Australian aviation software supplier Avinet announced the close of a growth equity recapitalisation with Arcadea Group, a 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 products. Financial details were not disclosed.
“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 incredible complex and mission-critical to operating safely and profitably.”
Daniel Eisen, managing director and 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.”
Avinet is an Australian-based, high-growth SaaS supplier of mission-critical safety management system, flight operations, and training and certification management solutions to the General Aviation and Part 121 market segments with clients in 50 countries comprising some of the most complex, high-standard customers across the globe.
For Editorial Inquiries Contact:
Editor Matt Driskill at matt.driskill@asianaviation.com
For Advertising Inquiries Contact:
Head of Sales Kay Rolland at kay.rolland@asianaviation.com
