---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-028344"
form_type: "8-K"
ticker: "VSEC"
cik: "0000102752"
company_name: "VSE CORP"
filed_at: "2026-01-29T23:59:59+00:00"
generated_at: "2026-05-16T06:14:40.777684+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# VSE to acquire Precision Aviation Group for $2.025B; prelim FY25 rev ~$1.1B, adj EBITDA ~$180M

## Summary
- Total upfront consideration $2.025B: $1.75B cash + $275M newly issued equity, plus up to $125M earnout based on FY2026 profitability targets.
- PAG expected 2025 adjusted revenue ~$615M; acquisition projected to increase VSE aviation revenue by ~50% on a pro forma basis.
- Deal expected to close by July 29, 2026, subject to HSR, Australian, and UK foreign-direct-investment approvals; 3-month extension possible.
- Preliminary Q4 2025 consolidated revenue $290-304M, operating income $27-34M, Adjusted EBITDA $45-53M; positive free cash flow for FY2025.
- VSE expects consolidated Adjusted EBITDA margin to exceed 20% over next few years; PAG margin immediately accretive.

## SEC filing metadata
- accession: 0001193125-26-028344
- form_type: 8-K
- ticker: VSEC
- cik: 0000102752
- company_name: VSE CORP
- filed_at: 2026-01-29T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.02, 2.03, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/102752/000119312526028344/0001193125-26-028344-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/102752/000119312526028344/d802184d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-028344
- JSON: https://secwatch.observer/filing/0001193125-26-028344.json
- Plain text: https://secwatch.observer/filing/0001193125-26-028344.txt

## Key facts
- Material Agreements
  VSE CORP entered into Purchase Agreement with GenNx360 PAG Buyer, LLC valued at $2.025 billion (effective 2026-01-29).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: GenNx360 PAG Buyer, LLC
  - Value: $2.025 billion
  - Effective: 2026-01-29
  source text: On January 29, 2026, VSE Corporation (“VSE” or the “Company”) entered into a stock purchase agreement (the “Purchase Agreement”) with VSE Mach HoldCo Acquisition Corp., a Delaware corporation and a direct, wholly-owned subsidiary of the Company (“Rollover Purchaser”), VSE Mach Acquisition Corp., a Delaware corporation and a direct, wholly-owned subsidiary of Rollover Purchaser (“Cash Purchaser”), GenNx/PAG IntermediateCo Inc., a Delaware corporation (“PAG HoldCo”), and GenNx360 PAG Buyer, LLC, a Delaware limited liability company (“Seller”), pursuant to which VSE will acquire all of the capital stock of PAG HoldCo, which is the parent company of PAG Holding Corp. (d/b/a Precision Aviation Group) (“PAG”), a portfolio company of GenNx360 Capital Partners (such acquisition, the “PAG Acquisition”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/102752/000119312526028344/0001193125-26-028344-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.