ALEXANDRIA, Va. — VSE Corp., a provider of aftermarket distribution and maintenance, repair and overhaul services for multiple transportation platforms, has acquired Desser Holding Co. L.L.C. (Desser Aerospace), a U.S.-based aircraft tire distributor and retreader.
The deal is valued at $124 million, but Alexandria-based VSE struck a subsequent agreement to sell Desser Aerospace's Proprietary Solutions businesses, including Seginus Aerospace, AOG Aviation Spares, and DAC Engineered Products, for $30 million, reducing the value to $94 million.
VSE acquired Montebello, Calif.-based Desser Aerospace from private investment firm Graham Partners Inc., which has owned the company
since 2014. In business since 1920, Desser Aerospace is considered the world's largest independent distributor of aircraft tires and tubes, and a global distributor of brakes and batteries along with being a provider of maintenance, repair and overhaul services. Desser's global distribution and MRO operation have locations in Montebello; Memphis, Tenn.; Australia; and the United Kingdom.
The acquisition marks an important step on VSE's plan to broaden its operations into the high-growth, higher-margin aviation distribution and MRO markets, VSE President and CEO John Cuomo said.
By combining Desser Aerospace's distribution and repair capabilities with VSE Aviation's aftermarket business, VSE has broadened its product and service portfolio and created a platform for geographic expansion into international markets.
"VSE Aviation and Desser Aerospace have long been committed to providing market-leading, technical solutions that enhance the value and performance of their customers' aircraft," Ben Thomas, president of VSE Aviation, said.
"We're excited to bring these two teams together as we look to create one organization focused on supporting the unique needs of our combined customer bases."
Desser Aerospace stocks a range of aircraft tire brands, including Condor, Dunlop, Goodyear, Michelin and Specialty Tires, in addition to the company's private-label brand Aero Classic. It also offers retreads it produces at the firm's headquarters in Montebello.
