Aircraft Technical Publishers (ATP) announced that Chicago-based private equity firm ParkerGale Capital has acquired the company and partnered with Charles Picasso, who has been named as the new CEO. Picasso says he will lead the company into a new era of growth with an expanded strategic vision that will leverage the company’s unique market position as the hub connecting mission critical information across the maintenance ecosystem.
The new ownership believes there are “tremendous untapped opportunities for the company to unlock value.” The new ownership says it will inject additional investment to build on ATP’s traditional core competencies of aggregating, organizing, and delivering content. ATP says its new vision will broaden the company’s focus from content management to become a services-oriented company that will enable customers to seamlessly manage all of their end-to-end maintenance processes—from compliance tracking to inventory management to maintenance forecasting—from a unified software as a service (SaaS) solution.
ATP will leverage the only single-source cloud-based SaaS platform designed specifically for maintenance providers—offering exceptional control, flexibility, and affordability—to create an integrated “smart content” suite of services. The SaaS solution is designed to optimize workflows and information management in order to drive dramatic improvements in productivity, efficiency, aircraft utilizations and value, while also preventing costly regulatory lapses.
The company also boasts a number of other assets it says will propel its growth, including the a comprehensive library of up-to-date maintenance, operating, and regulatory content, combined with a massive installed customer base—with more than 23,000 registered users across 96.
Picasso brings decades of experience successfully growing companies focused on delivering mission critical information and services—ranging from enterprise software to business and IT services. As chairman of the board of Narus, Inc.—a provider of real-time network traffic and analytics software—he led a strategic realignment that resulted in the company being acquired by Boeing Network and Space Systems as a subsidiary. In 2005, he successfully led the initial public offering of IHS, Inc., as the company’s president and CEO.
“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 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.”
Soon after taking the helm, Picasso was also named as a board member of the General Aviation Manufacturers Association (GAMA), an international trade association representing more than 90 of the world’s leading aviation manufacturers and providers of related components and services. With enduring relationships with more than 200 leading manufacturers, ATP plays a pivotal role in facilitating collaboration and information exchanges among manufacturers, owners/operators, maintenance providers, regulators, and aviation schools.
“We’ve long recognized ATP for the important role they play as a partner to General Aviation Manufacturers in support of compliance and safety for the industry,” said Pete Bunce, president and CEO of GAMA. “GAMA is proud to name Charles as a new board member and we are looking forward to his perspectives and contributions in helping drive our industry forward.”
“As a long time client of ATP, it’s clear to us that the company is unmatched as the leader in general aviation information services, particularly when you’re talking about providing information on maintenance and related areas such as technical publications and compliance tracking,” said Tim Grigsby, director of maintenance, Illinois Department of Transportation Division of Aeronautics. “We’re looking forward to seeing their new developments as they look to broaden their focus across the maintenance lifecycle to help us manage our business even more effectively and efficiently.”