Moelis Capital Partners LLC (“MCP”) has signed a definitive agreement to sell Mxi Technologies, Ltd. (“Mxi” or the “Company”) to IFS, the global enterprise applications company, based in Linkoping, Sweden. Mxi, headquartered in Ottawa, Canada, is the leading provider of integrated and intelligent maintenance management software solutions for the global aviation industry. For more information on IFS, please visit: www.ifsworld.com.
“The deep aviation maintenance expertise of Mxi combined with IFS creates the world’s leading provider of aviation maintenance software solutions to defense and commercial aviation operators, MROs and OEMs”, said Jon Slangerup, Chief Executive Officer of the Company. “Over the last four years, MCP has been an outstanding strategic partner, helping us achieve our mutual business objectives. We appreciate their contributions and look forward to an equally fruitful relationship with IFS.”
Mxi’s Maintenix software suite is uniquely designed to help aviation organizations maximize the revenue potential of their aviation assets through standard, lean, and predictive maintenance. Mxi’s global footprint ranges from emerging and mid-sized organizations to the largest global aviation enterprises, many of whom have multi-site deployments that scale to several thousand users. The Company’s blue chip customer base includes: Southwest Airlines, Air France, KLM, Qantas, China Airlines, LATAM, Icelandair, NetJets, Boeing, BAE Systems, Saab, Pratt & Whitney, and several of the world’s air forces. For more information visit: www.mxi.com.
Jim Johnston, Partner at NexPhase Capital (co-advisor to the MCP funds), noted, “It has been a pleasure working with Mxi to rapidly grow the business and achieve our mutual goals. We wish the Mxi team continued success as they join IFS.”
Moelis & Company served as financial advisor and Parr Brown Gee & Loveless, PC and Osler Hoskin & Harcourt LLP served as legal counsel to the Company with respect to the transaction. The transaction is expected to close during the first quarter of 2017.
About Moelis Capital Partners:
Moelis Capital Partners LLC, a subsidiary of Moelis Asset Management LP, is a middle market private equity firm founded in 2007. MCP co-manages approximately $872 million of committed private equity capital with NexPhase Capital in traditional private equity investments. For more information, please visit www.moeliscapital.com.
About NexPhase Capital:
NexPhase Capital, formed by the former principals of Moelis Capital Partners, the private equity division of Moelis Asset Management (MAM), is a New York-based private equity firm that targets equity investments between $25 and $75 million in leading middle market, growth-oriented companies. Earlier this year, the former principals of MCP formed NexPhase to seek to execute, on an independent basis, a sector-focused strategy of control investments in lower middle market companies. NexPhase specializes in the healthcare, industrial services, software and consumer sectors. Led by Co-Managing Partners Kurt Larsen and Ted Yun, NexPhase continues to co-advise approximately $872 million of MCP’s legacy private equity capital. For more information, please visit www.NexPhase.com.
NexPhase Media Contact:
Lex Leeming
Partner & Head of Business Development
T: 212-878-6005
lleeming@NexPhase.com
Mxi Media Contact:
Jennifer Ross-Carriere
General Counsel
T: 613-576-2480 ext. 7456
Jennifer.RossCarriere@mxi.com