Drew Marine UK Holdings Ltd., a portfolio company of The Jordan Company, has acquired SKYTRAC Systems Ltd. from management and Roynat Equity Partners.
SKYTRAC will report into ACR Electronics, Inc., a wholly owned subsidiary of Drew Marine.
Kelowna, British Columbia based SKYTRAC is a developer and manufacturer of full-service data-driven business solutions to the non-scheduled commercial aviation industry. SKYTRAC serves over 6,500 global users with flight following, flight data and communications technology.
Roynat Equity Partners acquired its equity stake in SKYTRAC in 2013 in support of a management buyout. Since then, SKYTRAC has built upon its strength in onboard technology to now providing a complete platform that allows for worldwide connectivity, real-time inflight data, and flight analytics that enhances safety, efficiency, productivity and profitability for its customers.
“The SKYTRAC management team has built a leading provider in aircraft connectivity solutions that allows it to compete on a global scale,” said Matt Flynn, Managing Director of Roynat Equity Partners. “We expect to continue to hear about SKYTRAC’s successes well into the future.”
“Since the beginning of our partnership, Roynat Equity Partners has supported the growth of SKYTRAC, providing us with the insights, advice, and solutions to get us to where we are today,” said Malachi Nordine, President of SKYTRAC.
“The partnership between SKYTRAC and Roynat Equity Partners has been a tremendous success for both parties and we thank the SKYTRAC management team and employees for the opportunity to work together,” said David Daum, President and CEO, Roynat Capital.
Philpott Ball & Werner served as exclusive financial advisor and Dentons Canada LLP served as legal counsel to Roynat Equity Partners in connection with the sale.