NP Aerospace acquires Jankel Armouring assets following bankruptcy filing.

On June 10, 2024, NP Aerospace, a British company specializing in vehicle integration and armor manufacturing, announced the acquisition of select assets from Jankel Armouring Limited, which entered bankruptcy on February 27, 2024. This strategic acquisition, approved under the UK National Security and Investment Act (NSIA), includes Jankel Armouring’s intellectual property, patents, inventory, and existing contracts.
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This strategic acquisition allows NP Aerospace to integrate Jankel's tactical vehicles, civilian armored vehicles (CAVs), armor technologies, seating systems, and through-life support services into its existing portfolio. (Picture source: NP Aerospace)

NP Aerospace is a manufacturer and integrator of advanced armor systems and composite structures. With over 90 years of experience, the British company specializes in producing high-strength, lightweight, and fatigue-resistant products using various materials. NP Aerospace’s portfolio includes ballistic helmets, body armor, vehicle protection systems, and advanced composites for multiple applications. The company serves military forces, law enforcement, and commercial sectors, providing solutions to enhance security and resilience in high-threat environments.

This strategic acquisition allows NP Aerospace to integrate Jankel's tactical vehicles, civilian armored vehicles (CAVs), armor technologies, seating systems, and through-life support services into its existing portfolio. Therefore, Jankel’s portfolio of tactical and civilian armored vehicles, along with their armor technologies and seating systems, now complements NP Aerospace’s existing offerings. This strengthens its position in the global defense market by enhancing its vehicle production capabilities and expanding its support services. Additionally, acquiring Jankel’s intellectual property and ongoing contracts enables NP Aerospace to offer a wider range of products, maintain continuity for Jankel's customers, such as the Belgian and UK Ministries of Defence, and leverage synergies to drive further growth.

James Kempston, CEO of NP Aerospace, stated that this acquisition represents a growth phase for the company and aims to add value through new business synergies. The immediate priority is to advance with existing customer contracts and deliver successful programs to a global customer base. This development is expected to support the defense industry by maintaining capability and supply while enhancing NP Aerospace’s global defense export line.

The acquisition is anticipated to create and sustain approximately 60-70 skilled jobs, with NP Aerospace retaining key talent from Jankel Armouring Limited, including pivotal engineers and critical executives. The transaction does not include any assets or formal relationships with the US-based Jankel business, including Jankel Tactical Systems, and does not entail any liabilities to former creditors. Mike Denny, Joint Administrator from Alvarez & Marsal Europe LLP, indicated that the sale of Jankel Armouring’s assets to NP Aerospace is expected to provide continuity for its customer base and create new opportunities for its skilled workforce. The business is anticipated to operate under NP Aerospace’s ownership.

Jankel Armouring Limited, a manufacturer of armored vehicles and protection systems, entered administration on February 27, 2024. The company faced significant financial challenges leading to its insolvency. Administrators from Alvarez & Marsal Europe LLP, specifically Michael Denny and Mark Firmin, were appointed to manage the process. The situation was a result of various pressures, including market conditions and financial strains, which necessitated the company's restructuring and eventual sale of its assets.

The bankruptcy of Jankel Armouring Limited significantly impacted the Belgian Army's Special Forces, particularly regarding their Light Tactical Transport Vehicle (LTTV) program. Jankel had been contracted to deliver 199 LTTVs to the Belgian Ministry of Defence (MoD) to replace their aging Unimog vehicles used by Special Operations Forces. The LTTVs were designed to be modular and configurable, featuring removable mission modules for various roles, including troop transport, logistics, and medical evacuation.

Due to the bankruptcy, the completion of the order became uncertain, raising concerns about the delivery and future support for these vehicles. Although the Belgian Army had already received part of the order, Jankel's financial instability threatened the fulfillment of the remaining vehicles, leaving 87 Unimog U5000-based Wolf LTTVs undelivered for the Belgian Special Operations Regiment. This situation required the Belgian Ministry of Defence to potentially seek alternative solutions or suppliers to ensure the continued operational capability of their special forces units. However, the acquisition by NP Aerospace offers a potential resolution to these issues, providing continuity and expertise to fulfill existing contracts and support ongoing defense programs.