UTICA, N.Y. – JETNET, a leading provider of aviation data and market intelligence, today announced a significant milestone in its 34-year history. The company has secured a majority growth investment from Silversmith Capital Partners, a Boston-based growth equity firm. This marks the first time JETNET has raised outside capital since its inception in 1988, signaling a new phase of expansion and innovation for the aviation data leader, fueled by Silversmith Capital Partners.
Tony Esposito, minority owner and Board member of JETNET, expressed enthusiasm about the partnership: “We are thrilled to collaborate with Silversmith Capital Partners for this exciting next chapter. Building JETNET has always been about a deep commitment to our customers and fostering a strong company culture. Choosing our first investor was a careful process, and we found in Silversmith a partner that aligns with our values and brings the expertise necessary to propel our growth.”
JETNET is renowned for its comprehensive and reliable database in the business and commercial aviation sectors, serving a global clientele. By working directly with operators, owners, and manufacturers, JETNET maintains unparalleled accuracy in pricing, availability, and location data for critical aviation assets. In a strategic move to bolster its leadership, JETNET appointed aviation industry veteran Greg Fell as Chief Executive Officer in December 2021.
Greg Fell, CEO of JETNET, commented on the investment and the company’s future: “My decision to join JETNET was driven by my long-standing belief in the platform as the premier product in the industry, with substantial organic growth potential across diverse markets. Silversmith Capital Partners’ proven track record in accelerating growth for information companies, both organically and through strategic acquisitions, will be invaluable as we aim to enhance our research capabilities and expand our global presence.”
Jim Quagliaroli, Managing Partner at Silversmith Capital Partners, also shared his perspective on the investment: “JETNET has established itself as a best-in-class solution, earning the loyalty of customers worldwide. The JETNET platform is integral to the daily operations of thousands of businesses globally, and we are excited to support the company and Greg in this next phase of expansion.”
Ned Kingsley, Vice President at Silversmith Capital Partners, further elaborated on the firm’s investment strategy: “JETNET, with its profitable growth and provision of essential data and information services to a global market, perfectly embodies the type of company Silversmith Capital Partners seeks to support.”
Following the investment, Jim Quagliaroli, Ned Kingsley, and Silversmith Capital Partners Senior Associate Becca Katzen have joined JETNET’s Board of Directors, alongside Tony Esposito and Greg Fell. Kirkland & Ellis acted as legal counsel for Silversmith Capital Partners, and Koley Jessen advised JETNET in the transaction.
About JETNET
JETNET is a leading provider of aviation market information, delivering comprehensive and reliable business aircraft research to an exclusive global network of aviation professionals. Recognized as the ultimate source for insights and intelligence on the worldwide business, commercial, and helicopter aircraft fleet and marketplace, JETNET covers over 110,000 airframes. Headquartered in Utica, NY, JETNET offers user-friendly aircraft data through real-time internet access and regular updates.
About Silversmith Capital Partners
Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm managing $2.0 billion in capital. Silversmith Capital Partners focuses on partnering with and supporting exceptional entrepreneurs in growing and profitable technology and healthcare companies. Their notable investments include ActiveCampaign, DistroKid, impact.com, Iodine Software, LifeStance Health, and Webflow. The Silversmith Capital Partners team has a history of board service with successful growth companies such as ABILITY Network, Dealer.com, Liberty Dialysis, Passport Health, SurveyMonkey, and Wrike. For more information about Silversmith Capital Partners, please visit www.silversmith.com or follow the firm on LinkedIn.
Contacts
Media
Kate Castle
Silversmith Capital Partners
Chief Marketing Officer
P: 617-670-4345
[email protected]
