Astara Capital Partners Formalizes Strategic Advisor Program

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Feb 27, 2024, 09:22 ET

NEW YORK, Feb. 27, 2024 /PRNewswire/ -- Astara Capital Partners, L.P. ("Astara") is pleased to announce the formation of its Strategic Advisor Program with the addition of nine senior executives. Chad Barton, an Astara operating partner, is responsible for managing the Strategic Advisor Program to maximize the impact of these resources for companies acquired and managed by Astara's inaugural fund, Astara Capital Partners Fund I, L.P.

"We have longstanding relationships with our Strategic Advisors and actively rely on them to source opportunities, provide operational and due diligence services, provide strategic and functional insights throughout the acquisition and management processes, and to serve as officers, board members, and consultants for our companies", said Mr. Barton. "They help Astara invest wisely and help portfolio company management teams execute their value creation plan."

Additions to the program include:

Jeff Leventhal, an experienced entrepreneur and investor who has led multiple software and marketplace companies with a particular focus on labor management solutions. He serves as a Director of three Astara companies including BDV Solutions, Del Air Heating & Air Conditioning, and Ally Building Solutions.
Doug Kitani, an experienced executive in Aerospace / Defense / Government Services who previously served as the CEO of IAP Worldwide Services and CEO Erickson Inc. A graduate of the U.S. Military Academy at West Point, Mr. Kitani has a background in finance and strategy and has completed over 25 M&A transactions worth over $5 billion.
Strategic Advisors in the building products industry include:
- Clint Szubinski, the Chief Operating Officer of Meritage Homes, the fifth largest homebuilder in the United States.
- Robert Pearce, the former Executive Vice President of Huttig, a national two-step distributor of building products. Mr. Pearce serves as a Director of two Astara companies, Cross City Lumber and Ally Building Solutions.
- Steve Herron, the Chief Operating Officer of Builders First Source, the nation's largest building material distributor.
- Tony Hartsgrove, the Chief Executive Officer of ODC Construction, the largest shell contractor in the Southeast. Mr. Hartsgrove serves as a Director of two Astara companies, Del Air Heating & Air Conditioning and Ally Building Solutions.
Strategic Advisors in the food and packaging industries include:
- Ken Romanzi, the former CEO of B&G Foods, President of Fresh Foods at WhiteWave and COO at Ocean Spray, Mr. Romanzi serves as CEO and Board Director of Wyandot Snacks, an Astara portfolio company.
- Greg Powell, who has over a decade of executive leadership in the packaging industry, including recently as President of three business units at Winpak (TSE: WPK). Mr. Powell is currently CEO of Garlock Flexibles, an Astara portfolio company.
- Sean Condon, has decades of experience in the protective packaging industry and previously served as President of Ivex Corporation and EVP of Sales at Pregis.

"We are grateful for the opportunity to work with executives of this caliber and are humbled by their desire to work alongside the Astara team. Marrying investment acumen, operational experience, and strategic insight is core to how Astara adds value to its investments" said Michael Ranson, Managing Partner of Astara.

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.

SOURCE Astara Capital Partners