secwatch.observer — SEC 8-K summary
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Issuer:     VSE CORP (VSEC)
CIK:        0000102752
Form:       8-K
Filed at:   2023-05-05T23:59:59+00:00
Accession:  0000102752-23-000051
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

VSE to sell FDS business for up to $100M, acquire Desser Aerospace for net $94M
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- Sale of Federal & Defense Services (FDS) to Bernhard Capital Partners for up to $100M: $50M cash at close plus up to $50M earn-out.
- Acquisition of Desser Aerospace for ~$124M total cash; concurrent sale of Desser's propriety businesses to Loar Group for ~$30M, net ~$94M.
- FDS transaction expected to close late 2023 or early 2024; Desser acquisition expected within 90 days, subject to regulatory approvals including UK.
- Net proceeds from FDS sale to be used for debt reduction and strategic acquisitions.
- Desser is a distributor of aircraft interiors, tires, and batteries, expanding VSE Aviation's aftermarket parts offering.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/102752/000010275223000051/0000102752-23-000051-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/102752/000010275223000051/vsec-20230501.htm
  HTML page:      https://secwatch.observer/filing/0000102752-23-000051

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