SAN FRANCISCO and CHICAGO, November 11, 2022 /PRNewswire/ — Genstar Capital, a leading private equity firm focused on investing in targeted segments of the financial services, healthcare, software and industrials sectors, today announced an investment important in Jet Support Services, Inc. (JSSI), the leading independent provider of aircraft maintenance support and financial tools for the business aviation industry. Genstar is joining with existing GTCR investors, the Book family and the JSSI management team to support the company’s next phase of growth.
For over 30 years, JSSI has provided hourly cost maintenance (HCM) programs to the business aviation industry, partnering with aircraft owners and operators to help stabilize aircraft costs, ensure high quality maintenance and provide enhanced customer service. JSSI also offers maintenance tracking software, the result of two notable acquisitions in the past 18 months, a global multi-channel parts distribution and engine leasing business (JSSI Parts & Leasing), and a guide to maintenance costs. Subscription Aircraft Operation and Performance (Conklin & de Decker), all of which provide synergistic benefits to aircraft operators.
The company has a global presence in 85 countries, with 450 employees, including 75 technical advisors and product line specialists supporting more than 5,000 aircraft and overseeing more than 10,000 annual maintenance events. JSSI makes it easy and streamlined to purchase carbon offsets directly through its client platform, allowing clients to monitor and reduce their carbon footprint. JSSI Parts & Leasing supports sustainable use through the recycling of parts through the dismantling of aircraft and the subsequent reuse of serviceable parts in maintenance and repair work.
Neil’s BookCEO of JSSI, said, “We are focused on creating value for our customers by simplifying and alleviating the complexities of aircraft maintenance. My team and I appreciate the continued collaboration with GTCR, which has been fun and rewarding. partnership since 2020. As we embark on this new chapter, Genstar is an ideal partner, with a formidable track record, to support our ambitious growth plan.
Genstar’s investment in JSSI spanned a multi-vertical team spanning software, assurance and industry, led by Eli Weiss, ryan clark and Rob Clark. “Genstar has a rich history of investing in software, insurance and industrial distribution businesses and is delighted to bring this unique perspective to help JSSI in its next chapter. JSSI is extremely well positioned to strengthen its position in the private aircraft maintenance sector leveraging its 30-year history in the industry. We are closely aligned with GTCR on how to create significant value and the JSSI team is poised to launch into its next chapter of growth. We look forward to working with Neil, his team and GTCR to advance the business offerings and bring value to customers,” said Weiss, Clark and Clark.
Craig A. BondyManaging Director of GTCR, added: “Since our investment in 2020, we have worked closely with Neil to accelerate the growth of JSSI, including making two key acquisitions to significantly expand the maintenance tracking software business of business and provide advanced solutions to a wider range of customers. business aviation community. Genstar’s investment is a testament to the hard work of the JSSI team and the value proposition it delivers to customers.
Simpson Thacher & Bartlett LLP served as legal counsel to Genstar. Kirkland & Ellis LLP served as legal counsel to GTCR.
About Genstar Capital
Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for over 30 years. Based in San Francisco, Genstar works in partnership with its management teams and network of strategic advisors to transform its portfolio companies into industry-leading companies. Genstar currently has approximately $35 billion in assets under management and is targeting investments focused on targeted segments within the financial services, healthcare, industrials and software sectors.
About the T&Cs
Founded in 1980, GTCR is a leading private equity firm that pioneered The Leaders Strategy™ – finding and partnering with management leaders in key areas to identify, acquire and build world-leading companies. market through organic growth and strategic acquisitions. GTCR is focused on investing in the transformative growth of companies in the business and consumer services, financial services and technology, healthcare and technology, media and telecommunications sectors. Since its inception, GTCR has invested more than $24 billion in more than 270 companies, and the company currently manages more than $27 billion in equity. GTCR is based in Chicago with offices at New York and West Palm Beach. For more information, visit www.gtcr.com. Follow us on LinkedIn.
About Jet Support Services, Inc.
For more than 30 years, Jet Support Services, Inc. (JSSI) has been the leading independent provider of maintenance support and financial services to the business aviation industry. JSSI supports more than 5,000 business jets and helicopters worldwide through its maintenance programs and software and serves its customers through an infrastructure of certified technical advisors. JSSI draws on this technical knowledge, experience, buying power and data to provide support at every stage of the aircraft life cycle, from aircraft acquisition to teardown and separation. from the plane. For more information, visit jetsupport.com.
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For Genstar Capital
Chris Tofalli Public Relations