LAS VEGAS, Nov. 17, 2015 (GLOBE NEWSWIRE) -- ParkerGale Capital, LP announced today its acquisition of Aircraft Technical Publishers (ATP), the general aviation industry's only single-source provider of information management and services for manufacturers, owners/operators, and maintenance providers.
Founded in 1973, ATP is the only single-source provider offering information management and services to promote safety and compliance in the aviation industry. ParkerGale is purchasing ATP from founding family member and CEO Caroline Daniels.
“For over 40 years, ATP has operated as the market leader of information services for general aviation maintenance operations,” said 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.”
Picasso, former CEO of IHS Inc. (NYSE:IHS), was named CEO of ATP upon closing.
“I am excited about the opportunity to partner with ParkerGale to lead ATP and build upon the achievements of Caroline and her team,” said Picasso. “ATP represents the ideal platform to further the development of information management solutions for our general aviation customers in order to drive greater safety, compliance, and efficiency.”
“Caroline built an outstanding company and Charles Picasso has a proven track record of successfully growing companies focused on delivering mission critical information and services,” said Devin Mathews, Partner at ParkerGale Capital. “We’re excited to work with him and the rest of the ATP team to continue building a great business.”
Aircraft Technical Publishers (ATP) is the general aviation industry's only single-source provider of information management and services for manufacturers, operators/owners, and maintenance providers. The San Francisco Bay Area-based company helps businesses manage all of their maintenance processes—from maintenance and compliance tracking to inventory management—on a unified cloud based SaaS platform. ATP helps more than 23,000 users in 96 countries and 54 manufacturers ensure the highest levels of safety, compliance, and productivity. For more information, please visit www.atp.com
About ParkerGale Capital
ParkerGale Capital was founded in 2015 to invest in small tech and tech-enabled services companies. ParkerGale was built to meet the needs of founders in situations where we can bring talented resources to the table. Based in Chicago, IL, ParkerGale takes control positions in businesses across North America. For more information, please visit www.parkergale.com.