secwatch.observer — SEC 8-K summary
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Issuer:     VSE CORP (VSEC)
CIK:        0000102752
Form:       8-K
Filed at:   2026-01-29T23:59:59+00:00
Accession:  0001193125-26-028344
Event type: m_and_a
Sentiment:  positive
Materiality: 0.90
Item codes: 1.01, 2.02, 2.03, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/102752/000119312526028344/0001193125-26-028344-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/102752/000119312526028344/d802184d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-028344

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