Gil Henry started a company he wanted to call "HECO" (Henry Engineering Company), but the name was already in use, so being on Victory street, he came up with Veco instead. Long story short. May not be totally accurate, but close enough for the name. Also, most of the early Veco engines were made by K&B and were almost identical in external appearance.
Here's a link with a little history. https://rcbookcase.com/data/media/22/Veco_Catalog_1963.pdfNot sure about your "made by K & B" comment. Veco (Henry Engineering) was heavily influenced by Clarence Lee and Bob palmer. The Veco engines had a full height casting including cyl fins with a drop in cylinder liner. K & B's had a bolt on steel liner