Builds on prior building products and construction experience
NEW YORK, Feb. 26, 2024 /PRNewswire/ — Astara Capital Partners, LLC (“Astara”), a middle-market private equity firm, announced today that an affiliate of Astara Capital Fund I, L.P. has made an investment in Ally Building Solutions (“Ally” or the “Company”). Founded in 2013 by Steve Spade and headquartered in Orlando, Florida, Ally is a leading provider and installer of interior finishes, including flooring, cabinets, countertops, appliances and specialty products to the residential home [market]. In addition, the Company operates a network of design studios that allow homebuyers to select the products they would like installed in their new home.
Steve Spade, Founder and Chief Executive Officer of Ally, will continue to lead the Company. “I am excited to partner with Astara”, Mr. Spade said. “The firm has unparalleled experience growing building product and construction-related companies in Florida. Members of their team have owned and managed high-profile companies in our region, including American Builders Supply, ODC Construction, Huttig, and Del Air Heating & Air Conditioning. In addition to bringing strategic insights and customer relationships, Astara is already helping us improve certain functions that will enable Ally to provide even better service to its customers”.
“Because Ally brings considerable value to both the homebuyer and the homebuilder, Steve and his team have been growing rapidly and taking market share,” said Chad Barton, Astara Operating Partner and Ally’s new Chairman of the Board. “We are excited to bring our industry knowledge and relationships to accelerate this growth and make Ally the dominant provider of interior finishes in the Florida market”
“Partnering with great operators like Steve in industries that we know extremely well is key to our strategy. This is the third investment in our fund and another example of why founders and entrepreneurs choose to partner with Astara,” said Michael Ranson, Managing Partner of Astara.
Robinson Bradshaw Hinson served as legal advisor and Rothschild as financial advisor to Astara. O’Connor UBS and Bank United provided financing for the transaction. The transaction terms were not disclosed.
About Astara Capital Partners
Astara Capital Partners is an integrated team of investors and operators investing in the middle market. The firm brings capital, strategic, and operational resources to its investments to build sustainable value and position them for long-term success. Astara focuses on a variety of sectors where it has deep experience, including packaging and converting, food, building products, forest products, and industrial manufacturing, distribution, and services. More information about Astara can be found at www.astaracapital.com.
About Ally Building Solutions
Founded in 2013 and headquartered in Orlando, Florida, Ally Building Solutions provides interior finishes, installation, and design studio services to new homebuilders in Orlando, Jacksonville, Ocala, Tampa, and Ft. Myers, Florida. Ally’s Founder, Steve Spade, is a recognized expert in flooring and interior finishes, having spent over 35 years providing these products to the homebuilding industry.
More information about Ally can be found at www.allybuildingsolutions.com.
SOURCE Astara Capital Partners