NewSpring Holdings, a US-based family of private equity strategies, said its buyout platform has raised $120 million in additional funding. Northleaf Capital Partners and Velocity Structured Solutions were the lead investors.
Radnor, PA – June 14, 2021 – NewSpring (“the Firm”), a family of private equity strategies, announced today that NewSpring Holdings, the Firm’s buyout strategy, has raised an additional $120 million led by Northleaf Capital Partners (“Northleaf”), a global private markets investment firm, and Velocity Structured Solutions. The investment supports the strategic growth and expansion of NewSpring Holdings’ existing platform companies and the acquisition of additional platforms, where the team seeks to consolidate fragmented markets with proven leadership and technology enablement.
NewSpring Holdings executes a buy-and-build strategy that identifies, acquires, and assists in transforming founder and family-led businesses in the lower-middle market.
Over the past six years, the NewSpring Holdings team has propelled its four platform companies to over $700 million in consolidated revenue by executing its proven methodology of driving growth and margin improvement through the implementation of technology, infusion of talent, strategic M&A, and process standardization. With a focus on long-term capital, NewSpring Holdings aims to maximize value for owners, operators, and shareholders.
“Through NewSpring’s differentiated investment approach, we partner with family-run businesses and founders to create exponential growth,” said Skip Maner, NewSpring General Partner. “Our brand of partnership is ingrained in our operating experience and focused on the alignment of values with the management teams we invest in to maintain corporate culture and foster environments that allow for smart paths to sustainable growth.”
“The key to NewSpring’s successful strategy is how grounded and thoughtful they are in their approach to the human side of the businesses they lead,” said Emil Fajersson, Director at Northleaf. “To scale their existing platform companies so effectively speaks to their firsthand experience as former operators themselves combined with an unmatched passion for building businesses. We are thrilled to partner with this team as they continue to expand on the success they’ve already achieved.”
NewSpring Holdings continues to broaden the reach of its investment approach with acquisitions into new fragmented markets using its deep network of industry leaders and influencers across a wide array of operational areas and sectors.
“Strategic M&A is fundamental to our next stage of growth, and this capital infusion will help propel our platform expansions forward,” said Lee Garber, NewSpring Holdings Partner. “We are extremely proud of the collective growth our existing platform companies have had to date and look forward to continuing to partner with more innovative founders and business owners in the future.”
NewSpring Holdings, NewSpring’s dedicated buyout strategy focused on long-term platform builds, leverages proven operational methodologies to accelerate the growth of family-run and owner-operated companies, creating institutionalized platforms of scale. Founded in 1999, NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages over $2.0 billion across four distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. To learn more, visit www.newspringcapital.com.
About Northleaf Capital Partners
Northleaf Capital Partners is a global private markets investment firm with US$16 billion in private equity, private credit and infrastructure commitments under management on behalf of public, corporate and multi-employer pension plans, endowments, foundations, financial institutions and family offices. Northleaf’s 150-person team, located in Toronto, Montreal, London, New York, Chicago, Menlo Park and Melbourne, is focused exclusively on sourcing, evaluating and managing private markets investments globally. Northleaf’s portfolio includes more than 400 active investments in 40 countries, with a focus on mid-market companies and assets. For more information on Northleaf, visit www.northleafcapital.com.
About Velocity Structured Solutions
Velocity Structured Solutions manages multiple pools of capital dedicated to providing cost-effective, long-term capital to help sponsors of any fund type or sector enhance returns, optimize portfolio company balance sheets, or create liquidity for growth, succession planning or distributions. To learn more, please visit www.velocitycapllc.com.