ATP, a provider of aviation software solutions and information services, has secured an investment from Accel-KKR. NO financial terms were disclosed. ATP is backed by ParkerGale Capital.
MENLO PARK, Calif. and SAN FRANCISCO, Aug. 24, 2021 /PRNewswire/ — ATP, a leading provider of aviation software solutions and information services, today announced that it has secured a significant growth investment from Accel-KKR, a global technology-focused private equity firm. This transaction follows Accel-KKR’s initial investment in ATP in mid-2020 in partnership with existing investor ParkerGale Capital. The new investment will fuel continued market expansion for ATP and Flightdocs by accelerating go-to-market and M&A strategies in pursuit of the company’s vision of becoming the market leader in aviation information and workflow software solutions serving every segment of aviation.
ATP is the source for aircraft technical publications and real-time regulatory information, and the leading provider of maintenance, operations, inventory, repetitive defect analysis, and troubleshooting software. The company’s applications help reduce operating costs, improve aircraft reliability, and supports technical knowledge sharing and collaboration.
“Since AKKR’s initial investment in the company, we have seen up-close the sizable opportunities for ATP together with Flightdocs, and for the aviation software industry at large,” said Dean Jacobson, Managing Director of Accel-KKR. “Despite the changes in air travel brought on by the pandemic, flight maintenance and safety remain paramount to our customers. Our new investment today represents a strong continued vote of confidence in ATP, and in the exciting opportunities that lie ahead for the aviation software industry at large.”
“In our 50 years, we have a singular mission to make aviation safer and more reliable through innovative maintenance and diagnostic solutions, and today, ATP is the industry gold standard for innovation, reliability and quality in the aviation industry,” said Rick Noble, CEO of ATP. “Now with the additional investment and resources from Accel-KKR, along with the continued support from ParkerGale, the company is ready to write its next chapter, which is to harness its product leadership for accelerated growth.”
Accel-KKR initially partnered with ATP in June 2020 when the firm invested alongside ParkerGale, a technology-focused buyout fund based in Chicago, in backing ATP’s acquisition of Flightdocs. ParkerGale acquired ATP from its founder in 2015 and subsequently added on CaseBank Technologies in 2016.
“We have worked closely with ATP over the last six years to build a product-driven, customer-first software leader, and this investment from Accel-KKR validates our team’s hard work and market vision,” said Devin Mathews, ParkerGale co-founder and ATP Board member. “We are excited about our continued partnership with ATP and Accel-KKR in this next stage of growth for the Company.”
ATP is the leading provider of aviation software and information services. Our innovative product lines, including Flightdocs, Aviation Hub, ChronicX, and SpotLight, reduce operating costs, improve aircraft reliability, and support technical knowledge sharing and collaboration in all aviation and aerospace industry sectors.
The products and services of ATP support more than 75,000 aircraft maintenance professionals worldwide. As a global company, ATP has more than 7,500 customers in 137 countries and partnerships with over 90 OEMs. For more information, visit atp.com.