Houlihan Lokey Advises Astira Capital Partners

Houlihan Lokey is pleased to announce that Astira Capital Partners (Astira), a private equity firm focused on technology-enabled and data-driven services, has acquired Altus Commercial Receivables (Altus), a leading provider of commercial receivables management solutions and the commercial services division of ARMStrong Receivable Management, from BharCap Partners, LLC. The transaction closed on September 18, 2025.

Astira is a Boston-based private equity firm founded in 2023 by Azra Kanji and investing out of a $675 million Fund I. Astira partners with like-minded founders and management teams to scale leading middle-market technology-enabled and data-driven services businesses. 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 and marketing and data science.

As a leader in commercial receivables management, Altus provides businesses with solutions to address challenges within the office of the CFO, including unpaid invoices and cash flow management. The company combines the expertise of seasoned professionals and industry-leading technology to deliver strong results for clients. Altus leverages intelligent automation and advanced analytics to streamline and accelerate collection processes, serving as a trusted partner to both small enterprises and multinational organizations across all industries.

Astira’s investment will accelerate Altus’ technology roadmap and strengthen its ability to deliver market-leading outcomes for clients. “Altus’ platform and unwavering commitment to professionalism, compliance, and client outcomes align perfectly with Astira’s investment philosophy,” said Azra Kanji, Founder and Managing Partner of Astira. “We see tremendous opportunity to build on Altus’ leadership position and drive growth through investment in technology and human capital.”

Houlihan Lokey served as the buyside financial advisor to Astira, assisting in evaluating and negotiating the acquisition.

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