Middle market private equity firm
Astara Capital Partners
- HeadquartersNew York, NY S7
- Founded2020 S6
- Websiteastaracapital.com
- Last verifiedOctober 26, 2026
At a glance
| Latest fund | Astara Capital Fund I, $312M (Sep 2023) S6 |
|---|---|
| EBITDA range | Up to $50M S4 |
| Revenue range | $40M+ S4 |
| Check size | $20M to $100M S4 |
| Deal types | Platform, Add-on S4 |
| Geography | United States, Canada S4 |
| Sectors | Roofing, HVAC, Plumbing & Electrical, Environmental & Waste, Industrial & Manufacturing, Consumer & Food, Construction Services |
What Astara Capital Partners buys
Astara Capital Partners is a New York private equity firm, started in 2020, that pairs investors with former operators and buys middle market companies in the United States and Canada. Its criteria call for more than $40 million of revenue, EBITDA of up to $50 million and an equity check of $20 million to $100 million, on deals of up to $250 million; it will go larger with help from its own investors. It prefers control and often looks for a catalyst, such as a family or founder seeking a partner, a corporate carve-out, a restructuring or a turnaround. Its target industries are business services, building products, manufacturing and distribution, IT services, food, and packaging.
Its first fund closed at $312 million in 2023. Current holdings include Del-Air, a Florida HVAC, plumbing and electrical provider, the roofing platform Unified Service Partners, Garlock Flexibles in packaging and Dynatec Systems in industrial wastewater treatment. Del-Air and Unified Service Partners keep buying local companies, so a smaller home services business is most likely to meet Astara as an add-on to one of them.
Recent deals
Announced in the 24 months before October 26, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Aug 2026 | Dynatec SystemsProvider of membrane-based industrial wastewater treatment systems plus aftermarket products and services | Platform | Environmental & Waste | Source |
| Mar 2026 | C-P Flexible PackagingMerged into Garlock Flexibles in October 2025 through a continuation vehicle Astara led, creating a 10-plant packaging maker | Add-on | Industrial & Manufacturing | Source |
| May 2025 | Pro RestorationUnified Service Partners' first acquisition in the Midwest | Add-on | Roofing | Source |
| May 2025 | Trademark Roofing and Titan RoofingTwo Florida roofers added to Unified Service Partners; their leaders keep running daily operations | Add-on | Roofing | Source |
| Mar 2025 | Keystone Energy & Power CorporationAdded to Del-Air's RNC division | Add-on | HVAC, Plumbing & Electrical | Source |
| Jan 2025 | Unified Service Partners (Level, Envision and Pappas Roofing)New re-roofing platform built from roofers in Orlando, Prosper and Plano; all four founders stayed on as owners | Platform | Roofing | Source |
| Nov 2024 | Colman Heating & AirAdded to Del-Air on Florida's Fun Coast | Add-on | HVAC, Plumbing & Electrical | Source |
Portfolio by sector
From the firm's portfolio page S5.
Accounting & Professional Services
- BDV Solutions
Construction Services
- Ally Building Solutions
Consumer & Food
- Wyandot
Environmental & Waste
- Dynatec Systems
HVAC, Plumbing & Electrical
- Del-Air
Industrial & Manufacturing
- ACP Lumber (Cross City Lumber)
- Garlock Flexibles
Roofing
- Unified Service Partners
Greymont’s take
How Astara Capital Partners fits a seller
Astara suits two kinds of sellers: a family or corporate owner with a business that needs real change, and a home services owner who wants to join a growing platform. Its strategy page says it often backs companies going through a major transformation, and it says it keeps debt low so companies can keep investing. In its roofing deals, the founders stayed on as owners and kept leading their branches, so an owner can sell a majority and still run the business.
Because Astara builds a detailed value creation plan with management and leans on its operating partners, an owner should ask what that plan would change in the first year, which operating partner would be involved, and how much of the sale price the owner would be expected to roll into the new company.
Questions owners ask
How big does a company need to be for Astara?
Its criteria list revenue above $40 million, EBITDA of up to $50 million and an equity investment of $20 million to $100 million per deal. Its platforms also buy local businesses as add-ons, such as the roofers acquired by Unified Service Partners and the HVAC companies acquired by Del-Air.
Does Astara buy roofing and HVAC companies?
Yes. It owns Del-Air, a Florida HVAC, plumbing and electrical provider that keeps adding local companies, and in January 2025 it formed Unified Service Partners, a re-roofing platform in Florida and Texas that later expanded into the Midwest.
Do founders stay on after selling to Astara?
In its roofing platform, yes. The founders of Level, Envision and Pappas Roofing kept ownership and kept leading their branches, and the leaders of Trademark and Titan Roofing continued to run daily operations.
Sources
- S1Astara Capital Partners home page Accessed October 26, 2026
- S2Astara Capital Partners: About Us Accessed October 26, 2026
- S3Astara Capital Partners: Strategy Accessed October 26, 2026
- S4Astara Capital Partners: Investment Criteria Accessed October 26, 2026
- S5Astara Capital Partners: Companies Accessed October 26, 2026
- S6Astara Capital Partners: Media (dated list of releases, including the September 7, 2023 inaugural fund close at $312 million and the July 2020 launch) Accessed October 26, 2026
- S7Astara Capital Partners: Contact (New York office address) Accessed October 26, 2026
- S8Astara forms roofing platform Unified Service Partners (January 22, 2025) Accessed October 26, 2026
- S9Unified Service Partners Expands Florida Presence with Investments in Trademark Roofing and Titan Roofing (May 5, 2025) Accessed October 26, 2026
- S10Astara Capital Partners Investment Supports Garlock Flexibles Merger with C-P Flexible Packaging (March 11, 2026) Accessed October 26, 2026
- S11Astara Capital Partners: Dynatec Systems Accessed October 26, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Astara Capital Partners. Figures are as reported on the dates shown and may have changed. Request a correction