VSE Corporation, a provider of aftermarket distribution and maintenance, repair and overhaul (MRO) services for land, sea and air transportation assets, has acquired Precision Fuel Components.
The all-cash transaction, VSE said, is "immediately accretive" to its aviation segment, and adds the 2001-founded Precision Fuel to VSE's services to government and commercial aviation.
Jones Day served as legal counsel to VSE, while Janes Capital Partners served as financial advisor and Karr Tuttle Campbell as legal counsel to Precision Fuel.
Precision Fuel specialises in supporting small turbine rotorcraft fuel controls, governors, sensors, bleed valves, and fuel pumps, along with radial engine components and Bendix-Stromberg carburretors and is member of the Honeywell Authorized Warranty and Repair Station (AWARS) network.
"By combining VSE Aviation’s existing part distribution and MRO services with Precision Fuel’s engine accessory and fuel system MRO services, VSE Aviation customers will have access to differentiating, full-service, on-demand repair and distribution solutions," VSE said, adding that the deal would give it "access to new rotorcraft and fixed wing operator customers and expands VSE’s MRO capabilities within new engine platforms" and would "allow for significant cross-selling opportunities, positioning VSE Aviation to expand its market share within niche, B&GA market adjacencies".
“This transaction represents an important strategic investment for our aviation segment, one that expands our repair capabilities across a diverse base of global rotorcraft, fixed wing, and B&GA customers. Precision Fuel’s value-added, high-margin MRO solutions will complement our existing service capabilities, while positioning us to further enhance our unique value proposition," said John Cuomo,VSE president and chief executive.
“Precision Fuel’s customer-centric culture, long-term relationships, established OEM partnerships, and proven technical expertise are highly complementary to our existing business,” said Ben Thomas, president of VSE Aviation.