December 06, 2019

Croft & Bender Serves as Financial Advisor to Astra Group Holdings, Inc. in its Sale to Equix, Inc.

Croft & Bender, an Atlanta-based investment banking firm, is pleased to announce the successful sale of its client, Astra Group Holdings, Inc. (“Astra”), to Equix, Inc. (“Equix”).

Headquartered in Atlanta, Georgia, Astra is a leading provider of general contracting and related construction services to private, commercial, government and municipal entities throughout the Southeast. The Company employs a team of more than 160 people that boasts over 200 combined years of construction project management and field supervision experience. Astra is a trusted partner to both private companies and public entities, delivering high quality work on time and within budget.

Croft & Bender served as the exclusive financial advisor to Astra on the transaction. "It was a pleasure working with the C&B team from initial meetings through closing. Their extensive network, experience and expertise effectively positioned the Company for a great outcome with Equix. This is a wonderful opportunity for Astra to enter its next 25 years as part of Equix, a company with core values closely aligned to those on which Astra is built. Becoming a part of Equix positions us for the future filled with abundant opportunities for growth and success," said President of Astra, Andrew Lindsay. "This transaction will put Astra into a position to achieve its goal of being the premier infrastructure, public facility and heavy civil contractor in the Southeast and is a great opportunity for all the Astra family," added Founder and Chairman, Ian Lindsay.

“The acquisition of Astra represents a significant milestone in our goal of continuing to grow as a premier provider of infrastructure services throughout the United States,” said Jerrod Henschel, President and CEO of Equix. “The portfolio of services currently offered by Astra is a true complement to Equix. There are strong synergies between the businesses that will enable Equix to expand the organization’s service offerings and geographic footprint to better serve our customer base.”

“We thoroughly enjoyed the opportunity to advise Andrew and Ian Lindsay throughout the deal process. They have built a truly differentiated business, and Equix was the ideal partner to support them in their next phase of growth,” commented Bo Briggs, Managing Director at Croft & Bender.