MRO & Manufacturing
Arcadea’s Vellox Group Acquires ADSoftware to Expand Aviation Software Platform
Arcadea’s Vellox Group acquires ADSoftware, enhancing its unified aviation software platform with maintenance and airworthiness management.
In August 2025, the aviation software sector observed a substantial consolidation as Arcadea Group, via its aviation-focused platform Vellox Group, announced the acquisition of ADSoftware, a French-based provider of maintenance and airworthiness management software. This move aligns with Arcadea’s permanent capital investment philosophy and Vellox Group’s ambition to build the industry’s most unified operations platform. The acquisition merges ADSoftware’s 27-year legacy and global customer base with Vellox’s integrated suite of aviation solutions, creating what both companies describe as an unprecedented one-stop shop for aviation operations and airworthiness management. This transaction is set against a backdrop of a growing aviation MRO (Maintenance, Repair, and Overhaul) software market, which is projected to expand significantly in the coming years.
The significance of this acquisition lies not only in its scale but also in its timing. As the aviation industry recovers from pandemic-related disruptions, operators are increasingly seeking integrated digital solutions to boost efficiency, safety, and regulatory compliance. By bringing together ADSoftware’s deep expertise in maintenance management with Vellox’s operational and safety management capabilities, the combined entity aims to address longstanding challenges of fragmented software systems in aviation.
This article examines the details of the acquisition, profiles the companies involved, analyzes the strategic and market context, and explores the broader implications for customers and the aviation software industry.
The acquisition was officially announced on August 13, 2025. While the financial terms remain undisclosed, the transaction was executed through Vellox Group, Arcadea’s dedicated aviation software platform. Notably, all existing ADSoftware employees will join the Vellox organization, ensuring continuity for its 70+ global customers, which include Airlines, MROs, military fleets, and Helicopters operators.
The deal follows Vellox Group’s formation in early 2025, which itself resulted from the merger of four aviation software companies: Spidertracks, Air Maestro, Flight Vector, and Complete Flight. The acquisition of ADSoftware appears to have been a strategic objective from the outset, filling a critical gap in Vellox’s operational coverage, namely, maintenance and airworthiness management.
A key aspect of the acquisition is the commitment to operational continuity. ADSoftware’s flagship ERP, AIRPACK, will be rebranded under the Vellox umbrella but will retain its core functionality and customer relationships. The transaction also brings valuable geographic diversification, with ADSoftware’s presence in Europe, Asia, Africa, and South America complementing Vellox’s existing footprint in North-America and Oceania.
“ADS is the missing piece that makes our platform unrivaled. No one else offers a fully unified ecosystem for high-criticality aviation like we now do.”
— Krister Genmark, SVP Revenue, Vellox Group
Arcadea Group, based in Toronto, operates as a permanent capital investor, targeting founder-led software companies with long-term growth potential. Unlike traditional private equity, Arcadea’s investment horizon spans “10 years to forever,” removing the pressure for short-term exits and enabling portfolio companies to prioritize innovation and customer success. The firm’s investment criteria focus on companies with $2–20 million in recurring revenue and strong, sustainable competitive advantages. Arcadea’s efficient deal process and significant capital commitments, such as the additional $20 million invested in Vellox Group in February 2025, demonstrate its focus on supporting aggressive product development and market expansion.
This permanent capital structure is particularly relevant in aviation, where software reliability and vendor stability are paramount. According to Paul Yancich, Arcadea’s Managing Director, the group’s unique approach allows its companies to “prioritize long-term innovation and customer health over short-term motives.”
Vellox Group was formed by merging four aviation software companies, creating what is described as the world’s most unified aviation software platform. Its leadership team comprises experienced executives from each constituent company, ensuring deep domain expertise is retained.
The Vellox platform covers a wide spectrum of aviation operations: fleet management, safety management, dispatch and planning, crew scheduling, and mission execution. The platform’s design philosophy is to eliminate operational silos, providing operators with a complete, integrated view rather than multiple disconnected systems.
Before acquiring ADSoftware, Vellox served diverse sectors including emergency medical services, defense, public safety, tourism, and government. The addition of ADSoftware’s maintenance management capabilities completes the platform’s operational coverage, positioning it as a comprehensive solution for aviation operators.
Founded in 1998, ADSoftware has built a strong reputation for its modular ERP suite, AIRPACK, which supports CAMO and MRO operations in both civil and military aviation. The suite’s six modules cover fleet management, inventory, documentation, security, statistical reporting, and time tracking.
ADSoftware serves over 70 clients in more than 40 countries, including airlines, helicopter operators, military fleets, and OEMs. The company’s expertise extends to advanced capabilities like predictive and condition-based maintenance, which are increasingly important as aviation becomes more data-driven.
Inès Gur, Acting Managing Director of ADSoftware, highlighted the acquisition as a “major milestone,” expressing excitement about scaling globally while maintaining a focus on innovation and customer partnerships. The global aviation MRO software market was valued at $7.70 billion in 2024 and is projected to reach $11.68 billion by 2032, with a compound annual growth rate of 5.3%. Growth drivers include increased adoption of IoT, analytics, and digital twin technologies, which enable predictive maintenance and operational optimization.
North America currently leads the market, holding a 27.53% share, but the Asia-Pacific region is expected to experience the fastest growth due to expanding aviation activity. Maintenance management software is the largest segment, reflecting the critical importance of efficient fleet and inventory management for airlines and MROs.
The market’s expansion creates opportunities for software providers capable of serving global operators and integrating advanced technologies. ADSoftware’s established international presence and technical depth position the combined Vellox-ADSoftware entity to capitalize on these trends.
The aviation MRO software market remains fragmented, with numerous specialized providers. While deep domain expertise is essential, fragmentation often leads to inefficiencies for operators, who must juggle multiple point solutions.
The trend is shifting toward integrated platform solutions, as operators seek to eliminate silos and streamline data flows. Vellox’s unified approach, now bolstered by ADSoftware’s capabilities, directly addresses this industry need.
The shift to cloud-based deployment is accelerating, with operators recognizing the benefits of SaaS for accessibility, speed, and security. ADSoftware’s recent launch of its web-based application reflects this shift, ensuring relevance in a rapidly evolving market.
“The integration of flight operations data with maintenance systems enables predictive maintenance programs that consider actual usage patterns, improving reliability and reducing costs.”
The acquisition fills a critical gap in Vellox’s platform: deep maintenance and airworthiness management. By integrating maintenance schedules, flight operations, and safety data, the unified platform offers operators comprehensive visibility and control.
The resulting synergies enable seamless workflows across planning, dispatch, safety, and maintenance, underpinned by advanced analytics and decision support tools. This integration promises smarter compliance, predictive maintenance, and improved operational uptime. The renewed focus on operational efficiency post-pandemic makes these capabilities particularly valuable, as maintenance is a major cost driver for aviation operators.
The deal brings together complementary customer bases, enabling cross-selling and broader market penetration. ADSoftware’s clients span airlines, MROs, military, and more, while Vellox’s strength lies in emergency services, defense, and government sectors.
Geographic expansion is a key benefit, with ADSoftware’s presence in Europe, Asia, Africa, and South America complementing Vellox’s reach in North America and Oceania. This positions the combined entity to serve global operators more effectively.
Existing ADSoftware customers gain access to Vellox’s global infrastructure and 24/7 support, while Vellox customers benefit from advanced maintenance management capabilities. This creates natural growth opportunities within the combined base.
Technical integration is both an opportunity and a challenge. ADSoftware’s modular ERP and cloud-based SaaS align well with Vellox’s platform approach, facilitating integration.
The combined resources accelerate innovation, enabling new features such as predictive maintenance based on real-time operational data. Regulatory compliance expertise, especially with EASA and FAA standards, further strengthens the platform’s value proposition.
The integration also supports more sophisticated analytics, compliance management, and workflow automation, addressing the complex regulatory and operational needs of global aviation operators.
The acquisition of ADSoftware by Arcadea’s Vellox Group marks a pivotal moment in the evolution of aviation software. By uniting maintenance, operations, safety, and planning into a single platform, the combined entity addresses the industry’s longstanding challenges of fragmentation and inefficiency. With permanent capital backing, a global footprint, and deep technical expertise, the new Vellox-ADSoftware platform is well-positioned to lead the next phase of digital transformation in aviation. The transaction sets a precedent for further consolidation and integrated solution development in the sector, promising enhanced value for operators and raising the competitive bar for all market participants.
What does Vellox Group’s acquisition of ADSoftware mean for existing customers? How does this acquisition impact the aviation MRO software market? What is Arcadea Group’s investment philosophy? Why is platform integration important in aviation software? What are the future implications of this deal?
Arcadea’s Vellox Group Acquires ADSoftware: Strategic Consolidation in Aviation Software
The Acquisition: Strategic Details and Transaction Structure
Company Profiles and Strategic Background
Arcadea Group’s Investment Philosophy
Vellox Group’s Unified Platform Strategy
ADSoftware’s Market Position and Legacy
Market Context and Industry Dynamics
Aviation MRO Software Market Size and Growth
Competitive Landscape and Platform Consolidation
Strategic Rationale and Synergies
Completing the Operational Coverage Puzzle
Customer Base Expansion and Market Penetration
Technology Integration and Innovation
Conclusion
FAQ
Existing ADSoftware customers will experience service continuity, with all staff retained, and gain access to Vellox’s global infrastructure, advanced development resources, and 24/7 support.
It accelerates the trend toward integrated platform solutions, offering operators a unified system for maintenance, operations, safety, and planning, and increasing pressure on smaller, specialized vendors.
Arcadea is a permanent capital investor focused on founder-led software companies, supporting long-term innovation and customer success rather than short-term exits.
Integrated platforms eliminate operational silos, improve data flow, enhance regulatory compliance, and support predictive analytics, resulting in greater efficiency and safety for operators.
The deal is likely to drive further consolidation in aviation software, as operators increasingly demand integrated solutions and as permanent capital models prove effective for enabling complex, long-term growth strategies.
Sources
Photo Credit: Montage
MRO & Manufacturing
Aegean Airlines Acquires 45% Stake in Greek MRO Provider Apella
Aegean Airlines acquires 45% of Apella S.A. to expand maintenance services and develop a new technical base in Almyros, Greece.
This article is based on an official press release from Aegean Airlines.
On January 29, 2026, Aegean Airlines announced a significant expansion of its maintenance capabilities through the acquisition of a minority stake in Apella S.A., a specialized Greek aviation maintenance company. Through its subsidiary Olympic Air, the Aegean Group has secured a 45% stake in the firm, aiming to vertically integrate its operations and establish Greece as a stronger regional hub for aviation support services.
According to the company’s official announcement, the investment involves both the purchase of existing shares and a share capital increase. While the specific transaction value remains undisclosed, the deal leaves the majority 55% stake with Dr. Nikos Kontoyannis, who will continue to lead Apella as its CEO. The move represents a strategic effort by Aegean to bring heavy maintenance, aircraft painting, and disassembly services in-house, complementing its existing line maintenance infrastructure.
A central component of this partnership is the development of a new technical base in Almyros, Magnesia. The press release details plans to utilize a privately owned 100,000-square-meter plot near Nea Anchialos National Airport (VOL). This facility is projected to roll out in phases, initially focusing on aircraft parking and disassembly, a critical component of aircraft recycling, before expanding into heavy maintenance and painting services.
Dimitris Gerogiannis, CEO of Aegean Airlines, emphasized the collaborative nature of the deal in a statement regarding the acquisition:
“This investment is a vote of confidence in the potential of Apella and its people… [It aims] to create synergies, facilitate the exchange of know-how, and support the expansion of the AEGEAN Group’s activities in the field of heavy aircraft maintenance.”
This new infrastructure is designed to function alongside Aegean’s “Aircraft Maintenance & Crew Training Center” at Athens International Airport, which opened in early 2024. While the Athens facility handles line maintenance and crew training, the partnership with Apella allows the group to capture industrial-level work, such as painting and recycling, that was previously outsourced or unavailable within the group’s direct control.
Apella S.A. brings decades of specialized experience to the Aegean Group. Founded in 1987 and operating as a certified MRO (Maintenance, Repair, and Overhaul) provider since 1998, Apella is currently the largest provider of wheel and brake repair services in Greece. The company holds EASA Part-145 certification and maintains strategic partnerships with major defense contractors, including Lockheed Martin, for whom it supports the Hellenic Air Force’s F-16 Viper upgrade program.
Dr. Nikos Kontoyannis, CEO of Apella, welcomed the investment as a catalyst for growth: “[The deal creates] prospects for strengthening infrastructure, expanding the range of services provided, and establishing Greece as a regional hub for aviation technical support.”
Data provided in the announcement highlights Apella’s financial standing prior to the acquisition. For the fiscal year 2024, Apella reported:
This acquisition aligns with a broader industry trend where major carriers are increasingly investing in vertical integration to secure their supply chains. By acquiring a stake in an MRO provider capable of heavy maintenance and disassembly, Aegean reduces its reliance on third-party vendors for critical, high-cost services. Furthermore, the inclusion of “disassembly” capabilities suggests a forward-looking approach to sustainability and fleet lifecycle management, allowing the airline to manage end-of-life processes for aircraft more efficiently.
Who is the majority owner of Apella S.A. following the deal? What services will the new Almyros facility provide? Does this replace Aegean’s Athens maintenance center?
Aegean Airlines Acquires 45% Stake in MRO Provider Apella S.A.
Strategic Expansion and New Infrastructure
Operational Synergies and Capabilities
Financial Overview
AirPro News Analysis
Frequently Asked Questions
Dr. Nikos Kontoyannis retains a 55% majority stake and remains the CEO of the company.
The facility is planned to offer aircraft parking, disassembly (recycling), aircraft painting, and heavy maintenance services.
No. The new capabilities complement the existing center at Athens International Airport, which focuses on line maintenance and crew training.
Sources
Photo Credit: Aegean Airlines
MRO & Manufacturing
Avmax Group Acquires Condor Aircraft Accessories to Expand Component Services
Avmax Group acquires Condor Aircraft Accessories to create an Integrated Components Division, enhancing aircraft component repair capabilities in Calgary.
This article is based on an official press release from Avmax Group Inc.
On January 27, 2026, Avmax Group Inc. announced the acquisitions of Condor Aircraft Accessories, a specialized aviation maintenance provider based in Calgary, Alberta. According to the company’s official statement, this transaction will result in the formation of a new “Integrated Components Division,” merging Avmax’s existing component capabilities with Condor’s long-standing expertise in accessory repair and overhaul.
The acquisition represents a strategic move by Avmax to bring specialized “back-shop” maintenance capabilities in-house. By integrating Condor, which has served the industry since 1989, Avmax aims to streamline supply chains for its leased fleet and external MRO customers. The company confirmed that Condor will continue to operate as a division within Avmax, retaining its current operational structure to ensure continuity for existing clients.
Avmax, known globally for aircraft leasing, heavy maintenance, and engineering, stated that this acquisition is designed to fill specific gaps in its internal repair capabilities. While Avmax handles large-scale MRO operations, Condor specializes in the granular repair of Class I, II, and III accessories. These include critical internal components such as actuators, relays, hydraulic pumps, motors, and generators.
In the press release, Avmax leadership emphasized that the deal is an “operational alignment” rather than a simple absorption. Hassan Ghazali, Avmax’s Component Shop Manager, highlighted the practical benefits of combining the two workforces.
“This operational alignment brings together two highly experienced teams, expanding the range of components we’re able to support. By combining our strengths, we’re increasing both capacity and expertise while continuing to deliver the reliability our customers expect.”
, Hassan Ghazali, Component Shop Manager, Avmax
By controlling the repair cycle for these specific components, Avmax anticipates reduced turnaround times and increased efficiency. This vertical integration allows the company to service its own assets more rapidly while offering a broader menu of services to third-party airlines and operators.
Both companies are headquartered in Calgary, Alberta, a factor Avmax cited as a foundation for shared corporate values. Condor Aircraft Accessories has been a fixture in the region’s aviation sector for over three decades, holding Transport Canada Approved Maintenance Organization (AMO) status. Tim McCrady, Business Development Manager at Avmax, noted that the proximity and shared history of the two entities would facilitate a smooth integration. “This partnership reflects a shared belief in doing things the right way, with pride in our work, respect for our people and a long-term commitment to our customers. Together, we are strengthening our technical depth while creating more efficiency and a more integrated component support network.”
, Tim McCrady, Business Development Manager, Avmax
This acquisition aligns with a broader trend in the aviation aftermarket where major lessors and MRO providers are increasingly acquiring niche repair shops. By owning the facility that repairs high-turnover components like pumps and actuators, a lessor like Avmax can significantly lower the maintenance costs of its own fleet. Rather than paying a markup to a third-party vendor, the lessor captures that margin and controls the priority of the repair queue. For the Calgary aviation hub, this consolidation likely signals stability, keeping specialized technical skills within the local market under the umbrella of a larger, globally diversified parent company.
According to the announcement, the transition is effective immediately. Condor will function as a specialized division within the Avmax ecosystem. The company assured stakeholders that day-to-day operations would remain stable, with existing points of contact remaining in place to prevent service disruptions. The new Integrated Components Division will leverage Avmax’s global logistics network to support Condor’s existing client base, potentially expanding the reach of the smaller shop’s services to international markets.
Sources: Avmax Group Inc.
Avmax Group Acquires Condor Aircraft Accessories to Form Integrated Components Division
Strategic Alignment and Expanded Capabilities
Shared Regional Heritage
AirPro News Analysis
Operational Continuity
Photo Credit: Montage
MRO & Manufacturing
AkzoNobel Opens New Aerospace Coatings Facility in Dubai 2026
AkzoNobel Aerospace Coatings will launch a Dubai facility in Q2 2026 to provide local blending and stock for Middle East aviation operators and MROs.
This article is based on an official press release from AkzoNobel Aerospace Coatings.
AkzoNobel Aerospace Coatings has officially announced plans to launch a new color blending and distribution facility in Dubai, United Arab Emirates. According to a press release issued on January 29, 2026, the new site is scheduled to become operational in the second quarter of 2026. The facility is designed to serve as a regional hub, offering locally blended and stocked coating solutions tailored to the specific requirements of commercial aviation operators, Maintenance, Repair, and Overhaul (MRO) organizations, and OEMs across the Middle East.
The expansion aims to reduce lead times and improve efficiency for regional partners by localizing the supply chain. The Dubai facility will feature automated and precision control processes to ensure color accuracy consistent with AkzoNobel’s global standards. Key capabilities will include the local blending of the company’s flagship coating systems, including Aerobase, Aerodur 3001, and Eclipse colors.
The primary objective of the new Dubai site is to provide streamlined access to essential aerospace materials. In addition to on-site color blending, the facility will stock a comprehensive inventory of primers, topcoats, and thinners. By positioning these resources within the region, AkzoNobel intends to support the operational planning of Airlines and MROs, minimizing the downtime associated with waiting for materials to be shipped from Europe or North America.
Xavier Rijmenans, EMEA Sales Director for AkzoNobel Aerospace Coatings, emphasized the importance of this investment for the company’s long-term strategy in the region.
“We work closely with established partners in the Middle East who rely on our trusted solutions. By expanding our color blending and distribution capabilities, we are not only reducing lead times but also strengthening regional support, helping customers to scale their operations and respond to increasing demand in the region.”
Xavier Rijmenans, EMEA Sales Director, AkzoNobel Aerospace Coatings
Rijmenans further noted that this operational model has already been proven effective across Asia, Europe, and North America, suggesting that Middle Eastern customers will see immediate benefits in terms of access to high-quality, locally blended coatings.
The following section contains analysis by AirPro News based on industry data and background research. The timing of AkzoNobel’s expansion aligns with a period of significant growth in the Middle East aviation sector. With major fleet expansions underway, including the aggressive entry of Riyadh Air and continued growth from legacy carriers like Emirates and Qatar Airways, the demand for MRO services is projected to rise sharply. By establishing a local blending facility, AkzoNobel is positioning itself to compete more effectively against rival Manufacturers such as PPG Aerospace and Sherwin-Williams, both of which maintain active footprints in the region.
Furthermore, the specific product focus addresses the unique environmental challenges of the Middle East. The region’s high solar irradiance and prevalence of sandstorms require high-performance coatings capable of resisting erosion and UV degradation. Localizing the production of systems like Aerobase and Aerodur allows AkzoNobel to respond rapidly to the maintenance needs of aircraft subjected to these harsh “desert factor” conditions.
This move also occurs against the backdrop of broader corporate shifts. In November 2025, AkzoNobel and Axalta Coating Systems announced a definitive agreement to merge. While the Dubai facility is an AkzoNobel initiative, it strengthens the company’s infrastructure ahead of the expected transaction close in late 2026 or early 2027.
According to the press release and technical specifications, the new facility will focus on three primary product lines, each serving distinct roles in aircraft maintenance and livery application:
AkzoNobel has invited industry stakeholders to learn more about the new facility at MRO Middle East 2026. The team will be available at Booth 1620 to discuss how local stock availability can assist in reducing turnaround times.
AkzoNobel Aerospace Coatings Announces New Dubai Facility to Strengthen Middle-East Support
Operational Capabilities and Strategic Goals
AirPro News Analysis: Regional Context and Market Dynamics
Technical Focus: Featured Product Lines
Frequently Asked Questions
Sources
Photo Credit: AkzoNobel Aerospace Coatings
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