Wellspring Capital Management, established in 1995, is a New York-based middle-market private equity firm with approximately $2 billion under management. The firm specializes in buyouts and acquisitions of private companies, divisions, and subsidiaries, focusing on value creation through strategic initiatives, operational improvements, and add-on acquisitions. Wellspring functions as a strategic partner, providing management teams with top-line support, M&A experience, and financial expertise. Its funds, including Wellspring Capital Partners V (2011 vintage), target manufacturing and industrials sectors in the United States.
Managing Partner, Co-President and Member of the Investment Committee
Ryan Dowd
Partner
Greg S. Feldman
Founder and Executive Chairman
Jason Fortin
Partner
Matthew Harrison
Managing Partner and Investment Committee Member
Paul Kaminski
CFO
Janshaaz F. Khan
Vice President
Thomas S. Kingshott
Associate
Naishadh Lalwani
Partner and Member of the Investment Committee
John Morningstar
Managing Partner, Co-President and Member of Investment Committee
Liam O'Sullivan
CFO
William Russell
Associate
Paige C. Wood
Associate
William H. W. Paolella
Vice President
Past deals in Eastern US
Pentec Health
Acquisition in 2021
Pentec Health, Inc. is a provider of specialty infusion services in the United States, focusing on delivering personalized medical treatments to patients outside of hospital settings. Founded in 1983 and based in Glen Mills, Pennsylvania, with additional offices in Boothwyn and Mansfield, the company specializes in compounded sterile medications and in-home therapies. Pentec Health offers intradialytic parenteral nutrition (IDPN) and intraperitoneal nutrition (IPN) for malnourished dialysis patients, as well as customized infusion services for individuals with implanted intrathecal pumps to manage severe spasticity and chronic pain. The company also provides a range of services including drug therapy preparation, skilled nursing support, reimbursement assistance, and care coordination for patients with acute and chronic conditions. Through its focus on individualized care, Pentec Health ensures that treatment plans are tailored to meet the specific needs of each patient.
Cadence Petroleum Group
Acquisition in 2020
Cadence Petroleum Group is a distributor of petroleum products based in Asheboro, North Carolina, serving the eastern and central United States. Established in 1947, the company specializes in the distribution of a wide range of products, including oil and lubricants for automotive, commercial, and industrial applications. Its offerings include ultra-low sulfur diesel, high sulfur dyed diesel, kerosene, gasoline, antifreeze, diesel exhaust fluids, and fuel additives. In addition to these core products, Cadence Petroleum Group provides tank monitoring, oil analysis, and consulting services to enhance its customers' operations. This diverse product portfolio and service offering position the company as a significant player in the petroleum distribution sector.
API Heat Transfer
Acquisition in 2012
API Heat Transfer Inc. specializes in the engineering, design, development, and manufacture of heat exchangers and pressure vessels, catering to various industrial sectors. The company offers a diverse range of products, including air-cooled, plate, pre-engineered, shell and tube heat exchangers, as well as thermal systems, serving markets such as compressor and engine cooling, fluid power, food and beverage, oil and gas, power generation, and more. Operating from four modern manufacturing facilities in the United States, Germany, and China, API Heat Transfer ensures local sales and reliable after-sales service through a comprehensive global network. Founded in 1947 and headquartered in Buffalo, New York, the company was previously known as ThermaSys Corporation and is a former subsidiary of ThermaSys Group Holding Company.
Resco Products
Acquisition in 2011
Resco Products, Inc. is a manufacturer of refractory products that serve various industries, including metal, hydrocarbon processing, cement, and lime production. Established in 1946 and headquartered in Pittsburgh, Pennsylvania, the company produces a wide range of products such as bricks, clay-alumina castables, gun mixes, magnesia-based specialties, and precast shapes. These offerings are designed to help clients minimize downtime and enhance yield volume. In addition to its manufacturing capabilities, Resco Products also provides services in private labeling and refractory engineering, as well as research and development. The company operates multiple plants across the United States and in the United Kingdom, further extending its reach in the refractory market.
Crosman Corporation
Acquisition in 2011
Crosman Corporation is a designer and manufacturer of airguns and related products, primarily catering to hunting, recreational use, and competitive shooting. Founded in 1923 and based in Bloomfield, New York, the company offers a diverse product range that includes air rifles, pistols, airsoft guns, ammunition, and accessories. Additionally, Crosman provides optics such as scopes and binoculars, as well as archery equipment including bows and arrows. The company also supports the shooting sports community by supplying products to non-profit organizations and distributing its offerings through sporting goods stores, retailers, and online channels both in the United States and internationally. Formerly known as Crosman Arms Company, Crosman Corporation continues to focus on accessibility and quality in its product lines.
ChemAid Laboratories
Acquisition in 2007
ChemAid Laboratories, Inc. is a contract manufacturer based in Saddle Brook, New Jersey, specializing in the beauty industry. Founded in 1971, the company offers a diverse range of formulation, manufacturing, and packaging services for health and beauty care products. Its product portfolio includes various fragrance items such as body creams, lotions, shower gels, and aftershave products. Additionally, ChemAid produces hair care products including shampoos, conditioners, and styling aids, as well as skin care treatments such as facial creams, serums, and masks. The company focuses on delivering high-quality formulated products while maintaining a commitment to superior customer service, positioning itself as a reliable partner for specialty and prestige beauty brands.
International Mill Service
Acquisition in 2004
International Mill Service, founded in 1936 and located in Horsham, Pennsylvania, specializes in slag processing, metal recovery, materials handling, scrap management, and surface conditioning services. The company has established itself as a key player in the industry, providing essential services to enhance the efficiency and sustainability of metal production processes. In November 2004, International Mill Service was acquired by Wellspring Capital Management, which underscores its significant role within the sector.
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