New State Capital Partners has hired Miriam Diwan as head of investor relations; Steven Mayotte as operating partner, technology enablement; and Michael Bernardi as an associate. Also, the firm has promoted Adam McDowell to vice president.
LARCHMONT, NEW YORK – January 13, 2022 – New State Capital Partners (“New State”) today announced the addition of three executives and a promotion. Miriam Diwan joins the firm as Head of Investor Relations; Steven Mayotte was named Operating Partner, Technology Enablement; and Michael Bernardi joins the investment deal team as an Associate. Ms. Diwan joins a growing presence in Los Angeles and Orange County, CA, while the others are based in Larchmont, NY. In addition, the firm has promoted Adam McDowell to Vice President. New State is a middle-market private equity firm that invests in business services, industrials, and consumer products.
“It’s our pleasure to start off the new year welcoming these three experienced members to our team, while acknowledging Adam’s well-deserved promotion,” said David Blechman, Founder and Senior Principal of New State. “With our recent investments in Avex, Arbor Works and Wilmington Paper, we are on our way to another year of rapid growth, and I’m certain that Miriam, Steve and Michael will be instrumental in contributing to our continued success.”
Ms. Diwan brings 15 years of private equity and investment banking experience across a variety of industries, both as a principal investor and an investor relations practitioner. Before joining New State, she was Director of Investor Relations at Levine Leichtman Capital Partners, a $9B middle-market private equity firm based in Los Angeles. Previously, Ms. Diwan was a part of the investment team at Amzak Capital, and prior to that, Sun Capital Partners.
Mr. Mayotte joins New State with 15 years of experience in executive management and high-tech consulting. He has operational experience developing strategy and executing transformational solutions across a range of industries including financial services, hospitality, healthcare, and real estate. Mr. Mayotte was most recently the Chief Information Officer at PAYOMATIC, responsible for developing and implementing innovative strategies to create value using technology and for leading the company’s digital transformation.
Prior to joining New State, Mr. Bernardi was a Private Equity Associate at Stonebridge Partners, where he covered a variety of industries, including aerospace and defense, building products, business services, construction & installation, and food & beverage.
About New State Capital Partners
New State Capital Partners LLC is an entrepreneurial-minded private equity firm that strives to be nimble, decisive and cooperative. New State prides itself on a long-term outlook, approaching each potential investment as an opportunity to create lasting and valuable relationships with company founders and especially independent sponsors. The firm has the ability to invest up to $100 million in equity per transaction and seeks to invest in market-leading companies with $8 million to $40 million of EBITDA in the areas of business services, industrials, and consumer. New State and its affiliates have invested in 31 companies to date. For more information visit www.newstatecp.com.