GenNx360 Capital Partners Completes Sale of Precision Aviation Group to VSE Corporation for Approximately $2.025 Billion in Cash and Equity.

(BUSINESS WIRE) -- GenNx360 Capital Partners (“GenNx360”), a New York-based private equity firm, has announced the sale of its portfolio company, Precision Aviation Group, Inc. (“PAG” or the “Company”), to VSE Corporation (“VSE”) for a total upfront consideration of approximately $2.025 billion in cash and equity.

Founded in 1996 and headquartered in Atlanta, Georgia, PAG is a best-in-class global provider of aviation maintenance, repair and overhaul (“MRO”) services, distribution and supply chain solutions serving commercial, business and general aviation, rotorcraft and defense end markets. PAG currently operates 29 locations worldwide, employs more than 1,000 people, serves over 10,000 customers globally and completes more than 175,000 repairs annually. The acquisition increases VSE revenue by approximately 50% on a pro forma 2025 basis and is expected to be immediately accretive to VSE’s consolidated Adjusted EBITDA margin.

During GenNx360's ownership, PAG scaled into a high-margin global aviation aftermarket platform focused on engines, avionics, components and proprietary solutions. PAG grew from nine repair stations to 29 locations, expanded its North American footprint and extended its international presence into Europe, Australia and Brazil. The Company expanded its repair capabilities across engines and avionics while strengthening its position on next-generation aircraft platforms.

During its ownership, GenNx360 executed a disciplined buy-and-build strategy, completing 11 add-on acquisitions, expanding geographic reach and deepening technical capabilities. These inorganic initiatives were complemented by robust organic growth driven by consistent new customer wins and expanding strategic partnerships.

“Our partnership with PAG was a result of GenNx360’s proactive strategy and deep sector expertise in aerospace and defense. Our ability to scale PAG to a diversified global MRO platform is a testament to PAG’s exceptional management team,” said Pratik Rajeevan, Principal at GenNx360 Capital Partners who sourced and led the investment.

“Our ongoing equity ownership in VSE reflects our conviction in PAG's momentum and in VSE's ability to accelerate its next stage of growth, enhance capabilities and deliver even greater value for customers,” said Ron Blaylock, Founder and Managing Partner of GenNx360 Capital Partners.

“We have built a reputation for customer responsiveness, expansive technical capabilities and dependable support for operators worldwide. Joining VSE represents an important next chapter for PAG,” said David Mast, Chief Executive Officer of Precision Aviation Group.

“PAG is a highly complementary addition to VSE that expands our aviation aftermarket capabilities, technical depth and global reach across commercial, business and general aviation and rotorcraft markets. PAG has built an exceptional reputation for customer responsiveness, proprietary repair capabilities and operational excellence, and we are excited to welcome David Mast and the PAG team to VSE. Together, we are creating a more scaled aviation aftermarket platform with enhanced repair and distribution capabilities that position VSE for long-term growth and value creation,” said John Cuomo, President and Chief Executive Officer of VSE Corporation.

Transaction Details: The $2.025 billion purchase price includes $1.75 billion in cash and approximately $275 million in equity issued to GenNx360; and up to an additional $125 million in contingent earnout payment based on 2026 performance.

GenNx360’s most recent equity investment in PAG was backed by GenNx360 Capital Partners Fund IV, LP, and a GenNx360 managed single-asset continuation fund led by Neuberger and Blackstone Strategic Partners, with participation from Dextra Partners and Churchill Asset Management. In addition to Mr. Blaylock and Mr. Rajeevan, the GenNx360 PAG investment team included Lloyd Trotter, GenNx360 Founder and Senior Advisor; Reece Zakarin, Vice President; Anil Nagpal, Assistant Vice President; and Jon Langenfeld, Associate.

J.P. Morgan and Jefferies served as sell-side financial advisors to GenNx360 and PAG, with Winston & Strawn LLP acting as legal counsel. Perella Weinberg Partners served as exclusive financial and debt capital markets advisor to VSE, with Jones Day acting as legal counsel.

ABOUT GENNX360 CAPITAL PARTNERS

GenNx360 Capital Partners is a private equity firm focused on acquiring middle market business-to-business services companies. GenNx360 partners with companies having proven and sustainable business models in expanding industries with the objective of implementing and supporting value-enhancing organic and inorganic initiatives to accelerate growth, deliver cost efficiencies, and generate strong financial returns. GenNx360 was founded in 2006 and is headquartered in New York City. For more information on GenNx360, please visit www.gennx360.com.

ABOUT PRECISION AVIATION GROUP

Precision Aviation Group (“PAG”) is a leading global provider of aviation aftermarket MRO, distribution, and supply chain services supporting B&GA, rotorcraft, and defense markets. PAG serves a broad global customer base and delivers technical expertise across engines, components, avionics, and proprietary repair solutions. For more information on PAG, please visit www.precisionaviationgroup.com.

ABOUT VSE CORPORATION

VSE is a leading provider of Aviation distribution and repair services for the commercial and business and general aviation (B&GA) aftermarkets. Headquartered in Miramar, Florida, VSE is focused on significantly enhancing the productivity and longevity of its customers' high-value, business-critical assets. VSE’s aftermarket parts distribution and maintenance, repair, and overhaul (MRO) services support engine component and engine and airframe accessory part distribution and repair services for commercial and B&GA operators. For more detailed information, please visit VSE's website at www.vsecorp.com.

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