secwatch.observer — SEC 8-K summary
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Issuer:     VSE CORP (VSEC)
CIK:        0000102752
Form:       8-K
Filed at:   2024-10-15T23:59:59+00:00
Accession:  0001193125-24-237572
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

VSE to acquire Kellstrom Aerospace for ~$200M; preliminary Q3 revenue $268-275M
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- Acquisition of Kellstrom Aerospace for ~$200M ($185M cash + $15M stock), expected Q4 2024 close.
- Kellstrom generated ~$175M revenue TTM; synergies of ~$4M expected; path to 15%+ EBITDA margins.
- Preliminary Q3 2024 revenue $268-275M; operating income $22-24M; adjusted EBITDA $31-34M.
- Aviation segment revenue +32-34% YoY; Fleet segment -10-15% YoY.
- Total debt ~$453M, net debt ~$442M; pro forma net leverage <3.5x after financing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/102752/000119312524237572/0001193125-24-237572-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/102752/000119312524237572/d731014d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-237572

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer