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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.