NextGen Growth Partners Announces Successful Exit from ConData
24 July 2024 - 10:00AM
Business Wire
NextGen Growth Partners ("NGP") announced today that they have
signed a definitive agreement to sell ConData Global ("ConData"), a
global freight post audit and transportation spend analysis
provider, to Astira Capital Partners. This marks a tremendous
outcome for NGP.
Since 1956, ConData has been dedicated to delivering service
excellence in global freight post audit, helping thousands of
international brands optimize their transportation spend. ConData
provides a comprehensive suite of professional solutions, including
freight auditing, recovery services, and advanced data analytics to
Fortune 500 companies and other major corporations across various
industries.
Following NGP's acquisition in 2018, ConData expanded its
technological capabilities and streamlined its processes,
solidifying its position as the industry leader in freight
post-audit technologies. This period saw significant investments in
automation and digital transformation, enhancing the company's
ability to serve its growing roster of high-profile clients. In
2020, ConData joined forces with TNL Global to expand logistics
spend management solutions and optimization services.
"NextGen Growth Partners is immensely proud of our partnership
with ConData, and we are honored to usher the team into this next
phase of long-term growth under Astira's ownership," shared NGP
Managing Partner Brian O'Connor. "This successful exit is a
testament to our hands-on approach and commitment to working
closely with innovative companies like ConData. We look forward to
partnering with future operators as we continue our mission of
accelerating growth and positioning companies for enduring success
in their respective markets."
"I am grateful for the ongoing support from the NGP team over
the last six years," said CEO Linda Barros. "NGP was instrumental
in navigating industry changes and accelerating our digital
transformation. We are undoubtedly well-positioned for further
growth and expansion as we embark on this exciting new
chapter."
The acquisition process was supported by Harris Williams, who
served as the sole financial advisor to ConData, and Baker
Hostetler, who acted as legal advisor to ConData. Wofford Advisors
served as strategic advisor to Astira, while Kirkland & Ellis
provided legal counsel to Astira.
About NextGen Growth Partners
Headquartered in the West Loop neighborhood of Chicago, NextGen
Growth Partners is a private equity firm that partners with the
best and brightest entrepreneurial talent to acquire, operate and
grow lower middle market businesses across a variety of industries.
The team has a strong track record of creating value through growth
and operational improvement in middle market businesses.
About ConData Global
ConData Global, founded in 1956, is the largest and most
respected provider of freight post audit and recovery services in
the world. With a history of technological innovation and a
commitment to client service, ConData Global serves numerous
Fortune 500 companies and continues to lead the industry in freight
post-audit technologies.
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 and data-driven
services business. 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. The firm prioritizes investments in
businesses with demonstrated leadership in well-defined market
verticals or niches.
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Media Contact Mackenzie Hill, Communications and Talent Manager
mhill@nextgengp.com