CALGARY, Oct. 24, 2017 /CNW/ - Roynat Equity Partners is pleased to announce the sale of its equity ownership interest in SKYTRAC Systems Ltd. ("SKYTRAC") to Drew Marine, a portfolio company of The Jordan Company. The company will report through ACR Electronics.
Based in Kelowna, British Columbia, 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.
About Roynat Equity Partners
Roynat Equity Partners facilitates growth and creates wealth in established mid-market private companies by providing patient capital, advice and contact networks to Canadian entrepreneurs. With over $300 million in committed capital and offices across Canada, Roynat Equity Partners is dedicated to helping mid-market companies grow and achieve their business goals. Flexible investment structures are tailored to the needs of partners and include common equity, preferred equity, and convertible debt and can be part of a complete financing solution provided by Roynat Capital and Scotiabank. Roynat Equity Partners is a division of Roynat Inc. which is a wholly owned subsidiary of Scotiabank. For more information, please visit www.roynat.com/equity
About SKYTRAC Systems Ltd.
SKYTRAC is aviation's full-service, data-driven solutions provider. Since 1986, SKYTRAC has pioneered the development, evolution and commercialization of flight following, flight data and communications technology. Today, with systems certified on over 900 airframes and an online data management portal that is the go-to tool for over 6,500 global users, SKYTRAC is truly the partner of choice for data-guided business insights. From performance trending and operations reporting to real-time asset tracking and situational awareness – SKYTRAC offers a one-stop response to meeting more of your company's needs. For more information, please visit www.skytrac.ca.
SOURCE Roynat Equity Partners
For further information: Rick Roth, Rick.Roth@scotiabank.com, 416-933-1795