CityAM coverage of Astra launch

A new start-up set out to protect the legacies and values of Britain’s family businesses has secured its first ever acquisition and funding round backed by the UK’s fastest growing firm Allica Bank.

Astra Holding, founded by entrepreneurs Amit Rai and Sergey Sushentsev earlier this year, has announced the acquisition of Hull-based industrial doors supplier Interdoor, a family-owned business established nearly 45 years ago.

The firm’s acquisition model includes a keen focus on innovation through “best-practice governance, digitising operations to improve efficiency, as well as offering growth share incentives for employees.”

The acquisition also follows the close of Astra’s first ever funding round backed by a number of institutional investors such as Allica Bank and Spark Growth Ventures.

“We founded Astra to protect the legacy of small, family-owned businesses that are the backbone of Britain’s economy,” Sushentsev said.

Sushentsev added: “We see the value that these businesses bring to their local communities and economies, because we’ve witnessed the devastating impact that their loss can have firsthand.

“Our model is designed to ensure that the potential and opportunity local businesses provide is preserved, while simultaneously helping to drive growth and innovation of the business under new ownership.”

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