Astara Capital Partners – a middle-market private equity firm, announced today that an affiliate of Astara Capital Fund I, L.P. – announced it invested in Ally Building Solutions. Launched 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 for the residential home market.
The company operates a network of design studios allowing homebuyers to select the products they want installed in their new home.
Robinson Bradshaw Hinson served as legal advisor and Rothschild as financial advisor to Astara and O’Connor UBS and Bank United provided financing for the transaction. The deal terms were not disclosed.
KEY QUOTES:
“I am excited to partner with Astara. 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.”
- Steve Spade, Founder and Chief Executive Officer of Ally who will continue to lead the company
“Because Ally brings considerable value to both the homebuyer and the homebuilder, Steve and his team have been growing rapidly and taking market share. 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.”
- Chad Barton, Astara Operating Partner and Ally’s new Chairman of the Board
“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.”
- Michael Ranson, Managing Partner of Astara
