NEW YORK, NY — October 24, 2018 – Argentum is excited to announce that its portfolio company, Flightdocs, has entered into an exclusive multi-year agreement with Boeing (NYSE: BA), the recognized leader in aviation worldwide, to exclusively market and sell the Flightdocs Enterprise platform, a full-service maintenance, compliance and inventory management solution for the business and general aviation market. The companies have also entered into a memorandum of understanding (MOU) to integrate the Flightdocs Enterprise platform with Boeing Global Services’ portfolio of companies, products and services including Aviall, Inventory Locator Services, and Jeppesen. Together, Flightdocs and Boeing will deliver cloud-based end-to-end, industry-first solutions to business and general aviation operators.
“Congratulations to Flightdocs and Boeing on establishing this exclusive, multi-year partnership,” said Chris Leong, Partner at Argentum. “We are very excited about the innovative and industry changing solutions that Flightdocs and Boeing will be jointly bringing to the business and general aviation market.”
“Chris worked tirelessly, as a truly seamless extension of the Flightdocs executive team, to originate, cultivate, and establish this game-changing partnership with Boeing,” said Rick Heine, CEO and Founder of Flightdocs. “His efforts are just another example of the many ways that Argentum has served as a great partner and created tremendous value for Flightdocs since they became an investor in our company.”
The official announcement can be found here.
Argentum is a New York-based growth equity firm that supports entrepreneurial owners in building industry-leading B2B software, technology-enabled and business services companies. The firm partners with management teams of companies with revenues of $5 million to $25 million, providing capital to accelerate growth, fund acquisitions or generate shareholder liquidity. Since raising its first fund in 1990, Argentum has invested in over 80 companies and supported nearly 200 add-on acquisitions. Argentum fills the growing gap between early stage venture capital investors and later stage growth equity firms by targeting bootstrapped companies seeking $5 to $15 million of capital.
Flightdocs provides mission-critical cloud-based maintenance, compliance and inventory management Software as a Service (SaaS) solutions to the aviation industry. The company’s solutions assist aircraft owners and operators in tracking and managing the maintenance and airworthiness of their aircraft, comply with rigorous safety rules and regulatory guidelines, reduce costs, mitigate risks and minimize asset downtime. Flightdocs’ customers include Fortune 1000 corporate flight departments, air charters, air medical providers, fractional aircraft operators, government agencies, and regional carriers. Headquartered in Bonita Springs, Florida, Flightdocs has been serving the aviation industry for over 15 years.