By Colin Kellaher
VSE has signed a deal to sell Wheeler Fleet Solutions, its fleet business segment, to private-equity firm One Equity Partners for up to $230 million.
VSE on Tuesday said the sale of Wheeler, a part distributor and engineering solutions provider servicing the medium- and heavy-duty fleet market, completes the Miramar, Fla., company's transformation into a pure-play aviation aftermarket parts and services provider.
VSE said the deal, slated to close in the second quarter, includes a $140 million cash payment at closing, a $25 million seller note and up to $65 million in additional contingent earnout consideration.
VSE last year shelled out more than $300 million to buy Kellstrom Aerospace, a distributor and service provider supporting the commercial aerospace engine aftermarket, and Turbine Controls, a provider of aviation aftermarket maintenance, repair and overhaul support services. The company also sold its federal and defense segment.
New York middle-market private-equity firm One Equity Partners focuses on the industrial, healthcare and technology sectors in North America and Europe.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
February 18, 2025 11:20 ET (16:20 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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