BOSTON–(BUSINESS WIRE)–Astira Capital Partners (“Astira”), a private equity firm focused on technology-enabled and data-driven services, completed the acquisition of Altus Commercial Receivables (“Altus”), a leading provider of commercial receivables management solutions. Altus was divested by ARMStrong Receivable Management, a BharCap Partners, LLC (“BharCap”) portfolio company.
As a leader in commercial receivables management, Altus provides businesses with solutions to address challenges within the office of the CFO, including unpaid invoices and cash flow management. The company combines the expertise of seasoned professionals and industry-leading technology to deliver strong results for clients. Altus leverages intelligent automation and advanced analytics to streamline and accelerate collection processes, serving as a trusted partner to both small enterprises and multinational organizations across all industries.
“Altus has built an impressive reputation as the leader in commercial receivables management,” said Chris Ritchie, Partner at Astira. “The company’s integration of proprietary technology, deep domain expertise, and a client-first approach makes them uniquely positioned to help businesses improve their working capital efficiency. We are excited to support Altus as they expand their platform and deliver even greater value to their clients.”
Astira’s investment will accelerate Altus’ technology roadmap and strengthen its ability to deliver market-leading outcomes for clients. “Altus’ platform and unwavering commitment to professionalism, compliance, and client outcomes align perfectly with Astira’s investment philosophy,” said Azra Kanji, Founder and Managing Partner of Astira. “We see tremendous opportunity to build on Altus’ leadership position and drive growth through investment in technology and human capital.”
“We are thrilled to partner with Astira as we continue to scale Altus,” said Jim McDermott, Chief Executive Officer of Altus. “Astira’s deep experience in technology-enabled services and its focus on value-added operational and strategic support will be instrumental in accelerating our growth. Together, we will continue to innovate and deliver best-in-class solutions for our clients.”
Guggenheim Securities LLC served as sole financial advisor to ARMStrong while Greenberg Traurig LLP acted as legal counsel. Houlihan Lokey Capital Inc. served as strategic advisor to Astira while Kirkland & Ellis LLP served as legal counsel.
About Astira Capital Partners
Astira Capital Partners is a Boston-based private equity firm founded in 2023 by Azra Kanji and investing out of a $675 million Fund 1. Astira partners with like-minded founders and management teams to scale leading middle-market technology-enabled and data-driven services businesses. Astira’s collaborative approach to partnership supports value creation through investments in human capital and technology, and by implementing best-in-class operational practices across the organization with particular focus on sales & marketing and data science. To learn more, please visit https://www.astiracp.com/.
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Lorena Richards
Astira Capital Partners
617-238-6014
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