VSE Corporation partners with The Loar Group to acquire Desser Aerospace
Client(s) VSE Corporation
Jones Day advised VSE Corporation (NASDAQ: VSEC) ("VSE") in its acquisition (the "Acquisition") of Desser Aerospace ("Desser") for a purchase price of $124 million. Desser is an aftermarket solutions provider offering proprietary solutions, specialty distribution, and maintenance, repair and operations services to a customer base spanning all segments of the aviation industry, including commercial aviation, business and general aviation, and military aftermarket segments.
Concurrently, VSE sold four of Desser's subsidiaries (the "Spin-Off"), which collectively constitute Desser’s proprietary solutions business, to Loar Group, Inc., an acquisition platform in the aerospace and defense markets, for a purchase price of $30 million.
Jones Day also advised VSE Corporation on its $90 million incremental term loan facility to finance the acquisition of Desser Holding Company LLC.