VSE Corp to acquire Precision Aviation Group (PAG); PAG 2024 revenue $472M, net income $6.8M

VSE CORP

VSE entered stock purchase agreement on Jan 29, 2026 to acquire all capital stock of PAG Holdco; closing subject to regulatory approvals.
PAG 2024 revenue $472M (up 17% YoY from $402.5M); net income $6.8M vs. loss $956K in 2023.
PAG total assets $1.02B as of Dec 31, 2024, with goodwill $392M and intangible assets $291M.
PAG long-term debt (incl. related party) $626M at Dec 31, 2024; acquisition funded via $311M debt issuance and $195M equity contributions.
Audited PAG financials (FY 2024, FY 2023) and unaudited pro forma combined info for nine months Sep 2025 and FY 2024 filed as exhibits.

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