UK Acquisition Closes Global Growth Platform for Vector Aerospace

Vector Aerospace Corporation (Vector) announced recently that its wholly-owned subsidiary, Vector Aerospace International Limited, has completed the acquisition of the United Kingdom Ministry of Defence (MOD) Defence Aviation and Repair Agency (DARA) Rotary Wing and Components businesses for consideration of £17 million.  The assets acquired include net working capital of £13.5 million. The Fleetlands Rotary business, which provides maintenance, repair and overhaul support for the MOD Chinook (CH-47), Lynx and Sea King helicopters, will be renamed Vector Aerospace Helicopter Services Fleetlands. The Almondbank Components business, which provides maintenance, repair and overhaul and component support for these and other helicopter and fixed wing platforms within the United Kingdom, both for MOD and other customers, will be renamed Vector Aerospace Component Services Almondbank.