VSE Corporation (VSEC) Awarded $23.4 Million U.S. Dept of Treasury Contract; Potential Deal Worth Up To $250 Million

VSE Corporation (Nasdaq: VSEC) Government Services Division has been awarded a one year, $23.4 million indefinite-quantity, indefinite- delivery hybrid firm-fixed price, fixed rate and cost-plus fixed fee contract by the U.S. Department of the Treasury for continued support of the seized and forfeited general property program. This contract includes options, which if exercised, would bring the cumulative 10-year maximum potential value of this contract to approximately $250 million. VSE has been the prime contractor for Treasury’s Office for Asset Forfeiture (TEOAF) general property program since 2006.

Under this contract, VSE will lead its team to provide transportation, storage, and disposition services to several law enforcement agencies, including Customs and Border Protection (CBP), Immigration and Customs Enforcement (ICE), Secret Service, IRS-Criminal Investigation, and the Office of Foreign Asset Control (OFAC).

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