TORONTO & AUCKLAND, New Zealand--(BUSINESS WIRE)--Spidertracks, the market leader in aircraft tracking, fleet management, and aviation safety solutions, announces the close of a significant growth equity recapitalization with Arcadea Group, the only permanent-capital growth equity investor in software companies globally.
The transaction will enable sustained, strong growth and rapidly increased innovation as the Company scales up to meet global demand for its highly trusted suite of products, and as the market evolves to digital-first approach to operations.
“Our customers are facing increasingly more pressure to improve safety and operational controls in their businesses and the need for purpose built, end-to-end solutions has never been greater than it is today,” said Dave Blackwell, CEO of Spidertracks. “General Aviation has a very fragmented vendor base with lots of legacy tech suppliers and ad-hoc solutions. With impending mandates for SMS (Safety Management Systems) and a drive for digitization and productivity gains across the industry in general, operators have not been well positioned for success. This partnership with Arcadea Group will help accelerate Spidertracks’ vision of becoming the benchmark for aviation safety and fleet management and ultimately help our customers overcome these challenges. It was key for us to get the right partner on this journey and Arcadea Group were a clear winner with their long-term investment philosophy and their experience in operations, strategy and M&A.”
Paul Yancich, Managing Director of Arcadea Group, said, “We rarely see such a high regard by customers for a software company in our collective ~100 investments in SaaS.” He continued, “Our market research was clear – no other player has the scale, expertise, products or dependability to reliably meet market demands. By joining forces, Spidertracks now has an institutional-scale balance sheet and network of sister companies in the sector, making Spidertracks the clear leader in the market now and into the future.”
Daniel Eisen, Managing Director of Arcadea Group, added, “We are thrilled that the Founder of Spidertracks, James McCarthy, is joining us as a long-term equity partner in the next leg of this journey. As a repeat SaaS entrepreneur, we know he will add tremendously to the future path of the Company and all of Arcadea’s portfolio companies.”
James McCarthy noted, “I’m excited about this next phase of Spidertracks. As a founder it has been a delightful experience to work with Paul and Daniel on this transaction, of which our shared vision for an enduring business with product leadership in the GA space was cornerstone.”
Founded in 2007, Spidertracks is globally recognized as an industry leader, providing aircraft owners and operators fleet management, FDM/FOQA and aviation safety solutions. Delivering an integrated, end-to-end, software and hardware platform, their goal is making it simple for the operator, both from an install perspective and getting immediate access to usable and relevant flight data, resulting in increased safety, and operational efficiencies.
Spidertracks continues to push the boundaries and lead the way towards safer practices and more efficient operations, by breaking down the barriers of traditional flight data recording, providing aviators with a new level of valuable insights.
About Arcadea Group
Arcadea Group invests in high-quality, independent, typically founder-controlled software companies over durations of time that no private equity or growth equity firm can match. Based in Toronto and investing globally, Arcadea exclusively focuses on businesses with long-term growth potential and ambitions.
Arcadea offers unique exit & investment options for owners who prefer to see their businesses thrive and grow over the long-term rather than be perpetually flipped by financial buyers or swallowed up by strategic or volume aggregators.