GenNx360 Capital Partners Finalizes the Sale of Aero 3, Inc. to VSE Corporation

NEW YORK--(BUSINESS WIRE)--GenNx360 Capital Partners (“GenNx360”), a New York-based private equity firm, is pleased to announce the sale of its portfolio company, Aero 3, Inc. (“Aero 3” or the “Company”), to VSE Corporation (“VSE”) for $350 million in cash.

Aero 3 is a Manchester, New Hampshire-based provider of wheel and brake maintenance, repair and overhaul services to the global aviation industry. The Company is an authorized distributor of OEM wheel and brake components and additionally offers proprietary repair solutions and manufactured components. Aero 3 serves a global customer base, operating nine repair stations across the United States, Canada and the UK.

During GenNx360’s investment, Aero 3 evolved from a regional North American service provider into a leading international platform serving the global aviation wheel and brake industry. The Company built out its North American footprint adding locations in Miami and Dallas, expanded internationally, broadened its presence into narrow and wide-body aircraft and added new capabilities to enhance its overall value proposition. Supported by GenNx360, Aero 3 successfully executed its buy-and-build strategy, completing four add-on acquisitions that expanded geographic reach and strengthened its capabilities. These inorganic initiatives were complemented by impressive organic growth driven by consistent new customer wins and expanding strategic partnerships.

“Aero 3 was the result of GenNx360’s proactive investment thesis in the aerospace & defense sector. We are proud of the highly resilient global aviation aftermarket business that we built alongside the management team. We are excited to see Aero 3 join the VSE Aviation platform and confident they will continue to thrive in this next phase of growth,” said Pratik Rajeevan, Principal at GenNx360 who led the transaction. “Dan and his team have built an exceptional, customer-focused business, and it has been a pleasure partnering with them as we executed on our buy-and-build strategy.” In addition to Pratik, GenNx360’s Aero 3 team includes Ron Blaylock, Founder and Managing Partner; Lloyd Trotter, Founder and Senior Advisor; Peter White, Principal; and Jon Langenfeld, Associate.

“We are incredibly proud of the success we’ve had alongside the GenNx360 team and thank them for their support and partnership,” said Daniel Bell, President and Chief Executive Officer of Aero 3. “Through this partnership, we were able to transform Aero 3 into a leading global player. We are excited to join VSE in this next chapter of growth.”

“This acquisition marks a meaningful step forward for VSE as we continue to expand our aviation aftermarket distribution and repair capabilities and deepen our OEM partnerships,” said John Cuomo, President and Chief Executive Officer of VSE Corporation. “Aero 3 brings a proven operating model, a strong leadership team, complementary repair expertise, and a global footprint that will strengthen our position as a leading provider of wheel and brake aftermarket services. We are pleased to welcome the Aero 3 team to VSE and look forward to driving enhanced performance and growth together.”

Harris Williams LLC served as the exclusive financial advisor and Winston & Strawn LLP served as legal advisor to GenNx360 and Aero 3. Jones Day served as legal counsel to VSE.

ABOUT GENNX360 CAPITAL PARTNERS
GenNx360 Capital Partners is a private equity firm focused on acquiring middle market business-to-business services companies. GenNx360 partners with companies having proven and sustainable business models in expanding industries with the objective of implementing and supporting value-enhancing organic and inorganic initiatives to accelerate growth, deliver cost efficiencies, and generate strong financial returns. Target industries include industrial machinery and components, business & industrial services, automation & industrial technology, packaging products, equipment services, environmental services, and food ingredients/equipment/services. GenNx360 was founded in 2006 and is headquartered in New York City. For more information on GenNx360, please visit www.gennx360.com.

ABOUT VSE CORPORATION
VSE is a leading provider of Aviation distribution and repair services for the commercial and business and general aviation (B&GA) aftermarkets. Headquartered in Miramar, Florida, VSE is focused on significantly enhancing the productivity and longevity of its customers' high-value, business-critical assets. VSE’s aftermarket parts distribution and maintenance, repair, and overhaul (MRO) services support engine component and engine and airframe accessory part distribution and repair services for commercial and B&GA operators. For more detailed information, please visit VSE's website at www.vsecorp.com.