VSE (VSEC) said Tuesday it has completed the sale of its Wheeler Fleet Solutions unit to One Equity Partners for a total consideration of up to $230 million.
The company said the payment consisted of $140 million in cash at closing, a $25 million seller note, and an additional contingent earnout consideration of up to $65 million.
VSE said it plans to use the cash proceeds to repay borrowings under its revolving loan facility.
Price: 119.85, Change: -0.14, Percent Change: -0.12
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