VSE closes $120M acquisition of Turbine Controls, Inc.

VSE CORP

Total consideration approx. $120M: $110M cash + $10M VSEC common shares, subject to working capital adjustments.
Adds engine component and accessory repair capabilities, new OEM authorizations, and strengthens VSE Aviation's MRO strategy.
TCI is a 45-year-old provider of aftermarket repair and overhaul for engine components and airframe accessories.
Acquisition enhances position in commercial engine MRO aftermarket, supporting organic growth and market share gains.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

VSE CORP entered into Seventh Amendment to Fourth Amended and Restated Business Loan and Security Agreement with Citizens Bank, N.A. valued at Amendment provides flexibility for the Company to enter into certain accounts receivables factoring (effective 2024-04-23).

Action: entry
Agreement: credit facility
Counterparty: Citizens Bank, N.A.
Value: Amendment provides flexibility for the Company to enter into certain accounts receivables factoring
Effective: 2024-04-23

Exact text from the filing

On April 23, 2024, VSE Corporation (“VSE” or the “Company”) and a majority of its wholly owned subsidiaries, as borrowers, entered into that certain Seventh Amendment (the “Amendment”) to the Fourth Amended and Restated Business Loan and Security Agreement

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329 material agreements filed in the last 30 days. Browse all material agreements →

VSE CORP filing history →

Source: SEC EDGAR

accession 0000102752-24-000041

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