Middle-market private equity firm One Equity Partners has closed on its acquisition of Somerset, Pa.-based Wheeler Fleet Solutions from VSE Corp.
Founded in 1960, Wheeler distributes aftermarket parts and provides engineering solutions for medium- and heavy-duty fleets. The company employs about 385 people across distribution centers in Pennsylvania, Mississippi and Texas.
“The acquisition of Wheeler Fleet Solutions is the latest example of OEP’s ability to identify valuable industrial service assets from large corporations looking to streamline their operations through divestitures,” One Equity Partners Partner Steve Lunau said in a statement.
“The Wheeler team looks forward to working with One Equity Partners and executing on our shared vision for Wheeler as an independent business,” Wheeler President Chris Wheeler added.
Moelis & Co. served as the exclusive financial advisor and Davis Polk & Wardwell served as legal counsel to One Equity Partners. Jefferies served as exclusive financial advisor to VSE.
