VSE Corporation (“VSE” or the “Company”) (NASDAQ: VSEC, VSECU), a leading provider of aviation aftermarket distribution and repair services, today announced it has acquired Atech Turbine Components, Inc. (“Atech”), a specialized Maintenance, Repair and Overhaul (“MRO”) provider focused on complex hot-section components for aircraft turbine engines.
Founded in 1990 and headquartered in Auburn, Massachusetts, Atech is a leading provider of specialized and proprietary engine component repairs, primarily supporting Pratt & Whitney Canada engine platforms. Atech’s proprietary OEM repair approvals cover more than 300 part numbers, and Atech serves as the sole-source provider for many flight-critical repairs across the PT6, JT15D, PW100, PW150, PW200, PW300 and PW500 engine families, as well as the PW901 auxiliary power unit.
Atech provides highly technical, OEM approved repairs across combustion liners, exhaust ducts, turbine shroud housings, structural engine components and other hot-section components supporting business and general aviation, regional commercial, rotorcraft, military and special-mission applications.
“This acquisition represents another important step in the expansion of VSE Aviation’s engine aftermarket capabilities,” said John Cuomo, President and Chief Executive Officer of VSE Corporation. “Atech brings a differentiated portfolio of proprietary repairs, highly technical capabilities and a deep relationship with Pratt & Whitney Canada across some of the most important engine platforms in the aviation aftermarket. By adding Atech to VSE, we are expanding the breadth of solutions we provide to our OEM partners and customers while creating another attractive platform for long-term organic growth.”
“We are incredibly proud of what we have built,” said Rita Kapur, President of Atech Turbine Components. “Our people, our reputation, and the trust we have earned from our customers are what defines us. This partnership with VSE Aviation allows us to build on that foundation while creating even greater opportunities for growth. VSE shares our commitment to technical excellence, exceptional customer service, and investment in our people. Together, we will have greater resources and capabilities to expand our specialized repair portfolio, deepen our customer relationships, and continue delivering the quality and service that have defined Atech Turbine Components for decades.”
Philpott Ball & Werner, LLC served as the exclusive financial advisor to Atech.
About Philpott Ball & Werner (“PB&W”)
Founded in 1991, PB&W is a premier middle-market investment bank that provides merger, acquisition and company sale advisory services, as well as providing fairness opinions and select private placements. PB&W serves clients throughout North America, the United Kingdom and the European Union with offices located in greater Boston and Charlotte. To learn more about PB&W, please visit www.pbandw.com.
