Accel-KKR and ParkerGale backed ATP in its acquisition of FlightDocs, a provider of maintenance tracking software for the business aviation industry.
The amount of the deal was not disclosed.
Founded nearly fifty years ago, 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.
With Flightdocs joining the ATP family, the combined company will become a leader in the aviation industry by providing a comprehensive range of technical publications, troubleshooting, diagnostics and maintenance workflow solutions under one umbrella. The combined company now supports 75,000 maintenance professionals across more than 7,500 customers in 137 countries.