Astro Bug

AUSTIN, Texas - AstroBug -- L2 Aviation, a leading provider of global avionics services including engineering, certification, installation, fleet modernization, and manufacturing, announced today that it has received a strategic growth investment from Argentum, a founder-friendly growth equity firm that has helped B2B services and software companies accelerate organic growth and execute buy-and-build strategies for over 30 years.  The investment will enable L2 Aviation to expand production capacity, broaden its capabilities, and pursue strategic acquisitions, to support growing demand for its solutions.

By leveraging its extensive intellectual property and expertise, L2 Aviation delivers engineering designs, supplemental type certificates (STCs), assemblies, subsystems, and turnkey integration kits that solve the highly complex technical and regulatory certification challenges of aftermarket avionics system modifications, installations, and upgrades.  L2 Aviation helps many of the world's leading OEMs, MROs, airlines, operators, satellite and communications service providers shorten the time to market for new products, minimize aircraft downtime, adapt to evolving technologies, comply with regulations, and maintain the value, airworthiness, and mission-readiness of their fleets.

"As our valued customers and strategic partners have entrusted us with their mission-critical avionics needs, it's our responsibility to scale L2 Aviation's operations and technical capabilities to support their rapid growth," said Mark Lebovitz, Founder and CEO of L2 Aviation.  "Argentum's minority growth equity investment will enable L2 Aviation to accomplish this mission by adding production capacity and broadening our solutions, through organic initiatives and acquisitions.  With their founder-friendly track-record, hands-on approach to helping bootstrapped businesses execute buy-and-build strategies, and extensive experience backing other providers of services and software to the aviation industry, we feel that Argentum is the ideal partner for L2 Aviation's next phase of growth."

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"Mark and his team have built L2 Aviation into a proven leader and key player in the avionics and aftermarket ecosystem, with a marquee client roster, stellar market reputation, highly respected team possessing deep industry experience, and long history of impressive capital efficient growth," said Daniel Raynor, Cofounder and Managing Partner of Argentum, who will join L2 Aviation's Board of Directors in connection with the investment.  "L2 Aviation is at an attractive inflection point with increasing momentum, a growing backlog and pipeline, and strong industry tailwinds."

Chris Leong, Partner at Argentum added, "We're looking forward to partnering with Mark and his team to expand L2 Aviation's production capacity and capabilities, originate and execute acquisitions and strategic initiatives, and accelerate the company's growth.  We believe L2 Aviation is well-positioned to capitalize on the exciting opportunities in the aviation aftermarket that are being driven by the aging fleet of aircraft, record air traffic volumes, and increasing demand for next-generation avionics to support data-driven connected aircraft applications and use-cases."

About L2 Aviation

L2 Aviation is a leading provider of global avionics and aircraft modification support services including engineering, system design, repair, certification, fleet modernization, kitting and installation for many of the world's leading Original Equipment Manufacturers (OEMs), airlines, governments, militaries, satellite and communications services providers, and business aviation operators. L2 Aviation specializes in complex avionics certified designs, supplemental type certificates (STCs), integrated solutions and remote installations focused on reducing downtime, mitigating crew workloads, and maintaining the value, airworthiness, and mission-readiness of fleets. L2 Aviation makes great airplanes BETTER! Learn more at www.l2aviation.com.

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About Argentum

Argentum is a New York-based growth equity firm that helps scale bootstrapped and capital-efficient B2B software, technology-enabled and business services companies.  The firm provides capital to accelerate growth, fund acquisitions / buy-and-build strategies, and / or generate shareholder liquidity, and plays an active role originating add-on acquisitions, partnerships, and other strategic value creation initiatives for its portfolio companies.  Over its 30+ year history, Argentum has invested in over 100 companies, supported more than 200 add-on acquisitions, been named to Inc's list of Top Founder Friendly Investors for multiple years, and received the U.S. SBA's SBIC of the Year award.  Learn more at www.argentumgroup.com.