San Francisco-based private equity firm Genstar Capital has made a significant investment in aircraft maintenance support and financial tools provider Jet Support Services, Inc (JSSI). Genstar is partnering with existing investors GTCR, the Book family and JSSI's management team to support the company's next phase of growth.

For more than 30 years, JSSI has been delivering Hourly Cost Maintenance (HCM) programmes to the business aviation industry, partnering with aircraft owners and operators to help stabilise aircraft costs, assure high quality maintenance and provide enhanced customer service. JSSI also offers maintenance tracking software, a result of two notable acquisitions, SierraTrax and Traxxall, in the past 18 months, a global multi-channel parts distribution and engine leasing business (JSSI Parts & Leasing), and a subscription-based aircraft operating cost and performance guide (Conklin & de Decker), all of which provides synergistic benefits to aircraft operators.

The company has a global footprint across 85 countries with 450 employees, including 75 technical advisors and product line specialists supporting over 5,000 aircraft and overseeing more than 10,000 annual maintenance events. JSSI facilitates and streamlines carbon offset purchasing directly through its customer platform, allowing customers to monitor and reduce their carbon footprint. JSSI Parts & Leasing supports sustainable utilisation through recycling of parts via aircraft teardowns and subsequent reuse of serviceable parts in maintenance and repair work.

JSSI CEO Neil Book says: “We are laser focused on creating value for our customers by simplifying and easing the complexities of aircraft maintenance. My team and I are appreciative of the ongoing collaboration with GTCR, which has been a fun and rewarding partnership since 2020. As we start this next chapter, Genstar is an ideal partner with a tremendous track record to support our ambitious growth plan.”

Genstar's investment in JSSI spans a multi-vertical team across software, insurance and industrials, led by Eli Weiss, Ryan Clark and Rob Clark.

“Genstar has a rich history investing across software, insurance and industrial distribution businesses and is excited to bring that unique perspective to help JSSI in its next chapter," say Weiss, Ryan and Clark. "JSSI is extremely well positioned to further its position in the private aircraft maintenance sector by leveraging its 30 year history in the industry. We are closely aligned with GTCR on how to create meaningful value, and the JSSI team is poised to embark on its next chapter of growth. We look forward to working with Neil, his team and GTCR to further the company's offerings and deliver value to customers.”

GTCR managing director Craig A Bondy adds: “Since our investment in 2020 we have worked closely with Neil to accelerate JSSI's growth, including completing two key acquisitions to significantly grow the company's maintenance tracking software business and deliver advanced solutions to a wider cross section of the business aviation community. Genstar's investment is a testament to the hard work of the JSSI team and the value proposition they deliver to customers.”