Astara invests in HVAC and home services firm Del-Air

• Robinson Bradshaw & Hinson, PA served as legal advisor to Astara while Stephens, Inc. served as financial advisor
• Astara invests in the middle market

Astara Capital Partners has made an investment in Sanford, Florida-based Del-Air, a provider of residential HVAC installation and service, plumbing, electrical home services and replacements, and light commercial HVAC services and replacements. No financial terms were disclosed.

Also, Astara has named Rick Rogers as CEO and Faizzy Saghir as chief operating officer of Del-Air.

“Del-Air has been the most recognized HVAC name in Central Florida for many decades and we are excited to partner with its employee owners in this investment” said Rob Groberg, a partner of Astara, in a statement. “As a result of Astara’s investment, Del-Air is debt free and has a capital structure that positions it to invest in its people, processes, and systems to drive growth across all of its business units.”

Robinson Bradshaw & Hinson, PA served as legal advisor to Astara while Stephens, Inc. served as financial advisor.

Astara invests in the middle market.