Veronis Suhler Stevenson (VSS) has made an investment in Navtech, a provider of flight operations software and tools for the commercial aviation industry. The VSS investment was made through its second structured capital fund, VSS Structured Capital II.
Navtech provides aeronautical products and services including aeronautical charts, navigational data and flight planning, aircraft performance and crew planning services. Customers include commercial airlines, cargo carriers, general aviation services providers and others. The company is headquartered in Toronto with offices in London and Stockholm (www.navtech.aero).
“We believe that Navtech’s state of the art, SaaS applications are well positioned to help airlines increase safety, maximize efficiency, and reduce operating costs,” said David Bainbridge, Partner, VSS Structured Capital Funds. “With its recently upgraded product portfolio, the company will continue to capture global market share and lead the development of an electronic flight bag solution.”
Current investors in Navtech include Cambridge Information Group which took Navtech private in 2007, and Externalis which first invested in Navtech in 2001. Cambridge Information Group is a family owned management and investment firm, primarily focused on information services, education and technology. The firm is based in New York with an additional office in Bethesda, MD (www.cig.com). Externalis is an industrial holding company owned by Alain Mallart. The company is based in Belgium (www.externalis.be).
“VSS is pleased to partner with Cambridge Information Group, a well-established family business that has years of experience in the information services industry,” said Hal Greenberg, Partner, VSS Structured Capital Funds. “We have very similar investment philosophies and industry focuses and we look forward to helping them expand this platform.”
Veronis Suhler Stevenson is a private equity and debt capital fund management company that invests in the media, information and education industries in North America and Europe. The firm provides capital for buyouts, recapitalizations, growth financings and strategic acquisitions to companies and management teams in order to build companies both organically and through add-on acquisition programs. Since the closing of the first VSS buyout fund in 1987, VSS has managed four buyout funds and two structured capital funds with aggregate committed capital in excess of $3.1 billion. The six funds have to date invested approximately $2.8 billion in 73 portfolio companies which have in turn completed over 320 add-on acquisitions. Veronis Suhler Stevenson is based in New York (www.vss.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 6-11-13
