LOAR GROUP INC.


Associated tags: Original equipment manufacturer, Loar, Tier 1, Aviation, VSE Corporation, Aerospace, Atmosphere, VSEC, Maintenance, Engineering, General Automotive, MRO, Energy, Airline, Jefferies Group, VSE, Supply Chain Management, Logistics, Contracts, Automotive, Transport, Air

VSE Corporation Completes Desser Aerospace Acquisition

Retrieved on: 
Monday, July 3, 2023
Automotive Manufacturing, Aerospace, Trucking, Manufacturing, Defense, Maritime, Air, Transport, Automotive, Other Defense, Contracts, Logistics, Supply Chain Management, Public Relations, Investor Relations, Alternative Energy, Energy, Communications, General Automotive, Engineering, Maintenance, Term loan, Atmosphere, Aviation, VSE Corporation, Jefferies Group, Acquisition, VSE, VSEC, MRO, Airline, Loar

VSE Corporation (NASDAQ: VSEC; “VSE”, or the “Company”), a leading provider of aftermarket distribution and maintenance, repair and overhaul (“MRO”) services for air, land and sea transportation assets for commercial and government markets, announced today it has closed its previously announced acquisition of Desser Holding Company LLC (“Desser Aerospace”), a global aftermarket solutions provider of specialty distribution and MRO services.

Key Points: 
  • VSE Corporation (NASDAQ: VSEC; “VSE”, or the “Company”), a leading provider of aftermarket distribution and maintenance, repair and overhaul (“MRO”) services for air, land and sea transportation assets for commercial and government markets, announced today it has closed its previously announced acquisition of Desser Holding Company LLC (“Desser Aerospace”), a global aftermarket solutions provider of specialty distribution and MRO services.
  • Concurrent with the purchase of Desser Aerospace, VSE sold Desser Aerospace’s Proprietary Solutions businesses to the Loar Group Inc. (“Loar”), a diversified manufacturer and supplier specializing in aerospace and defense.
  • “We are excited to officially welcome the talented Desser Aerospace team to our VSE Aviation business,” stated John Cuomo, President and CEO of VSE Corporation.
  • VSE acquired Desser Aerospace for a total cash consideration of $124 million, subject to customary working capital adjustments.

VSE Corporation Partners with The Loar Group to Acquire Desser Aerospace

Retrieved on: 
Thursday, May 4, 2023
Automotive, Other Policy Issues, Engineering, Contracts, Aerospace, Logistics, Supply Chain Management, Public Policy, Government, Manufacturing, General Automotive, Defense, Other Energy, Trucking, Consulting, Maritime, Other Automotive, Air, Energy, Transport, Professional Services, Fleet Management, Maintenance, Atmosphere, Brake, Aviation, VSE Corporation, Loar, Federal, Sale, Jefferies Group, Acquisition, Federal Civil Defense Administration, Wheel, VSE, United Kingdom, Growth, Aircraft maintenance, VSEC, Family, MRO, Airline

As the Company continues to build long-term, sustainable sources of profitable revenue, Aviation will be a key driver of growth for VSE.

Key Points: 
  • As the Company continues to build long-term, sustainable sources of profitable revenue, Aviation will be a key driver of growth for VSE.
  • Desser Aerospace is expected to expand and diversify the existing operations of the Aviation segment, driving continued, above-market growth.
  • Coupled with the acquisition of Desser Aerospace, VSE plans to immediately sell Desser Aerospace’s Proprietary Solutions businesses to the Loar Group Inc. (“Loar”), a diversified manufacturer and supplier specializing in aerospace and defense components.
  • “Upon closing the Desser Aerospace acquisition, we expect net leverage ratio to increase to approximately 4.5x.