ParkerGale Capital has acquired Aircraft Technical Publishers from founding family member and CEO Caroline Daniels. Upon closing of the acquisition, ParkerGale named Charles Picasso, a co-investor on this transaction, as ATP’s new CEO.
Aircraft Technical Publishers (ATP) sells parts and maintenance data as well as workflow management software to companies that repair and maintain small airplanes. This is the general aviation market, which includes tens of thousands of maintenance, repair and overhaul (MRO) and fixed based operator (FBO) service providers. ATP customers buy products on an annual subscription basis and the company currently has about 17,000 subscribers.
According to ParkerGale, ATP is the only organization that integrates information directly from more than 54 of the world’s leading manufacturers to create the industry’s most comprehensive repository of technical, operating, and regulatory data. ATP was founded in 1973 and is headquartered in San Francisco (www.atp.com).
“For over 40 years, ATP has operated as the market leader of information services for general aviation maintenance operations,” said Ms. Daniels. “It was important to me to find the right parties to take the business forward which I found in both Charles Picasso and the ParkerGale team.”
Mr. Picasso, the new CEO of ATP, has decades of senior management experience with companies active in enterprise software and business and IT services. “I’m looking forward to working with our partners and clients, who can expect to receive the same level of service excellence from ATP, as well as look forward to exciting new developments on the horizon,” said Mr. Picasso. “It’s an honor to take the helm of an organization with such an esteemed history in the industry and lead ATP into a new era of growth.”
ParkerGale Capital makes control investments in profitable technology enabled services companies that have from $2 million to $6 million in profits and are based in North America. The firm was founded in 2014 by five former members of Chicago Growth Partners – Devin Mathews, Dave Chandler, Jim Milbery, Kristina Heinze and Ryan Milligan. ParkerGale is headquartered in Chicago (www.parkergale.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 11-19-15