ParkerGale Partners-Up for ATP Expansion

As part of this transaction, Accel-KKR has actually made a minority equity financial investment in ATP and provided financial obligation funding through Accel-KKR Credit Partners. ParkerGale maintains bulk equity ownership of ATP.

ATP sells parts and maintenance data as well as workflow management software to business that fix and maintain little aircrafts. ParkerGale acquired ATP from founding household member and CEO Caroline Daniels in November 2015.

” We have actually been trying to convince Flightdocs owners to join the ATP household for a couple of years, and we are so delighted to have finally put the business together,” said Devin Mathews, the co-founder of ParkerGale. “We have enthusiastic strategies for ATP as one of the biggest air travel software application business and we are excited to have Accel-KKRs assistance in the venture. We could not be better with the collaboration in between our companies.”

Chicago-based ParkerGale makes control investments in profitable innovation companies that have at least $2 million of EBITDA. Companies with subscription or transaction-based revenue models are chosen. The company was established by five previous members of Chicago Growth Partners– Devin Mathews, Dave Chandler, Jim Milbery, Kristina Heinze and Ryan Milligan.

According to ParkerGale, the mix of ATP and Flightdocs develops one of the biggest suppliers of software application and information services within the air travel industry, supporting over 75,000 upkeep specialists throughout more than 7,500 consumers in over 130 countries.

New York City City-based Argentum invests from $5 million to $15 million of development equity in B2B software application, technology-enabled, and company services business that have profits of $5 million to $25 million. In its 30-year history, Argentum has actually purchased 87 business and supported nearly 200 add-on acquisitions.

” Our collaboration with Argentum has been a definite success,” said Rick Heine, CEO and creator of Flightdocs. “As a rapidly growing and lucrative bootstrapped company, Flightdocs did not need any outside financing nevertheless Argentum promised to bring more to the table than simply growth capital. Argentum directly originated a number of significant strategic and consumer wins including Boeing and Textron, sourced a robust pipeline of acquisition targets, and played an important part in accelerating our development, producing significant value, and achieving an extremely successful outcome.”

Flightdocs is a service provider of SaaS-based flight department management services that are used by aircraft producers, owners, and operators to track and handle the upkeep and airworthiness of airplane, comply with safety rules and regulatory standards, lower costs, alleviate risks, and minimize aircraft downtime.

” We are excited to support ATPs acquisition of Flightdocs to develop a special combination of mission-critical options for the business air travel industry that help make flying more secure and more reliable,” said Joe Porten, a principal at Accel-KKR. “ParkerGale has a track record of investing in quality, founder-run, rewarding growth-oriented software business, which lines up well with Accel-KKR and we eagerly anticipate working with both ParkerGale and the ATP management group in the coming months and years.”

Consumers of Flightdocs include Fortune 500 corporate flight departments, air charters, air medical suppliers, fractional airplane operators, federal government agencies and local providers. The business, founded in 2003, is based south of Fort Myers in Bonita Springs, Florida. Argentum first invested in Flightdocs in October 2017 and was the businesss first and just outside investor.

Accel-KKR purchases both majority ownership situations by means of its buyout funds, and minority equity positions through its structured capital funds. The company buys middle-market software application and IT-enabled organisation services companies. Accel-KKR was founded in 2000 and is headquartered in Menlo Park with additional workplaces in Atlanta and London.

” It has been a benefit working as Flightdocs partner and were grateful to Rick for providing us the opportunity to help the company throughout this vital stage of development,” stated Chris Leong, a partner at Argentum. “We have actually seriously taken pleasure in working side-by-side with the businesss management team and we congratulate the entire Flightdocs organization and wish them continued success as part of the ATP platform.”

Flightdocs, a portfolio business of Argentum, has been sold to Aircraft Technical Publishers (ATP), a portfolio company of ParkerGale Capital.

Private Equity Professional|June 25, 2020

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Argentum first invested in Flightdocs in October 2017 and was the companys just outside and first financier.

ATP sells parts and maintenance data as well as workflow management software to companies that fix and maintain small planes.” We have actually been trying to encourage Flightdocs owners to sign up with the ATP family for a couple of years, and we are so pleased to have lastly put the companies together,” stated Devin Mathews, the co-founder of ParkerGale. “We have enthusiastic strategies for ATP as one of the largest aviation software companies and we are delighted to have Accel-KKRs assistance in the venture. Chicago-based ParkerGale makes control investments in lucrative innovation companies that have at least $2 million of EBITDA.

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