NewSpring Capital Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, NewSpring Capital has acquired 6 companies. It has also invested in 20 others.

NewSpring Capital’s most common sectors for investment are information technology (13%) and healthcare services (8%). The Firm’s most common investment types include growth capital (50%) and buyout (lbo, mbo, mbi) (20%). In total, NewSpring Capital has invested in 25 US states and 3 different countries. Its largest (disclosed) acquisition occurred in 2012 when it acquired Internet Pipeline for $71M.

In the last 3 years, NewSpring Capital has exited 20 companies. The Firm’s most common exit type is trade sale (59%). 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 Activity182
    • M&A Buy Activity126
    • M&A Sell Activity56
  • Total Sectors Invested 37
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 94
  • M&A Advisors 3

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 ≤ '15 '16 '17 '18 '19 '20 T
Buy (7.4/yr) # 89 11 8 8 2 8 126
vol $164M $13M $177M
Sell (5.0/yr) # 31 5 3 6 7 4 56
vol $1.3B $260M $530M $1.4B $3.4B
  182

Most Recent M&A

Company Date Value Type
Atlantic Metro Communications, Inc. 2020-11-16 - Add-on Acquisition
Parsippany, New Jersey · www.atlanticmetro.net
Eastern Wholesale Fence Co., Inc. 2020-11-05 - Secondary Buyout
Medford, New York · www.easternfence.com
Veritas Medical Solutions LLC 2020-10-15 - Growth Capital
Harleysville, Pennsylvania · www.veritas-medicalsolutions.com
MicroAge 2020-09-01 - Growth Capital
Tempe, Arizona · www.microage.com
Fashionphile Group LLC 2020-08-27 - Growth Capital
Carlsbad, California · www.fashionphile.com
Prospect Mold, Inc. 2020-08-20 - Growth Capital
Cuyahoga Falls, Ohio · www.prospectmold.com
Skillshare, Inc. 2020-08-10 - Growth Capital
New York, New York · www.skillshare.com
Seniorlink, Inc. 2020-07-16 - Secondary Buyout
Boston, Massachusetts · www.seniorlink.com
MacroHealth 2020-06-10 - Going Private
Kirkland, Washington · www.macrohealth.com
Alpha Imaging, LLC 2020-06-01 - Sold to Management
Willoughby, Ohio · www.alpha-imaging.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Financeware 2018-01-01 QUODD Financial Information Services, Inc. 2019-03-05 1
West Chester, Pennsylvania · www.financeware.com Jersey City, New Jersey · www.quodd.com
Domaille Engineering LLC 2016-11-30 Stanley Engineering Co. 2019-02-07 2
Rochester, Minnesota · www.domailleengineering.com Glen Burnie, Maryland · www.stanleyeng.com
Radius Global Market Research 2018-07-19 Illumination Research, Inc. 2018-07-19 1
New York, New York · www.radius-global.com Mason, Ohio · www.illumination-research.com
Domaille Engineering LLC 2016-11-30 Tech Manufacturing LLC 2018-02-01 1
Rochester, Minnesota · www.domailleengineering.com Wright City, Missouri · www.techmanufacturing.com
Magna5 2016-11-10 NetServe365 2017-11-16 4
2828 N. Harwood St., Suite 1700, Texas · www.magna5global.com Pittsburgh, United States · www.netserve365.com
Rental Equipment Investment Corp. 2016-06-02 Columbia River Machinery LLC 2017-01-05 2
Miami Beach, Florida Hermiston, Oregon · www.crmachinery.com
Magna5 2016-11-10 X5 Solutions, Inc. 2016-11-10 3
2828 N. Harwood St., Suite 1700, Texas · www.magna5global.com Seattle, Washington · www.x5solutions.com
Magna5 2016-11-10 NovaTel Ltd. 2016-11-10 2
2828 N. Harwood St., Suite 1700, Texas · www.magna5global.com San Antonio, Texas · www.novatelnetworks.com
Magna5 2016-11-10 CornerStone Telephone Co. 2016-11-10 1
2828 N. Harwood St., Suite 1700, Texas · www.magna5global.com Troy, New York · www.cornerstonetelephone.com
Rental Equipment Investment Corp. 2016-06-02 Pro Rentals & Sales, Inc. 2016-06-02 1
Miami Beach, Florida Idaho Falls, Idaho

M&A by Sector

Sector Current # Value All-time # Value
Information Technology 9 (15%) - 16 (13%) -
Life Science 4 (6%) 35M (57%) 10 (8%) 46M (26%)
Healthcare Services 6 (10%) 14M (23%) 10 (8%) 14M (8%)
Software 5 (8%) - 10 (8%) -
Business Services 2 (3%) - 8 (6%) -
Medical Products 3 (5%) - 8 (6%) -
Internet Software and Services 2 (3%) - 7 (6%) 81M (46%)
Communications 1 (2%) - 7 (6%) -
Manufacturing 2 (3%) - 6 (5%) 13M (8%)
Marketing 4 (6%) 13M (20%) 4 (3%) 13M (7%)
Aerospace - - 3 (2%) -
Consumer Products 3 (5%) - 3 (2%) -
Information Services 1 (2%) - 3 (2%) -
Apparel/Textiles 1 (2%) - 2 (2%) -
Building Materials 1 (2%) - 2 (2%) -
Consumer Services 1 (2%) - 2 (2%) -
Electrical Equipment 1 (2%) - 2 (2%) -
Machinery 2 (3%) - 2 (2%) -
Retail 2 (3%) - 2 (2%) -
Technology Hardware 1 (2%) - 2 (2%) -
Leisure - - 1 (1%) 9M (5%)
Construction 1 (2%) - 1 (1%) -
Distribution - - 1 (1%) -
Diversified - - 1 (1%) -
E-Commerce 1 (2%) - 1 (1%) -
Education 1 (2%) - 1 (1%) -
Energy Services and Equipment 1 (2%) - 1 (1%) -
Engineering 1 (2%) - 1 (1%) -
Environmental - - 1 (1%) -
Financial Services 1 (2%) - 1 (1%) -
Furniture 1 (2%) - 1 (1%) -
Marine 1 (2%) - 1 (1%) -
Media - - 1 (1%) -
Packaging 1 (2%) - 1 (1%) -
Restaurants 1 (2%) - 1 (1%) -
Safety/Security - - 1 (1%) -
Transportation 1 (2%) - 1 (1%) -
Total 62 $62M 126 $177M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 61 (98%) 62M (100%) 124 (98%) 177M (100%)
  Pennsylvania 12 (19%) - 31 (25%) 85M (48%)
  New Jersey 7 (11%) 35M (57%) 14 (11%) 35M (20%)
  Massachusetts 7 (11%) 14M (23%) 13 (10%) 24M (14%)
  New York 7 (11%) 13M (20%) 10 (8%) 13M (7%)
  Maryland 5 (8%) - 8 (6%) -
  California 3 (5%) - 6 (5%) 9M (5%)
  Texas 3 (5%) - 6 (5%) -
  Washington 1 (2%) - 4 (3%) -
  Ohio 1 (2%) - 4 (3%) -
  Florida 1 (2%) - 4 (3%) -
  Virginia 3 (5%) - 3 (2%) -
  North Carolina 2 (3%) - 3 (2%) -
  Illinois - - 3 (2%) -
  Minnesota 1 (2%) - 2 (2%) 11M (6%)
  Georgia 1 (2%) - 2 (2%) -
  Alabama 1 (2%) - 2 (2%) -
  Oregon 1 (2%) - 1 (1%) -
  Oklahoma 1 (2%) - 1 (1%) -
  Missouri 1 (2%) - 1 (1%) -
  Louisiana 1 (2%) - 1 (1%) -
  Colorado 1 (2%) - 1 (1%) -
  Arizona 1 (2%) - 1 (1%) -
  Michigan - - 1 (1%) -
  Maine - - 1 (1%) -
  Kentucky - - 1 (1%) -
Canada 1 (2%) - 1 (1%) -
  Ontario 1 (2%) - 1 (1%) -
Netherlands - - 1 (1%) -
Domestic 61 (98%) 62M (100%) 124 (98%) 177M (100%)
Cross-border 1 (2%) - 2 (2%) -
Total 62 $62M 126 $177M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 38 (61%) 13M (20%) 63 (50%) 13M (7%)
Buyout (LBO, MBO, MBI) 7 (11%) 14M (23%) 25 (20%) 48M (27%)
Venture 7 (11%) 35M (57%) 18 (14%) 35M (20%)
Secondary Buyout 4 (6%) - 7 (6%) -
Recapitalization 2 (3%) - 4 (3%) -
Going Private 2 (3%) - 3 (2%) 10M (6%)
Consolidation 1 (2%) - 2 (2%) -
Stake Purchase - - 1 (1%) 71M (40%)
Acquisition Financing 1 (2%) - 1 (1%) -
Divestiture - - 1 (1%) -
PIPE - - 1 (1%) -
Total 62 $62M 126 $177M

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 22 (39%) 2.8B (94%)
Trade Sale 14 (25%) 184M (6%)
Secondary Sale 14 (25%) -
Sold to Management 2 (4%) -
Merger 1 (2%) -
Recapitalization 1 (2%) -
Stake Sale 1 (2%) -
Unknown 1 (2%) -
Total 56 $3.0B

Top M&A Advisors

Financial Deals
Greene Holcomb & Fisher LLC
1
Legal Deals
Blank Rome LLP
2
Clifford Chance LLP
1

Deal Values

buy # Total
< $100M 8 $177M
TOTAL $177M
Largest Internet Pipeline, Inc.
$71M (2012-02-01)
sell # Total
> $1B 1 $1.2B
$100M to $1B 10 $2.2B
< $100M 2 $62M
TOTAL $3.4B
Largest Paragon Bioservices, Inc.
$1.2B (2019-04-15)

M&A Connections

Deals %
Acquired from
PE Firm(s)
100%
13 100%
Exited to
PE Firm(s)
37%
19 37%
Strategic(s)
63%
33 63%

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