Adelaide, Australia-based aviation safety and operations software company Avinet has closed its significant growth equity recapitalisation with Toronto-headquartered 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 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,” says Avinet CEO Aleks Banas. “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.”
Arcadea MD Paul Yancich says: “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.”
Arcadea MD and co-founder Daniel Eisen adds: “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.”