. Their commitment to exceptional service and readily available inventory aligns perfectly with JPE's core values."

Chris Bench, CEO of Percival, commented:

"Today marks an exciting new chapter for Percival as we join forces with JPE. We are excited to leverage our combined strengths, drive innovation, and deliver even greater value to our customers and stakeholders. With both Percival and JPE’s regulatory approvals in place, this acquisition unlocks significant growth opportunities, and we look forward to the promising future we will build together."

Michael Mortimor, Quercus International, commented:

“We are deeply grateful to have been trusted by Neil Percival to advise on the sale of Percival. Under the leadership of Neil and Chris, Percival has grown into a leading partner for major airlines, combining deep expertise, proprietary capabilities and a strong portfolio of industry approvals and accreditations. In JPE, Percival has found the ideal strategic partner to drive its next phase of growth”.