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  • Monday, November 18, 2024

VSE Buys HAECO Unit to Expand Government Aircraft Support Portfolio; John Cuomo Quoted

VSE has purchased HAECO Americas’ special services business that offers maintenance, repair and overhaul support for government and military aircraft platforms in a cash deal of an undisclosed value.

HAECO Special Services currently helps maintain the U.S. Air Force’s KC-10 aircraft as a subcontractor under a Department of Defense contract and employs approximately 280 employees who work at two hangars located in Greensboro, North Carolina, VSE said Monday.

HSS aircraft maintainers have recorded 400,000 man-hours annually since 2015.

John Cuomo, president and CEO at VSE, said that HSS’ financial profile, backlog and contracting work complement the corporation’s federal and defense services segment.

Alexandria, Virginia-based VSE expects the purchase to grow its support work on government aircraft and sees the move as an opportunity to help the acquired business expand its role in fleet modernization and sustainment initiatives.

Jones Day and Jefferies served as VSE’s legal counsel and financial adviser on the acquisition, respectively, while Covington acted as HAECO’s legal counsel on the sale process.

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