Business Wire India

GenNx360 Capital Partners (“GenNx360”), a New York-based private equity firm, has announced the sale of its portfolio company, Precision Aviation Group, Inc. (“PAG” or the “Company”), to VSE Corporation (“VSE”) for a total upfront consideration of approximately $2.025 billion in cash and equity.

 

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Founded in 1996 and headquartered in Atlanta, Georgia, PAG is a best-in-class global provider of aviation maintenance, repair and overhaul (“MRO”) services, distribution and supply chain solutions serving commercial, business and general aviation, rotorcraft and defense end markets. PAG currently operates 29 locations worldwide, employs more than 1,000 people, serves over 10,000 customers globally and completes more than 175,000 repairs annually. The acquisition increases VSE revenue by approximately 50% on a pro forma 2025 basis and is expected to be immediately accretive to VSE’s consolidated Adjusted EBITDA margin.

 

 

During GenNx360’s ownership, PAG scaled into a high-margin global aviation aftermarket platform focused on engines, avionics, components and proprietary solutions. PAG grew from nine repair stations to 29 locations, expanded its North American footprint and extended its international presence into Europe, Australia and Brazil. The Company expanded its repair capabilities across engines and avionics while strengthening its position on next-generation aircraft platforms.

 

 

During its ownership, GenNx360 executed a disciplined buy-and-build strategy, completing 11 add-on acquisitions, expanding geographic reach and deepening technical capabilities. These inorganic initiatives were complemented by robust organic growth driven by consistent new customer wins and expanding strategic partnerships.

 

 

“Our partnership with PAG was a result of GenNx360’s proactive strategy and deep sector expertise in aerospace and defense. Our ability to scale PAG to a diversified global MRO platform is a testament to PAG’s exceptional management team,” said Pratik Rajeevan, Principal at GenNx360 Capital Partners who sourced and led the investment.

 

 

“Our ongoing equity ownership in VSE reflects our conviction in PAG’s momentum and in VSE’s ability to accelerate its next stage of growth, enhance capabilities and deliver even greater value for customers,” said Ron Blaylock, Founder and Managing Partner of GenNx360 Capital Partners.

 

 

“We have built a reputation for customer responsiveness, expansive technical capabilities and dependable support for operators worldwide. Joining VSE represents an important next chapter for PAG,” said David Mast, Chief Executive Officer of Precision Aviation Group.

 

 

“PAG is a highly complementary addition to VSE that expands our aviation aftermarket capabilities, technical depth and global reach across commercial, business and general aviation and rotorcraft markets. PAG has built an exceptional reputation for customer responsiveness, proprietary repair capabilities and operational excellence, and we are excited to welcome David Mast and the PAG team to VSE. Together, we are creating a more scaled aviation aftermarket platform with enhanced repair and distribution capabilities that position VSE for long-term growth and value creation,” said John Cuomo, President and Chief Executive Officer of VSE Corporation.

 

 

Transaction Details: The $2.025 billion purchase price includes $1.75 billion in cash and approximately $275 million in equity issued to GenNx360; and up to an additional $125 million in contingent earnout payment based on 2026 performance.

 

 

GenNx360’s most recent equity investment in PAG was backed by GenNx360 Capital Partners Fund IV, LP, and a GenNx360 managed single-asset continuation fund led by Neuberger and Blackstone Strategic Partners, with participation from Dextra Partners and Churchill Asset Management. In addition to Mr. Blaylock and Mr. Rajeevan, the GenNx360 PAG investment team included Lloyd Trotter, GenNx360 Founder and Senior Advisor; Reece Zakarin, Vice President; Anil Nagpal, Assistant Vice President; and Jon Langenfeld, Associate.

 

 

J.P. Morgan and Jefferies served as sell-side financial advisors to GenNx360 and PAG, with Winston & Strawn LLP acting as legal counsel. Perella Weinberg Partners served as exclusive financial and debt capital markets advisor to VSE, with Jones Day acting as legal counsel.

 

 

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. GenNx360 was founded in 2006 and is headquartered in New York City. For more information on GenNx360, please visit www.gennx360.com.

 

 

ABOUT PRECISION AVIATION GROUP

 

 

Precision Aviation Group (“PAG”) is a leading global provider of aviation aftermarket MRO, distribution, and supply chain services supporting B&GA, rotorcraft, and defense markets. PAG serves a broad global customer base and delivers technical expertise across engines, components, avionics, and proprietary repair solutions. For more information on PAG, please visit www.precisionaviationgroup.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.

 

 

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260512000455/en/

 

Business Wire India

Celonis, the global leader in Process Intelligence, today launched the Celonis Context Model (CCM) and announced it has signed a definitive agreement to acquire Ikigai Labs, a leader in AI-powered Decision Intelligence.

 

As organizations around the world attempt to deploy Enterprise AI, they face a critical challenge: ensuring AI does not have blind spots in understanding how the business operates. Without this understanding, AI agents cannot make a real impact, so companies struggle to see meaningful returns on their Enterprise AI investments.

 

 

The CCM fixes this by providing a dynamic, real-time digital twin of operations, which translates the business into a language AI understands. Built on process data and business knowledge from every system, application, device, and interaction across the business, the CCM gives Enterprise AI the operational clarity it needs to reason correctly, act reliably, and deliver results at scale.

 

 

The acquisition of Ikigai Labs will bring state-of-the-art enterprise Decision Intelligence and cutting-edge AI innovation — which includes planning, simulation, and forecasting capabilities — to the CCM, enabling organizations to model future-state scenarios, predict and prevent process breakdowns, and make sensible, reliable decisions.

 

 

The Operational Context Imperative

 

 

With the introduction of the CCM, Celonis is defining a new critical layer in the enterprise technology stack — the context layer. This layer unifies process data, business knowledge, operational and decision intelligence to ground Enterprise AI in reality and power its effective execution — continuously evolving as it learns from actions and outcomes across the business.

 

 

“AI is only as good as the context it has. Every organization needs to give its Enterprise AI a holistic, living model of how a business truly operates. This has never been possible until now, with the Celonis Context Model,” said Carsten Thoma, Celonis President. “And with Ikigai Labs, we’re making our market-leading platform even stronger: extending its intelligence beyond how your business runs today to how it should — and could — run tomorrow. This is what every enterprise needs to make AI work and deliver meaningful returns.”

 

 

“Precision is paramount in the healthcare industry, and you can’t accept AI that’s only right most of the time,” said Jerome Revish, SVP/Chief Technology Officer, Digital and Technology Services, Cardinal Health. “We use AI as a tool to accelerate operational insight — process context enables agents to support our team in acting with precision. Defining guardrails then gives us the confidence to act. Ultimately, context is what makes the difference between AI that’s impressive in a demo and AI that’s trusted and safe to deploy.”

 

 

“Our goal at Cosentino is to build a digital workforce of AI agents that can run and improve our business operations at scale. What we’ve learned is that an agent is only as good as the context you give it,” said Rafael Domene, CIO, Cosentino. “When you provide AI with a real understanding of your processes — the data, the business rules, the decision logic — it stops being a tool you experiment with and becomes one you trust to act. That’s what makes the difference between an agent that makes a recommendation and one that runs a process.”

 

 

“At Mondelez International, we’re in the middle of one of the most consequential technology transformations in our history while simultaneously building the foundation for agentic AI, with strong initial focus on improving our E2E flows and global shared services,” said Filippo Catalano, Chief Information and Digital Officer, Mondelez International. “We’ve learned you cannot sustainably deploy and run trusted AI agents across a landscape as complex and varied as ours, unless those agents understand and act based on the reality of how your processes run across every market, system, and function – not just how they were designed in theory. Operational context isn’t a nice-to-have; it’s the assurance for AI investments generating real value versus adding another layer of complexity.”

 

 

AI Agents You Can Trust

 

 

The acquisition will unite Ikigai Labs’ world-class talent — with deep expertise in AI, machine learning, tabular and time-series modeling, causal inference, and large-scale simulation — with the global Celonis team. Ikigai Labs was founded on nearly two decades of groundbreaking MIT research, and their experts have worked with some of the world’s most complex enterprises to reduce planning and forecasting cycles in areas like supply chain from months to minutes. As part of the agreement, Celonis will gain exclusive rights to MIT-owned patents, which Ikigai Labs had licensed from MIT, and MIT will become a shareholder in Celonis.

 

 

“Ikigai Labs was built on a simple but firm conviction: better enterprise decisions require AI that works with enterprise data. Ikigai Labs has proven foundation model technology for structured data at scale; Celonis has encoded enterprise processes. Together, we provide the fullest operational representation of business reality,” said Devavrat Shah, Ikigai Labs co-Founder, Chaired Professor of AI at MIT, and Chief Scientist, Enterprise AI at Celonis. “With the Celonis Context Model, AI agents have the hindsight, insight and foresight to intelligently adapt — and can be trusted to deliver the expected business outcomes. I am excited to continue our mission with Alex, Basti, Carsten, Martin and the entire Celonis team.”

 

 

The Context Model Powers the Trusted Platform to Industrialize Enterprise AI

 

 

The Celonis Platform and ecosystem provide end-to-end capabilities to analyze, design, and operate AI-driven processes and drive business transformation. The Platform enables customers to not just give AI the context it needs, but also to identify the best opportunities to deploy AI strategically, and to orchestrate agents, humans, and systems to work together.

 

 

Celonis has partnered with the leaders in both the underlying data layer and the agentic execution layer to build this new context layer that bridges the two. The Celonis Platform brings data together from across the enterprise with zero-copy integrations to sources like AWS, Databricks and Microsoft Fabric (with Snowflake to be available soon), as well as pre-built connectors to systems of record like Oracle and other leading ERP and CRM platforms. Celonis has also built deep integrations with the leading agentic platforms — including Amazon Bedrock, Anthropic’s Claude Cowork, Databricks Agent Bricks, IBM watsonx Orchestrate, Microsoft Copilot and Agent365, and Oracle OCI Enterprise AI — ensuring that, however customers are building agents, the Context Model is accessible and consumable by them.

 

 

“Enterprise AI faces a reliability gap because scale isn’t enough; agents need a deep understanding of how a business actually runs,” said Heather Akuiyibo, Global VP, GTM Integration, Databricks. “By combining Celonis with the Databricks platform, companies can enable their employees to chat with their data and get trusted answers instantly with Genie and build, govern, and operationalize AI with Agent Bricks. And they can do this all with the Celonis business context required to make better decisions, faster.”

 

 

The Future of the Enterprise is AI-Driven and Composable

 

 

Celonis views the Context Model as an important step in the journey to the AI-driven, composable enterprise. In this future operating model, organizations’ systems, data, processes, people, and AI agents work together with shared context, allowing them to improve continuously, adapt instantly, and innovate freely.

 

 

“Celonis already sits at the operational core of thousands of the world’s largest enterprises, capturing how work actually happens at unprecedented depth,” said Sandesh Patnam, Managing Partner, Premji Invest. “Layering Ikigai Labs’ simulation and decision intelligence on that foundation creates a flywheel where every operational signal becomes a sharper decision and every decision sharpens the operational model – a moat competitors will struggle to replicate.”

 

 

“This is our context graph thesis made real. Celonis has built the deepest operational understanding of how enterprises actually function — as a live, process-native model of how work happens, why it breaks, and what should happen next,” said Ashu Garg, General Partner, Foundation Capital. “With the acquisition of Ikigai Labs, they’ve added the decision intelligence and simulation capabilities that make it truly effective. The companies that control this layer will define the next era of enterprise software. Celonis is that company.”

 

 

Celonis’s acquisition of Ikigai Labs is expected to close imminently, subject to standard closing procedures.

 

 

Learn more about the Celonis Context Model and the company’s acquisition of Ikigai Labs at Celonis:Next on May 19 or at an upcoming Process Intelligence Day.

 

 

About Celonis

 

 

Celonis makes processes work — for people, companies, and the planet. The Celonis Platform combines process data, business knowledge, and decision intelligence to provide Enterprise AI the operational context it needs to succeed. Thousands of the world’s leading companies trust Celonis and its ecosystem of global partners to industrialize AI, building and deploying AI-driven, composable solutions and unlocking meaningful, compounding value.

 

 

Celonis is headquartered in Munich, Germany, and New York City, USA, with more than 20 offices worldwide.

 

 

© 2026 Celonis SE. All rights reserved. Celonis and the Celonis “droplet” logo are trademarks or registered trademarks of Celonis SE in Germany and other jurisdictions. All other product and company names are trademarks or registered trademarks of their respective owners.

 

 

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260512279732/en/

 

 

 

Business Wire India

Today, Venture Global, Inc. (NYSE: VG) announced the execution of two binding agreements with TotalEnergies and Vitol for the purchase of additional U.S. liquefied natural gas (LNG) from Venture Global.

 

Venture Global announced a new, binding agreement with TotalEnergies for the purchase of approximately 0.85 MTPA of LNG from Venture Global for approximately five years commencing in 2026. Separately, Venture Global and Vitol agreed to increase their existing five-year binding LNG agreement to 1.7 MTPA, up from 1.5 MTPA previously agreed and announced in March 2026. Both agreements will be supplied from Venture Global’s portfolio.

 

 

“Venture Global is proud to deepen our partnerships with premier global energy companies like Vitol and TotalEnergies,” said Venture Global CEO Mike Sabel. “These agreements reflect the continued confidence and trust in our ability to deliver reliable, low-cost U.S. LNG to global markets quickly and at scale as demand for energy security continues to grow. By offering customers short-, medium-, and long-term supply options, we are providing the flexibility and certainty they need to deliver LNG where it is needed most.”

 

 

About Venture Global

 

 

Venture Global is an American producer and exporter of low-cost U.S. liquefied natural gas (LNG) with over 100 MTPA of capacity in production, construction, or development. Venture Global began producing LNG from its first facility in 2022 and is now one of the largest LNG exporters in the United States. The company’s vertically integrated business includes assets across the LNG supply chain including LNG production, natural gas transport, shipping and regasification. The company’s first three projects, Calcasieu Pass, Plaquemines LNG, and CP2 LNG, are located in Louisiana along the Gulf of America. Venture Global is developing Carbon Capture and Sequestration projects at each of its LNG facilities.

 

 

About TotalEnergies

 

 

TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.

 

 

About Vitol

 

 

Vitol is a leader in energy and commodities. Vitol produces, manages and delivers energy and commodities, including metals, to consumers and industry worldwide. In addition to its primary business, trading, Vitol is invested in infrastructure globally, with $13+billion invested in long-term assets. Founded in Rotterdam in 1966, today Vitol serves its customers from some 40 offices worldwide. In 2025 Vitol delivered over 600mTOE of energy and had revenues of $340bn.

 

 

Vitol is a long-established participant in LNG markets, having commenced LNG trading in the mid-2000s. It has a diversified global LNG portfolio of contracts and equity positions, enabling it to provide customers with tailor-made supply solutions on a short and long-term basis. In 2025 Vitol delivered 23mMT of LNG and delivered 1,800TWh of natural gas.

 

 

Forward-looking Statements

 

 

This press release contains forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements, other than statements of historical facts, included herein are “forward-looking statements.” In some cases, forward-looking statements can be identified by terminology such as “may,” “might,” “will,” “could,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “pursue,” “target,” “continue,” the negative of such terms or other comparable terminology.

 

 

These forward-looking statements, which are subject to risks, uncertainties and assumptions about us, may include statements about our future performance, our contracts, our anticipated growth strategies and anticipated trends impacting our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements. Those factors include our need for significant additional capital to construct and complete future projects and related assets, and our potential inability to secure such financing on acceptable terms, or at all; our potential inability to accurately estimate costs for our projects, and the risk that the construction and operations of natural gas pipelines and pipeline connections for our projects suffer cost overruns and delays related to obtaining regulatory approvals, development risks, labor costs, unavailability of skilled workers, operational hazards and other risks; the uncertainty regarding the future of global trade dynamics, international trade agreements and the United States’ position on international trade, including the effects of tariffs; our dependence on our EPC and other contractors for the successful completion of our projects, including the potential inability of our contractors to perform their obligations under their contracts; various economic and political factors, including opposition by environmental or other public interest groups, or the lack of local government and community support required for our projects, which could negatively affect the permitting status, timing or overall development, construction and operation of our projects; and risks related to other factors discussed under “Item 1A.—Risk Factors” of our annual report on Form 10-K for the year ended December 31, 2025 as filed with the Securities and Exchange Commission (“SEC”) and any subsequent reports filed with the SEC. Any forward-looking statements contained herein speak only as of the date of this press release and are based on assumptions that we believe to be reasonable as of this date. We undertake no obligation to update these statements to reflect subsequent events or circumstances, except as may be required by law.

 

 

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260512456805/en/

 

Business Wire India

Internationally acclaimed slide guitarist Pandit Debashish Bhattacharya is set to undertake a major international concert and cultural outreach tour across France and the United States, further strengthening the global presence of Indian classical music and the uniquely evolved Indian classical slide guitar tradition pioneered by him over the past several decades.

The international engagements will begin in France, where Pandit Debashish Bhattacharya will conduct a four-day workshop series along with two concerts focused on Indian classical slide guitar, raga music and musical exchange. This will be followed by an extensive eight-week concert tour across the east and west coasts of the United States with his son, Shri Suryadipta Bhattacharya.

A major highlight of the US tour will be their participation in the annual Ragas Live Festival in Brooklyn, New York, one of the globally recognised platforms celebrating Indian classical music traditions. The tour will also feature performances in Roanoke, Virginia and Frederick, Maryland, where the father-son duo will present a special thematic concert titled Slide Beyond the Borders.

Pandit Debashish Bhattacharya is regarded as one of the most pioneering and influential figures in contemporary Indian classical music and is globally celebrated for transforming the slide guitar into a profound instrument of Bharatiya Shastriya Sangeet. Through decades of innovation, performance and training, he has elevated the instrument beyond its conventional Western and Hawaiian associations into a deeply expressive medium capable of conveying the spiritual, melodic and rhythmic complexities of raga music.

Beginning his journey at the age of fifteen, his most path-breaking contribution came through the creation of the Chaturangui — a revolutionary reinterpretation of the traditional six-string Hawaiian guitar. By introducing sympathetic and drone strings along with a completely redesigned tonal architecture, he developed a uniquely Indian classical slide guitar capable of producing layered resonance, sustained tonal depth and intricate melodic expression. The innovation fundamentally altered the sonic identity of slide guitar in Indian classical music and established a new global benchmark for the instrument.

His artistic journey has been shaped not only by innovation and international acclaim but also by years of perseverance and struggle. At a time when slide guitar had limited acceptance within Hindustani classical music, his efforts were often met with scepticism and lack of institutional support. Despite technical challenges in developing custom instruments and the imitation of his innovations, he continued to perform, create and teach with unwavering dedication, eventually transforming the instrument into an internationally respected classical discipline.

Equally significant has been his development of advanced finger-picking techniques and highly nuanced slide bar movements that enabled seamless meend, microtonal precision and vocal-style phrasing known as gayaki ang. Drawing inspiration from the meditative expansiveness of dhrupad and the ornamentation of khayal, he evolved a holistic sampoorna gayaki approach on the instrument. His innovations in layakari, rhythmic improvisation, thumri-style expression and multiple forms of jhala have considerably expanded the expressive vocabulary of slide guitar.

His visionary craftsmanship also led to the development of three additional instruments — Gandharvi, Pushpa Veena and Anandi — each representing distinct sonic and structural innovations. Together with the Chaturangui, these instruments form a complete ecosystem that has elevated the slide guitar into a globally respected voice of Indian classical music while expanding its artistic and cultural possibilities.

Beyond performance and invention, Pandit Debashish Bhattacharya has inspired a larger musical movement that has encouraged thousands of students and musicians across India and abroad to adopt slide guitar as a serious medium for raga music. Many of his disciples have emerged as performers, educators, recording artistes and international touring musicians, carrying his musical vision to newer generations.

Among the prominent torchbearers of this continuing family legacy are his daughter Anandi Bhattacharya and his son Suryadipta Bhattacharya, who continue to carry forward the artistic and cultural vision of their father and Guru alongside a growing global community of slide guitar practitioners.

Pandit Debashish Bhattacharya’s innovations have also generated broader cultural and economic impact. The increasing popularity of the Chaturangui has inspired instrument makers in India and overseas, including Australia, to create variations of the instrument, opening new avenues in craftsmanship and international cultural exchange.

Deeply committed to preserving and propagating Indian culture, he continues his mission through Akhil Bharatiya Sangeet Kala Ratna Sabha, a non-profit initiative dedicated to introducing younger generations to Indian classical music and his slide guitar innovations. Through collaborations, performances and educational initiatives, he continues to promote Indian Sanskriti among audiences across the world.

His recent performances in India include concerts at the National Centre for the Performing Arts (NCPA Mumbai), Sankat Mochan Mandir Hanuman Janmotsav, the Hanumant Award and a concert at Chitrakut Dham under the blessings of Morari Bapu, Rita Chhanda Festival at GD Birla Sabhagar Kolkata, ABSKRS Annual Concert at Sambad-GD Birla Sabhagar Kolkata, Uttarpara Sangeet Chakra Annual Festival, Hyderabad Jadavpur Alumni Festival and the all-night Omkar Festival in Kolkata.

Among his future initiatives are the creation of a comprehensive archive of more than 5,000 original slide guitar compositions, the establishment of dedicated creative spaces for emerging musical talent and the continued global propagation of Indian traditional music through education, collaboration and innovation.

Pandit Debashish Bhattacharya today represents a rare confluence of innovation, tradition, craftsmanship and cultural vision. Through his pioneering work, he has transformed the slide guitar into a globally celebrated voice of Indian classical music while nurturing a continuing movement that inspires generations of musicians worldwide.

https://www.debashishbhattacharya.com/