GenNx360 sells Precision Aviation Group to VSE

GenNx360 Capital Partners has exited Precision Aviation Group through a sale to VSE Corporation, closing a multi-year build-up that transformed the Atlanta-based aviation aftermarket specialist into a global platform.

The upfront consideration totals $2.03 billion, consisting of $1.75 billion in cash and approximately $275 million in VSE equity, plus an earnout of up to $125 million tied to 2026 adjusted EBITDA.

Founded in 1996, Precision Aviation Group provides maintenance, repair and overhaul services, distribution and supply chain solutions across commercial, business and general aviation, rotorcraft and defense end markets.

The company operates 29 locations worldwide, employs more than 1,000 people, serves over 10,000 customers and completes more than 175,000 repairs annually.

Under GenNx360, the group completed 11 add-on acquisitions, expanding from nine repair stations to its current footprint and entering Europe, Australia and Brazil.

For VSE, the acquisition adds roughly 50% to pro forma 2025 revenue and is expected to be immediately accretive to the combined company’s consolidated adjusted EBITDA margin.

PAG Chief Executive Officer David Mast, who will continue with the business, called the pairing an important next chapter, while VSE CEO John Cuomo said the deal creates a more scaled aviation aftermarket platform with complementary repair and distribution capabilities.

Morgan and Jefferies served as financial advisors to GenNx360 and PAG, with Winston & Strawn LLP as legal counsel.

Perella Weinberg Partners advised VSE, and Jones Day provided legal advice to the buyer.

GenNx360’s PAG investment was held through GenNx360 Capital Partners Fund IV and a single-asset continuation fund led by Neuberger and Blackstone Strategic Partners, with participation from Dextra Partners and Churchill Asset Management.