Arcadea Group, a Toronto-based investment firm focused on vertical SaaS businesses, announced the merger of Air Maestro and Spidertracks. Air Maestro has been a provider of safety management systems, flight operations, and training solutions for aviation operators since 2005, based on its Operational and Safety Management System. Spidertracks’ business mission is to empower the aviation industry with real-time aircraft management and proactive safety decisions.
Arcadea explains the strategic merger amplifies the strengths of the two businesses, creating a unified front in enhancing safety and operational efficiency in the aviation industry. The merged businesses will deliver a unified software platform and expand the suite of services available to customers.
As part of the merger, Aleks Banas, CEO of Air Maestro, will take over the CEO role of the combined business, with Steve Whitaker, Spidertracks’ CPO and COO, transitioning to COO.
“The Aviation industry is poorly served by a fragmented collection of sub-scale, legacy businesses,” said Banas. “Most at some degree of scale are owned by short-term-oriented, financially focused private equity or venture capital firms that have no long-term vision for or staying power in this market. By combining Air Maestro and Spidertracks, we will immediately be one of the largest global players in the space, offering the most comprehensive and capable suite of solutions to the commercial aviation market.”
Paul Yancich, co-founder and Managing Director of Arcadea group, added, “Air Maestro and Spidertracks have long been solving different elements of the same fundamental challenge within aviation: How to operate a profitable, successful flight organization without ever sacrificing quality, safety, or efficiency. This is a monumental challenge and, until this merger, no single business could come close to serving customers’ entire needs.”
