TakeoverPE & activists

VVXV2X, Inc.

Services-Facilities Support Management Services · $2.5B market cap · 16,200 employees

4.1×

More likely than average to be taken private

Top 2% of the Russell 3000 for a buyout by a private-equity firm, holdco or insiders. How it works

Takeover signals

What an activist or buyer would see: cheap, overpaid, diluted or under pressure.

5of 15 firedHow well they predict deals →
10 other checks
  • TSR below peersNo
    —
    3+ of last 5 years
  • High CEO pay despite TSRNo
    —
    Median CEO pay ≥ $15M while TSR trails
  • Earnings not backed by cashNo
    234% of net income
    Cash flow under 80% of net income
  • Dilutive SBCNo
    0% of revenue
    Over 10% of revenue
  • Payouts exceed cash flowNo
    16% of cash flow
    Buybacks + dividends over cash flow
  • Shareholder dissentNo
    99% lowest support
    Any vote under 80% support
  • Low revenue per employeeNo
    $277K · 48th pct
    Bottom quartile of its SIC industry
  • Quiet on AINo
    2.8 per 10K words · 67th pct
    Bottom quartile of AI mentions in 10-Ks
  • Net cashNo
    0.2× EBITDA net debt
    More cash than debt, positive EBITDA
  • AI-rollup shapedNo
    2 of 10
    10-K business scored 5+ of 10 as an AI-rollup target

Deal filings

FiledFormAcquirerPricePremium
May 9, 2022DEFM14AAmerican Industrial Partners Capital Fund VI, L.P.$96.8337.75%
Apr 27, 2022PREM14AVertex Aerospace Services Holding Corp.$109.2230.25%

Key numbers

Revenue
$4.5BFY2021: $1.8BFY2022: $2.9BFY2023: $4.0BFY2024: $4.3BFY2025: $4.5B
3.7% YoY
Operating margin
4.3%FY2021: 3.5%FY2022: 1.9%FY2023: 3.1%FY2024: 3.7%FY2025: 4.3%
18% YoY
EBITDA
$211MFY2021: $69MFY2022: $69MFY2023: $147MFY2024: $180MFY2025: $211M
17% YoY
Net debt / EBITDA
0.2×
$35M net debt

Financials

MetricFY2021FY2022FY2023FY2024FY2025YoYTrend
Revenue$1.8B$2.9B$4.0B$4.3B$4.5B 3.7% FY2021: $1.8BFY2022: $2.9BFY2023: $4.0BFY2024: $4.3BFY2025: $4.5B
Operating income$62M$56M$124M$159M$194M 22% FY2021: $62MFY2022: $56MFY2023: $124MFY2024: $159MFY2025: $194M
Net income$46M−$14M−$23M$35M$78M 125% FY2021: $46MFY2022: −$14MFY2023: −$23MFY2024: $35MFY2025: $78M
Operating cash flow$61M$93M$188M$254M$182M 28% FY2021: $61MFY2022: $93MFY2023: $188MFY2024: $254MFY2025: $182M
Capex$10M$12M$25M$12M$12M 1.2% FY2021: $10MFY2022: $12MFY2023: $25MFY2024: $12MFY2025: $12M
Stock-based comp$8M$33M$33M$16M$12M 25% FY2021: $8MFY2022: $33MFY2023: $33MFY2024: $16MFY2025: $12M
Buybacks——$0$0$30MFY2023: $0FY2024: $0FY2025: $30M

13D filers

FiledFilerFormStakeIntent
May 13, 2026American Industrial Partners Capital Fund VI, L.P.SCHEDULE 13D/A1.2%Passive
Mar 16, 2026American Industrial Partners Capital Fund VI, L.P.SCHEDULE 13D/A7.9%Passive
Dec 15, 2025American Industrial Partners Capital Fund VI, L.P.SCHEDULE 13D/A16.1%Passive
Nov 17, 2025American Industrial Partners Capital Fund VI, L.P.SCHEDULE 13D/A19.9%Passive
Sep 15, 2025American Industrial Partners Capital Fund VI, L.P.SCHEDULE 13D/A26.9%Active
Aug 13, 2025American Industrial Partners Capital Fund VI, L.P.SCHEDULE 13D/A32.3%Passive
May 21, 2025American Industrial Partners Capital Fund VI, L.P.SCHEDULE 13D/A38.4%Passive
Nov 18, 2024American Industrial Partners Capital Fund VI, L.P.SC 13D/A44.9%Passive
Sep 16, 2024American Industrial Partners Capital Fund VI, L.P.SC 13D/A53.2%Passive
Sep 10, 2024American Industrial Partners Capital Fund VI, L.P.SC 13D/A54.4%Passive

Insider trading

−$488Mnet selling by insiders, open market, last 12 months
Bought $0 · 0 tradesSold $488M · 6 trades

Pay vs performance

No pay-versus-performance disclosure yet.