Avinet, an Adelaide, Australia-based aviation safety and operations software provider, has closed a recapitalization transaction. No financial terms were disclosed. The deal was backed by Arcadea Group, a Canadian technology private equity firm, to support the company’s global growth and innovation.
PRESS RELEASE
March 29, 2022
TORONTO & ADELAIDE, Australia–(BUSINESS WIRE)–Avinet, the leader in Aviation Safety and Operations for complex & high-quality operators & carriers, announces the close of its significant growth equity recapitalization with Arcadea Group, the only permanent-capital growth equity investor in software companies globally.
The transaction will enable accelerated growth and innovation as the Company scales up to meet material global demand for its highly trusted suite of products.
“The demand for purpose-built, highly functional and time-tested software within the general aviation and scheduled charter markets has never been higher,” said Aleks Banas, CEO of Avinet. “With coming global regulations and customer mandates for SMS and Operations solutions, customers are not adequately served by legacy tech vendors or internal make-shift processes. This partnership with Arcadea Group will help us scale and continue to extend product leadership by way of stable, long-duration backing and Arcadea’s expertise in operations, strategy, and M&A.”
Paul Yancich, Managing Director of Arcadea Group, said, “The market feedback on Avinet’s team, product, and reputation were remarkable. Aviation customers leverage Avinet’s SMS and Operations products to solve problems that are incredibly complex and mission-critical to operating safely and profitably.”
Daniel Eisen, Managing Director & Co-founder of Arcadea Group, added, “Avinet is the quintessential example of what Arcadea Group has been established to serve: bootstrapped, high-growth SaaS businesses with dedicated, ambitious management teams and long-range potential. We are thrilled to support the Company, its customers and team for the long-run.”
About Avinet
Avinet is an Australian-based, high-growth SaaS supplier of mission-critical safety management systems, flight operations, and training & certification management solutions to the General Aviation and Part 121 market segments. Avinet supports clients in 50 countries comprising some of the most complex, high-standard customers across the globe.
About Arcadea Group
Arcadea Group invests in high-quality, independent, typically founder-controlled software companies over extremely long durations of time that no other private equity or growth equity firm can match. Based in Toronto and investing globally, Arcadea exclusively focuses on businesses with long-term growth potential and ambitions.
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