NewSpring Capital Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, NewSpring Capital has acquired 14 companies. It has also invested in 35 others.

NewSpring Capital’s most common sectors for investment areinformation technology (13%) and healthcare services (9%) . The Firm’s most common investment types include growth capital (54%) and buyout (lbo, mbo, mbi) (19%). In total, NewSpring Capital has invested in 29 US states and 4 different countries. Its largest (disclosed) acquisition occurred in 2021 when it acquired Star2Star Communications for $437M.

In the last 3 years, NewSpring Capital has exited 26 companies. The Firm’s most common exit type is trade sale (55%). NewSpring Capital’s largest (disclosed) exit occurred in 2019 when it sold Paragon Bioservices for $1.2B.

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M&A Summary

  • M&A Total Activity251
    • M&A Buy Activity174
    • M&A Sell Activity77
  • Total Sectors Invested 41
  • Total Countries Invested 4
  • M&A Buy/Sell Connections 127
  • M&A Advisors 5

NewSpring Capital

555 E. Lancaster Ave 3rd Floor,
Radnor, Pennsylvania 19087
United States
(610) 567-2380
www.newspringcapital.com
info@newspringventures.com

NewSpring Capital is a private investment firm focused on growth companies in the Mid-Atlantic US. The Firm can provide both growth equity and junior capital to prospective companies. NewSpring's target investment size for both mezzanine and equity financing is $2 to $5 million, although for new ventures, the Firm can commit up to $10 million. Sectors of interest include specialty manufacturing, technology, business services, information technology, life science, healthcare services, and medical devices. NewSpring Capital was formed in 1999 and is based in Radnor, Pennsylvania with an additional office in Short Hills, New Jersey.


Investment Criteria

Sectors of Interest: Apparel/Textiles, Building Materials, Business Services, Communications, Consumer Products, Consumer Services, Electrical Equipment, Electronics, Financial Services, Furniture, Healthcare Services, Information Technology, Internet Software and Services, Leisure, Life Science, Manufacturing, Marketing, Media, Medical Products, Retail, Safety/Security, Software, Technology Hardware

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Secondary Buyout, Stake Purchase

Geographic Preferences: East US, Midwest US, South US, West US

Transaction Criteria Min Max
Target Revenue 20 100
Target EBITDA 2 -
Investment Size - -
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '17 '18 '19 '20 '21 '22 T
Buy (11.4/yr) # 117 9 4 14 21 9 174
vol $142M $437M $579M
Sell (6.8/yr) # 43 8 8 5 7 6 77
vol $1.5B $530M $1.4B $600M $590M $4.6B
  251

Most Recent M&A

Company Date Value Type
D2K Traffic Safety, Inc. 2022-09-21 - Growth Capital
Naperville, Illinois · www.d2ktraffic.com
Emtec, Inc. 2022-09-06 - Secondary Buyout
Jacksonville, Florida · www.emtecinc.com
Avantus Federal 2022-08-05 590M USD Add-on Acquisition
McLean, Virginia · www.avantusfederal.com
Cordial 2022-07-26 - Venture
San Diego, California · www.cordial.com
Lynn Electronics, Inc. 2022-07-12 - Unknown
North Wales, Pennsylvania · www.lynnelec.com
We Pack It All LLC 2022-06-27 - Buyout (LBO, MBO, MBI)
Duarte, California · www.wepackitall.com
VCI Emergency Vehicle Specialists 2022-06-14 - Growth Capital
Berlin, New Jersey · www.vciambulances.com
Mountain Temp Services LLC 2022-04-13 - Growth Capital
Aspen, Colorado · www.mountaintemp.com
Federal Donuts 2022-04-05 - Growth Capital
Philadelphia, Pennsylvania · www.federaldonuts.com
TenFour 2022-03-02 - Add-on Acquisition
Morristown, New Jersey · www.tenfour.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Financeware 2018-01-01 VMS Hub 2022-04-04 1
West Chester, Pennsylvania · www.financewaregroup.com Jersey, New Jersey
Magna5 2016-11-10 Magna5 - Telecom Business 2021-08-10 1
Pittsburgh, Pennsylvania · www.magna5global.com Frisco, Texas
Financeware 2018-01-01 Vertical Management Systems, Inc. 2018-01-01 3
West Chester, Pennsylvania · www.financewaregroup.com Pasadena, California · www.vmshelp.com
Financeware 2018-01-01 Wealthcare Capital Management LLC 2018-01-01 2
West Chester, Pennsylvania · www.financewaregroup.com Richmond, Virginia · www.wealthcarecapital.com
Magna5 2016-11-10 X5 Solutions, Inc. 2016-11-10 8
Pittsburgh, Pennsylvania · www.magna5global.com Seattle, Washington · www.x5solutions.com
Magna5 2016-11-10 NovaTel Ltd. 2016-11-10 7
Pittsburgh, Pennsylvania · www.magna5global.com San Antonio, Texas · www.novatelnetworks.com
Magna5 2016-11-10 CornerStone Telephone Co. 2016-11-10 6
Pittsburgh, Pennsylvania · www.magna5global.com Troy, New York · www.cornerstonetelephone.com

M&A by Sector

Sector Current # Value All-time # Value
Information Technology 8 (10%) - 22 (13%) -
Internet Software and Services 10 (13%) - 15 (9%) 81M (14%)
Healthcare Services 10 (13%) - 15 (9%) 14M (2%)
Software 9 (12%) 13M (3%) 15 (9%) 13M (2%)
Business Services 2 (3%) - 12 (7%) -
Manufacturing 5 (6%) - 11 (6%) 13M (2%)
Life Science 1 (1%) - 11 (6%) 11M (2%)
Medical Products 2 (3%) - 9 (5%) -
Communications 1 (1%) 437M (97%) 8 (5%) 437M (76%)
Aerospace 2 (3%) - 5 (3%) -
Consumer Products 3 (4%) - 5 (3%) -
Marketing 2 (3%) - 4 (2%) -
Building Materials 2 (3%) - 3 (2%) -
Construction 3 (4%) - 3 (2%) -
Leisure 1 (1%) - 2 (1%) 9M (2%)
Apparel/Textiles - - 2 (1%) -
Consumer Services 1 (1%) - 2 (1%) -
Environmental 1 (1%) - 2 (1%) -
Financial Services 1 (1%) - 2 (1%) -
Franchising 2 (3%) - 2 (1%) -
Information Services - - 2 (1%) -
Packaging 2 (3%) - 2 (1%) -
Restaurants 2 (3%) - 2 (1%) -
Technology Hardware - - 2 (1%) -
Automotive 1 (1%) - 1 (1%) -
Digital Media 1 (1%) - 1 (1%) -
Distribution - - 1 (1%) -
Diversified - - 1 (1%) -
E-Commerce 1 (1%) - 1 (1%) -
Education 1 (1%) - 1 (1%) -
Electrical Equipment - - 1 (1%) -
Energy Services and Equipment - - 1 (1%) -
Food 1 (1%) - 1 (1%) -
Furniture - - 1 (1%) -
Marine - - 1 (1%) -
Media - - 1 (1%) -
Plastics 1 (1%) - 1 (1%) -
Retail - - 1 (1%) -
Safety/Security - - 1 (1%) -
Staffing 1 (1%) - 1 (1%) -
Transportation 1 (1%) - 1 (1%) -
Total 78 $450M 175 $579M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 75 (96%) 450M (100%) 171 (98%) 579M (100%)
  Pennsylvania 15 (19%) - 42 (24%) 85M (15%)
  Massachusetts 8 (10%) - 17 (10%) 24M (4%)
  New York 11 (14%) 13M (3%) 15 (9%) 13M (2%)
  New Jersey 4 (5%) - 15 (9%) -
  California 8 (10%) - 13 (7%) 9M (2%)
  Florida 4 (5%) 437M (97%) 8 (5%) 437M (76%)
  Texas 4 (5%) - 7 (4%) -
  Maryland - - 7 (4%) -
  Virginia 4 (5%) - 6 (3%) -
  Illinois 2 (3%) - 5 (3%) -
  Washington 1 (1%) - 4 (2%) -
  Ohio 1 (1%) - 4 (2%) -
  Colorado 3 (4%) - 3 (2%) -
  Minnesota 1 (1%) - 3 (2%) 11M (2%)
  Georgia 1 (1%) - 3 (2%) -
  North Carolina - - 3 (2%) -
  Arizona 2 (3%) - 2 (1%) -
  Missouri 1 (1%) - 2 (1%) -
  Maine - - 2 (1%) -
  Wisconsin 1 (1%) - 1 (1%) -
  West Virginia 1 (1%) - 1 (1%) -
  Oregon 1 (1%) - 1 (1%) -
  Indiana 1 (1%) - 1 (1%) -
  Alabama 1 (1%) - 1 (1%) -
  Oklahoma - - 1 (1%) -
  Montana - - 1 (1%) -
  Michigan - - 1 (1%) -
  Louisiana - - 1 (1%) -
  Kentucky - - 1 (1%) -
Canada 2 (3%) - 2 (1%) -
  Ontario 2 (3%) - 2 (1%) -
Australia 1 (1%) - 1 (1%) -
Netherlands - - 1 (1%) -
Domestic 75 (96%) 450M (100%) 171 (98%) 579M (100%)
Cross-border 3 (4%) - 4 (2%) -
Total 78 $450M 175 $579M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 54 (69%) 13M (3%) 93 (53%) 13M (2%)
Buyout (LBO, MBO, MBI) 9 (12%) - 33 (19%) 48M (8%)
Venture 7 (9%) - 23 (13%) -
Secondary Buyout 2 (3%) - 9 (5%) -
Recapitalization 2 (3%) - 6 (3%) -
Add-on Acquisition 3 (4%) 437M (97%) 3 (2%) 437M (76%)
Going Private - - 2 (1%) 10M (2%)
Consolidation 1 (1%) - 2 (1%) -
Stake Purchase - - 1 (1%) 71M (12%)
Acquisition Financing - - 1 (1%) -
Divestiture - - 1 (1%) -
PIPE - - 1 (1%) -
Total 78 $450M 175 $579M

Exits by Deal Type

Type Total # Value
Trade Sale 23 (30%) 1.4B (33%)
Trade Sale - Public Company 22 (29%) 2.8B (67%)
Secondary Sale 20 (26%) -
Unknown 5 (6%) -
Merger 2 (3%) -
Recapitalization 2 (3%) -
Sold to Management 2 (3%) -
Stake Sale 1 (1%) -
Total 77 $4.2B

Top M&A Advisors

Financial Deals
Guggenheim Securities
1
Greene Holcomb & Fisher LLC
1
Baker Tilly Capital LLC
1
Legal Deals
Blank Rome LLP
2
Clifford Chance LLP
1

Deal Values

buy # Total
$100M to $1B 1 $437M
< $100M 7 $142M
TOTAL $579M
Largest Star2Star Communications LLC
$437M (2021-01-29)
sell # Total
> $1B 1 $1.2B
$100M to $1B 12 $3.4B
< $100M 2 $62M
TOTAL $4.6B
Largest Paragon Bioservices, Inc.
$1.2B (2019-04-15)

M&A Connections

Deals
Acquired from
Investor(s)
7%
13 (7%)
Exited to
Investor(s)
26%
20 (26%)
Strategic(s)
56%
43 (56%)

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