Astra launch
Astra Holding Successfully Completes First Capital Raise and Acquires Leading Specialist Industrial Door Supplier in Northeast England
Astra Holding, a business that focuses on preserving the legacy of small and medium-sized enterprises (SMEs) across the UK, is pleased to announce the successful completion of its first capital raise and its inaugural acquisition of Interdoor, a leading supplier of specialist industrial doors and associated maintenance services across the UK.
Preserving Legacy, Driving Growth
Astra was founded to address two critical challenges facing many British businesses: succession planning, and driving business innovation and growth. Nearly half of UK businesses lack a formal management succession plan, with a number of business owners fast approaching retirement age. Recent research shows that 69% of UK businesses are likely to sell or divest their companies within the next 10 years as a result. In addition, there are over 30,000 financially-viable SMEs that are likely to permanently close down operations due to a lack of succession planning.[1] Astra offers a solution that ensures continuity for employees, customers, and communities, all while focused on supporting the company’s growth.
“We founded Astra to protect the legacy of small, family-owned businesses that are the backbone of Britain’s economy,” said Sergey Sushentsev, Co-Founder of Astra Holding. “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.”
Successful Fundraise and First Acquisition
Astra’s initial fundraising round was backed by a select group of private and institutional investors, including Allica Bank, a London-based digital challenger bank that provides banking support and services to established SMEs (those with 5-250 employees). The proceeds from the fundraise will be used to support the company’s strategy of acquiring profitable, succession-challenged businesses in the UK’s industrial heartlands.
Richard Davies, CEO at Allica Bank, commented: “Allica is dedicated to serving the UK’s established SMEs - a segment typically overlooked and underserved, yet that is the backbone of our economy. Our philosophy aligns with Astra’s, and we are proud to partner with this strong team - Amit and Sergey are building a really impressive platform that is looking to solve a great need for UK SMEs . We’re excited to collaborate with Astra to help more established businesses continue to thrive.”
Spark Growth Ventures, a multi-strategy firm with a global mandate around mid-stage venture capital and micro private equity, also took part in Astra’s first fundraising round.
“The Astra strategy addresses a large and critical gap that exists for SMEs that are neither a fit for high-growth venture nor traditional private-equity models but can benefit from the support of patient capital and professional operators. We have studied the positive impact of Astra-like models across North America and Europe, leading to better owner, employee, societal as well as investor returns and are, therefore, excited to partner with Astra. Having known Amit for over 17 years and now Sergey also, we have high confidence in their “operator-first” approach and business acumen, and are looking forward to working with them as they build a multi-decade platform,” said Hem Suri, Founder & Managing Partner of Spark Growth Ventures.
In its first acquisition, Astra has acquired Interdoor, a Hull-based specialist industrial doors service company established nearly 45 years ago. The company has 25 employees and serves some of the top blue-chip companies in the UK.
The acquisition aligns with Astra's mission to provide tailored succession solutions to British businesses, helping founders secure the future of their companies while maintaining their legacy, values, and strong ties to local communities.
Mark Roberts, Managing Director of Interdoor, commented on the acquisition: “We are delighted to join forces with Astra Holding as we enter the next chapter of our growth. Having worked in the business for almost 15 years, I have watched Interdoor evolve and grow into one of the leading providers of industrial door maintenance and installation services. Now, working with Astra, I look forward to seeing the continued growth and success of Interdoor in the many years to come.”
Astra’s acquisition model is built on driving innovation and growth by introducing best-practice governance, digitising operations to improve efficiency, as well as offering growth share incentives for employees. This comprehensive approach ensures that each company not only survives the ownership transition but thrives under Astra’s stewardship.
“The acquisition of Interdoor is just the beginning of our journey,” added Amit Rai, Co-Founder of Astra Holding Group. “We aim to continue supporting UK SME businesses and taking care of their employees over the next decade. Our focus is on delivering sustainable growth while preserving the character and legacy of each business we acquire.”
For more information, please contact:
Simon Evans / Veronica Farah
+44 (0) 7710 117 517
[1] 2023, 'Generation EO' report, Ownership at Work, https://ownershipatwork.org/wp-content/uploads/2023/11/Generation-EO-The-Great-Employee-Ownership-Succession-Opportunity.pdf
