As the aviation industry goes, so goes VAS Aero Services. The company provides aftermarket aviation component services and distribution -- a business influenced by aircraft operations, which require maintenance and repair, and aftermarket parts as their miles increase. Its services include sourcing, warehousing, and selling engines, engine parts, airframe components, and gas turbine parts to airlines, leasing companies, maintenance, repair, and overhaul (MRO) businesses, as well as investors. VAS Aero Services is the exclusive distributor of surplus spare parts for Boeing. The company, formerly known as Volvo Aero Services, was acquired by an affiliate of H.I.G. Capital from Volvo Aero Corporation in fall 2010.
As a result of the flagging economy, passenger miles are down and Volvo Aero shifted its resources to developing and manufacturing aero engine components for the aerospace industry. The former parent cited the synergies between its US services subsidiary and its core operations as minimal. Volvo Aero also benefited from the proceeds the sale provided, which were undisclosed.
In the meantime, VAS Aero Services and Boeing extended their marketing and distribution partnership agreement through 2019. The service provider has been given the rights to manufacture and distribute proprietary parts for a wide range of Boeing aircraft models. Other sourcing and customer relationships include General Electric and Embraer, as well as airlines worldwide.