VSE Corporation Announces Relocation of Corporate Headquarters to Miramar, Florida

Rhea-AI Summary

VSE (NASDAQ: VSEC) announced the relocation of its corporate headquarters to Miramar, Florida, co-locating with its Aviation segment headquarters and MRO center of excellence. The strategic move aims to enhance collaboration and create a more interconnected workspace. The company plans to invest $3.5 million in tenant improvements and add 110 new employees over the next five years to support its existing 250 South Florida-based workforce. The new headquarters is situated in the Miramar Park of Commerce between Miami and Fort Lauderdale, adjacent to a planned mixed-use town center development that will offer various amenities to employees.

Positive

• Planning to add 110 new jobs over next 5 years
• Strategic $3.5 million investment in facility improvements
• Operational efficiency through co-location of corporate HQ with Aviation segment
• Access to growing South Florida aerospace hub

Negative

• None.

Insights

Corporate Strategy Analyst

The headquarters relocation to Miramar, Florida represents a strategic consolidation that brings multiple benefits. Co-locating the corporate office with VSE's Aviation segment and MRO center creates operational synergies and potential cost savings. The $3.5 million investment in facility improvements and planned addition of 110 employees over 5 years signals meaningful expansion.

The move leverages Florida's aerospace ecosystem and business-friendly environment. The location between Miami and Fort Lauderdale, combined with planned mixed-use development nearby, should aid in talent attraction and retention. The consolidation of corporate functions with aviation operations indicates a stronger focus on the company's aerospace business, which could drive improved operational efficiency and decision-making speed.

MIRAMAR, Fla.--(BUSINESS WIRE)-- VSE Corporation (“VSE” or the “Company”) (NASDAQ: VSEC), a leading provider of aftermarket distribution and repair services, today announced the relocation of its corporate headquarters to Miramar, Florida. The new headquarters will be co-located with the Company’s Aviation segment headquarters and Maintenance, Repair and Overhaul (“MRO”) center of excellence at 3361 Enterprise Way, Miramar, FL, 33025.

“We are pleased to announce the relocation of our corporate headquarters to South Florida, now co-located with our VSE Aviation segment headquarters and MRO center of excellence in Miramar, Florida,” said John Cuomo, President and CEO of VSE Corporation. “This strategic move strengthens our ability to support our business partners and employees while reinforcing our commitment to the thriving South Florida aerospace community. By integrating our corporate headquarters with the Aviation segment headquarters and MRO facility, we expect to enhance collaboration and create a more dynamic, interconnected workspace for our team.”

Mr. Cuomo added, “We extend our sincere thanks to Broward County, the City of Miramar and the Greater Fort Lauderdale Alliance for their exceptional support. Their dedication to fostering an environment that promotes economic growth, attracts top-tier talent, and supports strong businesses was pivotal in our decision to make Miramar the home of our new headquarters.”

“Congratulations, VSE, on the relocation of your headquarters to Miramar and Broward County. As a premier destination for headquarters of all industries, and a thriving global aviation MRO hub, we welcome you and look forward to your continued growth and success,” said Bob Swindell, President/CEO of the Greater Fort Lauderdale Alliance, Broward County’s official public/private partnership for economic development.

“VSE’s decision to relocate its headquarters, bringing new high value jobs and investment to Broward County, strengthens our economic competitiveness and provides opportunities for Broward families. Congratulations to VSE and the City of Miramar,” said Broward County Mayor Beam Furr.

“The City of Miramar welcomes VSE. Miramar is a natural fit and is thrilled to now be home to both the VSE’s headquarters along with its MRO center of excellence. Thank you for bringing significant capital investment and high-value jobs to the City of Beauty and Progress,” said Miramar Mayor Wayne Messam.

The new Miramar headquarters boasts a prime location in the heart of South Florida, located in the Miramar Park of Commerce between Miami and Fort Lauderdale. The headquarters is located across the street from a planned mixed-use “town center” to be developed by Sunbeam Properties and Development. The new development will provide VSE employees access to a variety of amenities, including restaurants, retail shops, a hotel, and apartments. VSE plans to add an additional 110 new employees over the next five years, supporting the existing base of approximately 250 South Florida based employees. The Company also intends to invest approximately $3.5 million in tenant improvements, including new offices, additional MRO capabilities, a training and conference center, and renovations to existing spaces.

VSE operates facilities across the U.S., U.K., and Germany. To learn more about VSE’s current career opportunities in Florida and around the world, visit https://vsecorp.com/careers/.

Advisor

Cushman & Wakefield served as exclusive advisor to VSE Corporation.

ABOUT VSE CORPORATION

VSE is a leading provider of aftermarket distribution and repair services. Operating through its two key segments, VSE significantly enhances the productivity and longevity of its customers' high-value, business-critical assets. The Aviation segment is a leading provider of aftermarket parts distribution and maintenance, repair, and overhaul (MRO) services for components and engine accessories to commercial, business, and general aviation operators. The Fleet segment specializes in part distribution, engineering solutions, and supply chain management services catered to the medium and heavy-duty fleet market. For more detailed information, please visit VSE's website at www.vsecorp.com.

FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking statements. These forward-looking statements, which are included in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, may involve known and unknown risks, uncertainties and other factors that may cause VSE’s actual results to vary materially from those indicated or anticipated by such statements. Many factors could cause actual results and performance to be materially different from any future results or performance, including, among others, the risk factors described in our reports filed or expected to be filed with the SEC. Any forward-looking statement or statement of belief speaks only as of the date of this press release. We undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241121842776/en/

INVESTOR RELATIONS CONTACT:

Michael Perlman

Vice President of Investor Relations and Treasury

Phone: (954) 547-0480

Email: investors@vsecorp.com

Source: VSE Corporation

FAQ

Where is VSE (VSEC) relocating its headquarters to?

VSE is relocating its headquarters to 3361 Enterprise Way, Miramar, Florida, 33025, co-locating with its Aviation segment headquarters and MRO center of excellence.

How many new jobs will VSE (VSEC) create in Miramar, Florida?

VSE plans to add 110 new employees over the next five years, adding to their existing base of approximately 250 South Florida based employees.

How much is VSE (VSEC) investing in its new Miramar headquarters?

VSE plans to invest approximately $3.5 million in tenant improvements, including new offices, additional MRO capabilities, a training and conference center, and renovations.