NewSpring Holdings buys VMS

NewSpring Capital‘s NewSpring Holdings LLC has acquired Pasadena, California-based Vertical Management Systems Inc, a provider of data, financial networking and account aggregation technology. No financial terms were disclosed. Broadhaven Capital Partners served as financial adviser to VMS on the transaction.


Pasadena, CA―January 4, 2017― NewSpring Holdings, LLC, NewSpring Capital’s dedicated buy and build strategy, recently announced the completion of the acquisition of Vertical Management Systems, Inc. (VMS), headquartered in Pasadena, CA.

VMS is a technology innovation firm which provides integrated solutions to solve today’s key issues like fiduciary risk, fee transparency, and revenue reconciliation. VMS processes over $600 billion in assets, 5 million accounts, and 500,000 trades annually.

“Since joining NewSpring Holdings, we’ve been evaluating various platforms to launch a new financial services growth initiative,” said Jim Ashton, General Partner, NewSpring Holdings. “When NewSpring learned of the VMS opportunity and given my years of experience working with Kevin and Bob, we mutually determined that the VMS product set, combined with its blue-chip client roster, provides the strongest opportunity for expansion through growth and acquisition.”

“Upon becoming CEO of VMS over a year ago, our CRO, Bob Ward and I have been evaluating ways to accelerate growth to leverage the solid product foundation built up over 25 years,” said Kevin Rafferty. “Partnering with NewSpring Holdings will provide us with the missing pieces to help complete our corporate vision. VMS is well-positioned to meet the increasing demands of this ever-changing financial technology industry. Our solutions address many of today’s regulatory challenges. We will now be able to enhance the investment in our business to continue providing our clients with industry-leading, robust, and innovative processing platforms.”

The acquisition of VMS provides NewSpring Holdings with the opportunity to leverage three industry-leading core products, forming the ideal platform for organic growth, while also pursuing an aggressive acquisition strategy. The transaction reflects NewSpring’s continued commitment to applying industry and operational expertise, scale, and leverage to companies like VMS, to increase growth and profitability.

Broadhaven Capital Partners acted as exclusive financial advisor to VMS and Kunzler Law Group served as its legal counsel. Blank Rome LLP served as legal counsel to NewSpring Holdings.

About NewSpring Holdings
NewSpring Holdings, LLC, NewSpring Capital’s dedicated buy and build strategy, focuses on control buyouts and platform builds, targeting profitable, growing companies seeking a financial partner to better assist them in achieving their goals. NewSpring Capital, based in Radnor, PA., collectively manages more than $1.5 billion of committed capital supporting more than 120 portfolio companies across its growth equity, control buyout and mezzanine debt strategies. Combining deep operating knowledge with financial and investing expertise, NewSpring Capital provides growing companies the financial resources, advice, network of contacts and strategic partnerships necessary to be successful. For more information, please visit

About Vertical Management Systems, Inc. (VMS)
Vertical Management Systems (VMS) is one of the nation’s leading providers of data, financial networking, and account aggregation technology. For nearly 25 years, VMS has designed, developed and hosted accounting and securities process-and-control solutions for the largest financial institutions in the United States. VMS’s three core products include its retirement platform, Retirement Revolution, a leading supplier of next-generation retirement solutions; Mutual Fund Desk (MFD), a mutual fund process-and-control platform; and Specialized Information Services (SIS), a comprehensive source of customized and audited financial data.

For more information, please visit

Team Leader
Kevin Rafferty is President & CEO at Vertical Management Systems. He is a senior operating executive at the intersection of financial services and technology with turnaround expertise and experience in opening new markets in Asia and Europe. He became CEO of VMS in April 2015. He graduated from Northwestern University’s Kellogg School of Management.

His areas of expertise include: Strategic partnerships, portfolio management, wealth management, financial services, hedge funds, and trading systems.
Team LeaderRobert Ward is Chief Revenue Officer of Vertical Management Systems. He has years of experience opening up new markets in Asia and Europe. He received his MBA in International Business from Bentley University in 1998. Before establishing RS Advisory Services, Ward was Chief Operating Officer (COO) for SunGard Wealth Management.. Prior to his wealth management role, Ward was the COO for the SunGard Transaction Network. Under his leadership, the company surpassed $400 billion in total fund assets and burgeoned into one of the largest global financial services networks in the world. Additionally, Ward successfully propelled its business endeavors to EMEA and the Pacific Rim.

His areas of expertise include: Retirement services, portfolio management, wealth management, financial services, hedge funds, Equities

James Ashton
Jim Ashton is a General Partner at NewSpring Holdings. Previously, he was and Operating Partner at various private equity firms and was the former Division CEO at SunGard Financial Systems.