This phrase is used as a compliment for someone who is good at fixing things, and has a broad selection of different skills and accompanying knowledge. Used to describe a useful generalist person.
This can be about someone’s skills in “integration” – i.e. they enough from many learned practices and skills to be able to bring the disciplines together in a practical manner.
This “Jack of all trades” phrase is a nicer, adapted version of the original “Jack of all trades, master of none” which is more deragatory.