Flight Training Management software provider FlightLogger announced the close of its growth equity recapitalization with Arcadea Group, the only permanent-capital growth equity investor in software companies globally.
The transaction will see FlightLogger’s Founder, Kenneth Jeppesen, maintain a material equity stake and continue in his role as CEO, leading the business through accelerated growth, innovation, and geographic expansion.
“Flight schools – from ab initio, to type rating, and everything in between – are increasingly demanding a modern, cloud-native solution to help administer their business, a clear departure from the legacy vendors that exist in this market,” said Kenneth Jeppesen, CEO. “The demand for our products and services has never been stronger. Having been pursued by many investors and acquirors, Arcadea was the obvious choice given their expertise in investing and operating businesses like mine, and given their long-term approach to growth that no other firm seems to offer in the market.”
Paul Yancich, managing director & co-founder of Arcadea Group, said, “We engaged with every vendor in this market in our search for the right partner. FlightLogger is the clear leader in Europe, Asia, Oceania, and, increasingly, North America. The feedback from both potential and current customers was resoundingly positive.” He went on to say, “It’s notable that FlightLogger’s founder and core team have direct aviation experience– customers get not just the best products on the market, but a team that lives and breathes their industry. We see this as being highly correlated with great products in vertical markets.”
“We’re thrilled to be joining forces with FlightLogger’s founder in this transaction,” said Daniel Eisen, managing director & co-founder of Arcadea Group. He added, “The business is a perfect fit for Arcadea as a bootstrapped, highly efficient software business that wasn’t interested in selling out to the volume aggregators, PE’s, or the strategics of the world. We look forward to partnering with and supporting Kenneth and the team in decades to come.”
FlightLogger CEO Jeppesen said being able to maintain a long-term approach was a crucial factor in partnering with Arcadea, “While other private-equity-owned players in the North American market are optimizing for a quick asset flip to yet another financial owner in the very short-term, FlightLogger customers can rest assured that the company will pursue a long-term, healthy vision that puts the customers – not financial buyers – first.”
FlightLogger will continue to be based in Denmark but will see global expansion of the team to support significant demand from a variety of international markets.