Vance Street Capital LLC recapitalized Seattle-based Jet Parts Engineering Inc. through the Los Angeles-based firm's second private equity fund.

Anu Goel will remain president of Jet Parts and keep a material ownership stake in the company. Jet Parts designs proprietary original equipment manufacturer-alternative parts and repair services for the commercial aerospace sector.

MLC, Lexington Partners, Neuberger Berman and Private Advisors co-invested equity alongside Vance Street in the transaction.

Vedder Price LLP was legal adviser to Vance Street, which backs middle-market businesses in the aerospace, defense, medical and industrial sectors. Neuberger Berman provided senior debt.

Harris Williams & Co. and Perkins Coie LLP were financial and legal advisers to Jet Parts.