Astor Place Holdings is the lower middle market private equity arm of Select Equity Group (SEG), an investment firm founded in 1990. It focuses on control investments in businesses in a handful of narrowly defined sectors (economic value chains) that Select Equity has studied and invested in. Astor migrates toward businesses that can grow with an unusual level of predictability, have high returns on invested capital, and have well-established barriers to competition that affords them pricing power. This has led the firm over multiple decades to develop domain expertise in value chains such as life science equipment & tools, test & measurement, aerospace & defense, and niche industrials.