COMPANY NEWS: Avinet, the leader in safety and flight operations for high-quality, complex operators and carriers, announces the closing of its major growth equity recapitalization with Arcadea Group, the sole growth equity investor in permanent capital in software companies worldwide.
The transaction will accelerate growth and innovation as the company expands to meet significant global demand for its suite of highly reliable products.
“The demand for purpose-built, highly functional and time-tested software in the general aviation and scheduled charter markets has never been higher,” said Aleks Banas, CEO of Avinet. “With upcoming global regulations and customer mandates for SMS and Operations solutions, customers are not being properly served by legacy technology vendors or internal makeshift processes. This partnership with Arcadea Group will help us scale and continue to expand our product leadership through stable, long-term support and Arcadea’s operations, strategy, and M&A expertise.
Paul Yancich, Managing Director of Arcadea Group, said: “Market feedback on Avinet’s team, product and reputation has been outstanding. Aviation customers leverage Avinet’s SMS and Operations products to solve incredibly complex problems critical to safe and profitable operations.
Daniel Eisen, CEO and co-founder of Arcadea Group, added: “Avinet is the prime example of what Arcadea Group was created for: high-growth SaaS companies with dedicated and ambitious management teams and long-term potential. We are delighted to support the company, its customers and its team for the long term.
Avinet is an Australia-based, fast-growing SaaS provider of critical safety management systems, flight operations, and training and certification management solutions for the general aviation and airline market segments. Part 121 with clients in 50 countries including some of the most complex, high profile clients worldwide.
About Arcadea Group
Arcadea Group invests in high quality, independent software companies, typically controlled by their founders, over typically extremely long terms that no private equity or private equity firm can match. Based in Toronto and investing globally, Arcadea focuses exclusively on companies with long-term growth potential and ambitions.
For more information visit: www.avinet.com.au
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