Fund will target lower-middle market companies in need of
flexible financing
RADNOR,
Pa., July 23, 2024 /PRNewswire/ -- NewSpring
(the "Firm"), a family of private equity strategies, today
announced the final close of NewSpring Mezzanine Capital V ("NSM V"
or the "Fund"), out of the Firm's dedicated private credit
strategy, NewSpring Mezzanine. In total, the Fund was
oversubscribed with total commitments of $390 million. NSM V received strong support from
existing and new investors, including a diverse group of banks,
insurers, public plans, financial institutions, and
individuals.
Operating as a U.S. Small Business Administration SBIC (Small
Business Investment Company) NSM V builds on the Firm's long
history within the SBIC program, which allows the Fund to leverage
additional funding to support lower-middle market businesses. To
date, NSM V has deployed approximately $273
million into 19 companies in the business and consumer
services, niche manufacturing, distribution, and healthcare
markets. This rapid deployment in just under 18 months is
attributed to the team's deep industry knowledge, extensive
networks, and consistent focus within the lower-middle market,
which enables them to identify and act on high-potential
opportunities efficiently.
"At NewSpring Mezzanine, we leverage our expertise to help
business owners and CEOs optimize their capital structure, pursue
strategic acquisitions, and make operational movements that are in
line with their vision for the company," said Anne Vazquez, NewSpring General Partner. "As
demand for mezzanine debt and other flexible capital solutions
continues to rise among lower-middle-market businesses, we look
forward to partnering with more great companies while putting this
Fund to work on behalf of our investors."
NewSpring Mezzanine partners with business owners, either
independently or with other financial sponsors, to provide a wide
range of flexible mezzanine debt and equity solutions as well as
access to its deep operational resources. The team, composed of
investors and former operators with a relentless focus on value
creation, includes two dedicated operating professionals with deep
experience executing key growth initiatives at expanding
businesses. With this, NewSpring Mezzanine portfolio companies
receive tailored strategic guidance and operational support to help
them navigate complex operating challenges and optimize
opportunities that typically arise in lower-middle-market
businesses to achieve their full potential.
"Our goal at NewSpring Mezzanine is to build great companies
through strong partnerships. We pride ourselves on building close
relationships with financial sponsors, intermediaries, and
portfolio company management teams to form strategic alliances that
produce lasting value for all stakeholders," said Greg Barger, NewSpring General Partner. "We're
thrilled with the support of our investors as the number of
attractive opportunities in the lower-middle market continues to
rise and look forward to continuing to expand our portfolio."
About NewSpring
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 approximately $3.5 billion across five distinct strategies
covering the spectrum from growth equity and control buyouts to
mezzanine debt. Having completed over 250 investments, NewSpring
brings a wealth of knowledge, experience, and resources to take
growing companies to the next level and beyond. 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.
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SOURCE NewSpring