NextGen Growth Partners Announces Successful Exit from ConData

CHICAGO--(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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240724547185/en/

Media Contact
Mackenzie Hill, Communications and Talent Manager
[email protected]

Source: NextGen Growth Partners

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