Stratrix
On the Record · VSE

VSE acquisitions, on the record

The businesses VSE bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.

Deals its annual reports describe

BusinessDealWhenValue
Precision Fuel Components, LLC
Word for word“On February 1, 2023, our Aviation segment acquired Precision Fuel Components, LLC ("Precision Fuel") for a purchase price of $ 11.7 million.” 10-K for 2023
acquisitionFebruary 1, 2023$ 11.7 million
Desser Holding Company LLC (Desser Aerospace)
Word for word“On July 3, 2023, we completed the acquisition of Desser Holding Company LLC ("Desser Aerospace"), a global aftermarket solutions provider of specialty distribution and MRO services.” 10-K for 2023
acquisitionJuly 3, 2023—
Honeywell Fuel Control Systems
Word for word“On September 27, 2023, our Aviation segment entered into an Asset Purchase and License Agreement with Honeywell International Inc. ("Honeywell"), for a purchase price of $ 105.0 million, to exclusively manufacture, sell, market, distribute, and repair certain Honeywell fuel control systems (the "Honeywell FCS Acquisition").” 10-K for 2023
agreed acquisitionSeptember 27, 2023$ 105.0 million
Turbine Controls, Inc.
Word for word“On February 29, 2024, we signed a definitive agreement to acquire Turbine Controls, Inc. ("TCI"), a leading provider of aftermarket MRO support services for complex engine components, as well as engine and airframe accessories, across commercial and military applications.” 10-K for 2023
agreed acquisitionFebruary 29, 2024—
propriety solutions businesses (sold to Loar)
Word for word“(vi) expressly permitting the Desser Aerospace acquisition and the subsequent and simultaneous sale of the propriety solutions businesses to Loar (the "Loar Sale").” 10-K for 2023
divestiture——
Turbine Controls, Inc. (TCI)
Word for word“On April 24, 2024, we completed the acquisition of TCI for a total consideration of $ 122.4 million, consisting of net cash consideration of $ 112.4 million, which included $ 1.5 million as a net working capital adjustment, and in-kind payment in the form of shares of the Company's common stock with a value equal to approximately $ 10.0 million.” 10-K for 2024
acquisitionApril 24, 2024122.4 million
Kellstrom Aerospace Group, Inc. (Kellstrom Aerospace)
Word for word“On December 3, 2024, we completed the acquisition of Kellstrom Aerospace for a total consideration of approximately $ 191.0 million, subject to post-closing adjustments, consisting of net cash consideration of $ 170.8 million and in-kind payment in the form of shares of the Company's common stock with a value equal to approximately $ 20.3 million.” 10-K for 2024
acquisitionDecember 3, 2024approximately $ 191.0 million
Fleet segment
Word for word“In February 2025, we entered into an agreement to sell the Fleet segment.” 10-K for 2024
agreed divestitureFebruary 2025—
Precision Fuel Components, LLC (Precision Fuel)
Word for word“On February 1, 2023, our Aviation segment acquired Precision Fuel Components, LLC for a purchase price of $ 11.7 million.” 10-K for 2024
acquisitionFebruary 1, 202311.7 million
Honeywell fuel control systems (Honeywell FCS Acquisition)
Word for word“On September 27, 2023, our Aviation segment entered into an Asset Purchase and License Agreement with Honeywell International Inc. ("Honeywell"), for a purchase price of $ 105.0 million, to exclusively manufacture, sell, market, distribute, and repair certain Honeywell fuel control systems.” 10-K for 2024
acquisitionSeptember 27, 2023105.0 million
Precision Aviation Group ("PAG")
Word for word“On January 29, 2026, the Company entered into a stock purchase agreement (the “Purchase Agreement”) to acquire Precision Aviation Group ("PAG"), a portfolio company of GenNx360 Capital Partners, for total upfront consideration of approximately $2.025 billion in cash and equity (the “PAG Acquisition”).”” 10-K for 2025
agreed acquisitionJanuary 29, 2026approximately $2.025 billion in cash and equity
Turbine Weld Industries, LLC ("Turbine Weld")
Word for word“In May 2025, the Company completed the acquisition of Turbine Weld Industries, LLC ("Turbine Weld"), a specialized MRO provider of complex technical and proprietary engine components for business and general aviation platforms.” 10-K for 2025
acquisitionMay 2025—
GenNx/AeroRepair IntermediateCo Inc., the parent company of Aero 3, Inc.
Word for word“On December 23, 2025, the Company completed the previously announced acquisition of GenNx/AeroRepair IntermediateCo Inc., the parent company of Aero 3, Inc., for a total cash consideration, subject to working capital adjustments, of $ 346.4 million, net of cash acquired of $ 1.4 million.” 10-K for 2025
acquisitionOn December 23, 2025$ 346.4 million
As filedReported in the company's financial data (XBRL), each linked to its filing
Fiscal year endedCash paid for acquisitions (net of cash acquired)Cash received from selling businessesGoodwill from acquisitions
2016-12-31$63,000—$77,000
2017-12-31$0—$0
2018-12-31$0—$0
2019-12-31$113.2 million—$77.8 million
2020-12-31$0——
2021-12-31$53.3 million—$10.6 million
2022-12-31$0$0—
2023-12-31$218.6 million$0$134.5 million
2024-12-31$283.1 million$40.2 million$140.8 million
2025-12-31$394.1 million$139 million$229.8 million

Deal filings since 2016

Read from VSE’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-02-27. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.