Broward company to acquire Northeast business for $350 million

Published on October 29, 2025

A Miramar-based aviation services company plans to acquire a maintenance, repair and overhaul service provider for $350 million.

VSE Corp. (Nasdaq: VSEC) announced it will buy GenNx/AeroRepair IntermediateCo Inc., the parent company of Aero 3, Inc., using $441.6 million in proceeds from a public stock offering led by Morgan Stanley and Jefferies to fund the acquisition, according to the company's U.S. Securities and Exchange Commission filing. The deal is expected to close in the fourth quarter.

"Aero 3 broadens our MRO, distribution, and proprietary product offerings while extending our global footprint." said John Cuomo, president and CEO of VSE. "With the addition of Aero 3’s nine MRO facilities, VSE will now operate twelve strategically located wheel and brake repair facilities across the U.S., Canada, and the U.K., serving commercial, regional and business and general aviation customers."

VSE sold 2.35 million shares at $170 each, with Morgan Stanley and Jefferies leading the sale. The investment banks also bought an additional 352,941 shares after strong demand, bringing the total to about 2.7 million shares. The stock deal closed on Oct. 29.

The company received the proceeds from the underwriting banks, which bought the shares upfront. The banks then sold the stock to investors at a markup, earning a fee for managing the sale.

Founded in 1994, Manchester, New Hampshire-based Aero 3 has 280 employees and serves over 750 global customers. The company reported $120 million in revenue in the 12-month period ended August and manages around 50,000 MRO events annually through nine repair facilities across the U.S., Canada and the U.K.

The deal builds on VSE's acquisition in May of Venice-based Turbine Weld Industries for $50 million and last year's purchase of Davie-based Kellstrom Aerospace Group for $185 million.

Founded in Virginia, VSE moved its headquarters to South Florida last December.

The company's stock opened at $182.73 a share on Wednesday morning, up 7% from five days ago and up 91% since the year started.