Astira Capital Partners, a private equity firm specializing in technology and data-driven services, has acquired ConData Global, a market leader in freight post-audit and transportation spend management solutions. This strategic acquisition strengthens Astira’s portfolio and highlights its commitment to investing in innovative companies within the logistics sector.
ConData Global: Expertise in Freight Post-Audit
ConData Global stands out in the complex freight post-audit industry with its comprehensive capabilities across various transportation modes and geographical regions. The company boasts an impressive track record of client recoveries, achieved through a unique blend of proprietary technology and highly experienced audit professionals. ConData’s team of modal experts, averaging 15 years of experience, provides in-depth analysis of transportation spend for major global shippers, currently analyzing approximately $40 billion in freight spend annually.
Astira’s Investment Strategy: Focusing on Technology and Data-Driven Solutions
Astira Capital Partners was drawn to ConData Global due to its market-leading position and the specialized expertise required to effectively serve its clientele. Chris Ritchie, Partner at Astira, emphasized ConData’s transformative impact on the freight post-audit industry. Unlike competitors relying on manual processes, ConData utilizes proprietary technology and machine learning algorithms to automate the identification of complex billing errors, ensuring superior client outcomes. This advanced technology, combined with a team of expert auditors, creates a highly differentiated and effective hybrid model.
Growth Opportunities and Strategic Partnership
Astira’s investment will fuel ConData’s continued growth by supporting further investments in technology and human capital. This will empower ConData to provide even more comprehensive data-driven insights and streamline complex workflows for its clients. Azra Kanji, Founder and Managing Partner of Astira, expressed enthusiasm for the partnership, highlighting Astira’s experience in transaction processing and the freight brokerage industry. Kanji emphasized the alignment of ConData’s innovative capabilities and commitment to excellence with Astira’s investment philosophy.
Leadership Perspectives on the Acquisition
Linda Barros, CEO of ConData, expressed confidence in the partnership with Astira, citing their extensive experience and understanding of ConData’s future opportunities and challenges. Barros anticipates that Astira’s operational and strategic support will significantly accelerate ConData’s growth trajectory, driving innovation and delivering enhanced insights and offerings to customers.
Advisors and Legal Counsel
The acquisition was facilitated by Harris Williams as the exclusive financial advisor to ConData and Baker Hostetler as legal advisor. Wofford Advisors served as strategic advisor to Astira, while Kirkland & Ellis provided legal counsel.
About Astira Capital Partners
Founded in 2023 by Azra Kanji, Astira Capital Partners is a Boston-based private equity firm managing a $675 million Fund 1. The firm collaborates with founders and management teams to scale leading middle-market technology and data-driven services businesses. Astira’s partnership approach emphasizes value creation through investments in human capital, technology implementation, and operational best practices, particularly in sales & marketing and data science. The firm prioritizes investments in companies with established leadership in specific market niches.
