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AvSight Announces $20mm Strategic Growth Equity Investment with Arcadea Group.

PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.
January 11, 2023 GMT

TORONTO & BOONE, N.C.--(BUSINESS WIRE)--Jan 11, 2023--

AvSight, a leading provider of cloud-based, full-suite ERP and operations management software to MRO, Parts, and Leasing businesses within the aviation software market, has completed a major growth equity investment with Arcadea Group, a long-hold, permanent capital software investor focused on industry-leading SaaS vendors around the world. As part of the transaction, Founders Scott Loescher and Fermin Gonzales, along with key leadership including Andrew Valley and Frank Scales, will continue in their roles while also maintaining significant equity interests in the business.

Founded in 2016 by Scott Loescher, CEO, and Fermin Gonzalez, CTO, AvSight is the only truly cloud-native product in the market, providing end-to-end business management software for customers with 5 to 2,000+ employees in North America, Europe, the Middle East, Australia, New Zealand, and South America.

The Company will use the growth equity investment to accelerate its product roadmap while bolstering services, delivery, and customer service, all in support of the Company’s tremendous growth.

“For a long time, the aviation aftermarket space has been dominated by legacy technology solutions. More and more, we’re seeing that forward thinking customers are tired of being held back by their software and are ready to embrace the modern digital solutions that AvSight offers. We’re excited about the opportunities for continued growth and product enhancements that this partnership will open up for us and the benefits it will bring to our customers.” said Loescher. He went on to mention, “Partnering with Arcadea was the obvious choice due to their deep software expertise in areas of product expansion and operational scaling, in addition to their existing presence in the aviation SaaS market.”

“We’re thrilled to partner with the AvSight team,” said Paul Yancich, Managing Director of Arcadea Group. He added, “Many vertical markets, including aviation MRO, are served by either fragile in-house systems or legacy offerings that are essentially digitalized paper. In contrast, the AvSight team have paired deep domain expertise with modern, cloud-based technologies that in combination materially advance how customers can do business. We’re excited to support the company’s ambitious product roadmap and help them support customers for decades to come.”

Daniel Eisen, Managing Director of Arcadea, said, “We’re lucky to be teaming up with Scott, Fermin and the entire AvSight team in support of their long-term growth objectives.” Ryan Beaver, Managing Director & Head of Value Creation at Arcadea, added, “The business is a perfect representation of the type of software businesses we focus on: capital efficient, vertically focused, and customer centric, with strong growth and the desire to change the markets they serve over the long-term.”

About AvSight

Established in 2016, AvSight is aviation’s most innovative complete software platform. This revolutionary cloud-based solution was designed by industry veterans specifically to meet the needs of aviation aftermarket suppliers and MRO facilities. AvSight combines inventory management, quotes, repairs, sales orders, and accounting into one seamless flexible application. For more information on AvSight, visit avsight.net.

About Arcadea Group

Arcadea Group invests in high-quality, capital efficient, typically founder-controlled software companies over ultra-long-term durations. Based in Toronto, Canada and Orlando, Florida and investing globally, Arcadea leverages its permanent capital structure and unmatched operating know-how to support with long-term growth potential and ambitions.

View source version on businesswire.com:https://www.businesswire.com/news/home/20230111005613/en/

CONTACT: Arcadea Group Inc.

Matt Kelly, Investment Development & Aviation Sector Lead

kelly@arcadeagroup.com

www.arcadeagroup.com

KEYWORD: UNITED STATES NORTH AMERICA CANADA NORTH CAROLINA

INDUSTRY KEYWORD: SOFTWARE DATA MANAGEMENT TECHNOLOGY AIR AEROSPACE TRANSPORT MANUFACTURING MOBILE/WIRELESS

SOURCE: Arcadea Group

Copyright Business Wire 2023.

PUB: 01/11/2023 12:32 PM/DISC: 01/11/2023 12:31 PM

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