ParkerGale Capital LP, through its portfolio company Aircraft Technical Publishers, has purchased aviation diagnostic service provider CaseBank Technologies Inc. ParkerGale closed a $240 million buyout fund in Nov. 2016 to invest in tech-enabled business services.
CaseBank Technologies is a software and service company that provides diagnostic and troubleshooting for complex equipment. The target, founded in 1998 and based in Ontario, Canada, serves the aerospace and defense, aviation, automotive, heavy equipment, transportation and high tech industries. As equipment performance deteriorates and machines break down, CaseBank Technologies’’ software delivers real-time diagnostic reports and improves the performance of product support personnel with best practices for field technicians. Some of the target’s clients include: Bombardier Inc., Hawker Beechcraft Acquisition Co. LLC., Gulfstream Intl. Group, Lockheed Martin Corp. (NYSE: LMT), and Pratt & Whitney Canada.