Arcadea Group acquires Adelaide-based aviation software provider Avinet

Canada-based, private equity firm Arcadea Group has acquired Adelaide-based aviation software provider Avinet for an undisclosed sum. 

The software as a service (SaaS) provider and Arcadea Group declined to tell CRN the price of the acquisition, which Avinet said was "was confidentially agreed between the previous shareholders."

Avinet said in a statement that the investment would support the company to meet increased global demand for its aviation safety and operations management software. 

Avinet boss Aleks Banas said “the demand for purpose-built, highly functional and time-tested software within the general aviation and scheduled charter markets has never been higher.”

“With coming global regulations and customer mandates for SMS [safety management systems] 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 mergers and acquisitions.”

Arcadea Group said it invests in software companies that are “typically founder-controlled”.

Arcadea Group managing director and co-founder Daniel Eisen said “we are thrilled to support the company [Avinet], its customers and team for the long run.”

“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.”

Avinet’s main product is its AWS-based safety and operational management aviation system, Air Maestro, which the company sells to clients in medical rescue, law enforcement, transport, aerospace defence and commercial flight markets. 

Air Maestro is used for rostering, flight logging, incident reporting and managing pilot fatigue.

Its Australian customers include the Royal Flying Doctors Service, Toll Group, Western Australia Police, Northern Territory Police, Westpac Rescue Helicopter Service and Broome Aviation. 

Employer association South Australia Bussiness awarded Avinet its 2014 Export Award for best ‘Information and Communication Technology’ exporter.