VSE said Monday the divestment move would allow the company to reposition itself into two businesses that offer distribution and maintenance, repair and overhaul service.
BCP, a private equity management firm focused on the services and infrastructure markets, agreed to pay $50 million in upfront cash and $50 million in financial milestone payments.
John Cuomo, president and CEO of VSE, noted the company is looking to focus its efforts on “high-growth, high-margin business opportunities” and increase the company’s exposure across the aviation and fleet aftermarket sector.
Alexandria, Virginia-based VSE will use proceeds from the sale to implement its acquisition strategy and reduce borrowing activity.
Both parties expect to close the transaction later this year or in early 2024.
Jones Day and Jefferies served as VSE’s legal counsel and exclusive financial adviser, respectively.
Kevin Orr, president of RSA Federal, said the current cybersecurity landscape requires government agencies to adopt passwordless authentication to protect…
Lockheed Martin has secured a $1.14 billion modification to an existing advanced acquisition contract to procure additional long-lead materials, parts…
Boeing has finalized the acquisition of Spirit AeroSystems to reinforce aviation safety and aircraft quality while supporting stability across Boeing’s commercial production…
The Department of State has named the eight companies that have secured indefinite-delivery/indefinite-quantity contracts to provide facility operations and maintenance…
