M&A Deal Summary

Astira Capital Partners Acquires Condata

On July 23, 2024, private equity firm Astira Capital Partners acquired business services company Condata from NextGen Growth Partners and The Firmament Group

Acquisition Highlights
  • This is Astira Capital Partners’ 1st transaction in the Business Services sector.
  • This is Astira Capital Partners’ 1st transaction in the United States.
  • This is Astira Capital Partners’ 1st transaction in Illinois.

M&A Deal Summary
Date 2024-07-23
Target Condata
Sector Business Services
Buyer(s) Astira Capital Partners
Sellers(s) NextGen Growth Partners
The Firmament Group
Deal Type Secondary Buyout
Advisor(s) Harris Williams & Co. (Financial)
BakerHostetler (Legal)

Target

Condata

Oak Brook, Illinois, United States
Condata is a provider of freight post audit and recovery services serving customers globally. Condata performs US domestic freight audits as well as intra-European, intra-Asian, and intra-Latin American audits for clients. Condata was founded in 1956 and is based in Oak Brook, Illinois.

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Buyer(S) 1

Buyer

Astira Capital Partners

Category Private Equity Firm
Founded 2023
Size Small
Type Sector Agnostic
DESCRIPTION

DEAL STATS #
Overall 1 of 1
Sector (Business Services) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Illinois) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1

Seller(S) 2

SELLER

NextGen Growth Partners

Investor Investor Investor Investor

Category Private Equity Firm
Founded 2016
Size Small
Type Sector Agnostic
DESCRIPTION

NextGen Growth Partners is a hands-on private investment firm focused on acquiring and growing small to mid-sized companies. The Firm targets businesses with $5 to $50 million of revenue and $1.5 to $7 million of cash-flow. The Firm has a particular interest in businesses facing succession issues and where the owner is looking for full or partial liquidity. NextGen Growth Partners is a based in Chicago, Illinois.

DEAL STATS #
Overall 1 of 1
Sector (Business Services) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Illinois) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-01 Premiere Property Services

Grand Rapids, Michigan, United States

Premiere Property Services is a family owned and operated grand rapids based construction and renovation company that offers a variety of services to commercial, residential and multi-housing communities. Premiere Property Services was founded in 1996 and is based in Grand Rapids, Michigan.

Buy -
SELLER

The Firmament Group

Investor Investor Investor Investor Investor

Category Family Office
Founded 2012
Size Small
Type Sector Agnostic
DESCRIPTION

The Firmament Group is a family backed investment firm focused on providing equity and debt capital to small and medium-sized companies. Funds are generally used to finance leveraged buyouts, complete recapitalizations or restructurings, provide liquidity for organic growth, or finance add-on acquisitions. The Firmament Group was established in 2012 and is headquartered in New York City.

DEAL STATS #
Overall 6 of 6
Sector (Business Services) 2 of 2
Type (Secondary Buyout) 4 of 4
State (Illinois) 2 of 2
Country (United States) 6 of 6
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-14 Whitecap Waste

Beckley, West Virginia, United States

Whitecap Waste is a provider of waste management services for residential, commercial, and industrial. Whitecap Waste is based in Beckley, West Virginia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-31 AAG

Michigan, United States

AAG manufactures and distributes consumable and reference materials to the atomic spectroscopy industry, with offices across the US and the UK, the Company provides customers across the globe with one of the broadest product suites in the atomic spectroscopy industry.

Buy -
Mergr

Product

Company

Legal