VSE (Nasdaq: VSEC) has purchased global aftermarket components distributor Desser Aerospace for $124 million in cash as part of efforts to diversify its aviation segment.
The Alexandria, Virginia-based defense contractor said Monday it also concluded the $30 million sale of Desser Aerospace’s Seginus Aerospace, AOG Aviation Spares and DAC Engineered Products subsidiaries to aerospace and defense components provider Loar Group.
VSE announced in May the deal to acquire Desser Aerospace, which offers component maintenance, repair and overhaul services to customers in the U.S., the U.K. and Australia.
John Cuomo, president and CEO of VSE, said adding Desser Aerospace’s distribution and repair capabilities to the company’s aftermarket business broadens its product portfolio and expands its reach into international markets.
Jones Day acted as legal counsel to VSE while Jefferies served as financial adviser to Desser Aerospace in the transaction.
