Accel-KKR and ParkerGale, two tech-focused private equity firms, have announced a partnership to back ATP in its acquisition of FlightDocs, a provider of maintenance tracking software for the business aviation industry, the company said.
ATP provides aircraft maintenance information, predictive diagnostics, and troubleshooting software to over 6,700 aviation customers worldwide. ParkerGale, a technology-focused buyout fund based in Chicago, acquired ATP in 2015 and subsequently added on CaseBank Technologies in 2016.
While ParkerGale retains majority ownership of ATP, Accel-KKR´s minority investment comes from Accel-KKR´s growth capital fund as well as credit financing from Accel-KKR Credit Partners. The combination of equity and debt funding demonstrates Accel-KKR´s flexible model for capital investment and the firm´s commitment to leveraging the right solutions to support management in achieving the company´s growth potential.
Kirkland & Ellis provided legal support for the transaction. Cafferty & Company provided debt capital markets support. Harris Williams provided ParkerGale with buyside advisory services.
ParkerGale Capital is a small private equity firm based in Chicago that buys profitable, founder-owned technology companies and corporate carve-outs where the firm´s operating resources can have a meaningful impact on the outcome.
Accel-KKR is a technology-focused investment firm with over USD 9 billion in capital commitments. The firm focuses on software and IT-enabled businesses.