ATP, a US provider of aviation software and information services, has secured additional investment from private equity firm Accel-KKR. The transaction follows Accel-KKR's initial investment in ATP back in mid-2020 in partnership with current investor ParkerGale Capital.
ATP is a source for aircraft technical publications and real-time regulatory information, and a provider of maintenance, operations, inventory, repetitive defect analysis and troubleshooting software. The company's applications aim to reduce operating costs, improve aircraft reliability and support technical knowledge sharing and collaboration.
"Since AKKR's initial investment in the company, we have seen up-close the sizeable opportunities for ATP together with Flightdocs, and for the aviation software industry at large," says 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."
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," concludes 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."