Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, December 13, 2024

Article Excerpt

VSE CORP., $108.21, symbol VSEC on Nasdaq, provides aftermarket distribution and repair services through its two operating segments: Aviation (74% of revenue) and Fleet (26%). The Aviation unit provides aftermarket parts, distribution and maintenance, repair, and overhaul (MRO) services. The Fleet unit specializes in parts distribution, engineering solutions, and supply chain management services for medium and heavy-duty fleets. On May 14, 2024, VSE went public, selling 2.11 million shares for $71 each. On December 3, 2024, the company announced that it had completed its acquisition of Kellstrom Aerospace Group Inc. The seller was AE Industrial Partners LP, a private equity firm specializing in national security, aerospace, and industrial services. The purchase price was $200 million. Kellstrom is a full-service aftermarket solutions provider of value-added distribution and technical services for the commercial aerospace engine aftermarket. In the three months ended September 30, 2024, the company’s revenue was $273.6 million, up 18.3% from $231.4 million a year earlier. Revenue in the Aviation segment jumped 33.7% due to…