MSCP buys exterior replacement services firm Allstar

• TD Cowen and William Blair served as financial advisors to MSCP while Robert W. Baird & Co served as financial advisor to Allstar
• Allstar was founded in 1979
• MSCP has $1.4 trillion in assets under management or supervision as of March 31, 2023

Morgan Stanley Capital Partners has acquired Minneapolis-based Allstar Services, a provider of residential exterior replacement, repair and maintenance services. No financial terms were disclosed.

Allstar’s current management team led by Chairman Pete Carlson will continue to lead the business.

Allstar was founded in 1979.

On the deal, Adam Shaw, managing director and head of business services at MSCP, said in a statement, “We are excited to partner with Pete and the Allstar team as they continue building a leading platform across residential exterior services. For MSCP, Allstar marks our continued efforts within residential services, where we plan to execute against our core playbook of investing in focus sub-sectors which we believe will allow us to drive value creation through key strategic and operational initiatives. We look forward to working together to continue accelerating the company’s exciting growth trajectory.”

Debevoise & Plimpton served as legal counsel to MSCP. TD Cowen and William Blair served as financial advisors to MSCP while Robert W. Baird & Co served as financial advisor to Allstar.

MSCP is part of Morgan Stanley Investment Management. MSCP invests in the middle market and has $1.4 trillion in assets under management or supervision as of March 31, 2023.