NewSpring

NewSpring Capital, founded in 1999 and based in Radnor, Pennsylvania, is a private equity firm that focuses on equity and debt investments across the United States. The firm manages over $2 billion and employs multiple investment strategies, including growth equity, control buyouts, and mezzanine debt. NewSpring invests in innovative franchise and multi-unit concepts, primarily targeting dynamic industries such as technology, communication, and business services. With a history of investing in over 150 companies, NewSpring partners with management teams to foster growth and develop businesses into market leaders. The firm emphasizes building relationships within its extensive network of industry leaders to identify and capitalize on compelling investment opportunities.

Kamal Advani

Operating Partner

James Ashton

General Partner

Caio Azevedo

Associate

Gregory Barger

General Partner

Hart Callahan

Partner

Jacques Clariond

Analyst

Kirk Clark

Vice President

Andrew DeBacco

Senior Associate

Joe Deluca

Operating Partner

Michael DiPiano

Managing Director

Matt DiTosto

Associate

Bruce Downey

Partner

Jason Dresner

Senior Associate

Lee Garber

Partner

Matt Giangiordano

Senior Associate

Joseph A. Hawke

Partner

Jonathan Hsu

Investor

Mike Kaplan

Partner

Brian Kelly

Senior Associate

Brian Kim

Growth Equity Investor and Partner

Kristin Lee

Partner, Mezzanine Strategy

Matthew Malinowski

Senior Associate

Skip Maner

General Partner

Nathan Myers

Principal

Justin Nadile

Principal

Andrew Panzo

General Partner

Matthew Plevelich

Principal

Satya Ponnuru

General Partner

Kapila Ratnam

Partner

Glenn Rieger

General Partner

Brian Ruwe

Vice President

Daniel Salvato

Principal

Tarun Sangari

Senior Associate

Bharat Santhanam

Principal

Drew Scannell

Principal

Jonathan Schwartz

President and COO

David Siegel

Associate

Patrick Sugrue

General Partner

Matt Szymanski

Senior Associate

Robert Valvano

Principal

Bob Valvano

Principal

Anne Vazquez

General Partner

Amy Wang

Vice President

Sean Whitehead

Senior Associate

Joseph Willamson

Partner

Past deals in Pennsylvania

Federal Donuts

Private Equity Round in 2022
Federal Donuts is a culinary pioneer in the fast-casual space with Donuts, Fried Chicken, and Coffee.

Duck Donuts

Acquisition in 2021
Duck Donuts Franchising Company is a food and beverage chain making donuts on order.

Veritas Medical Solutions

Private Equity Round in 2020
Veritas Medical Solutions LLC specializes in the design, manufacture, and installation of pre-engineered radiation-shielded treatment facilities. Founded in 2008 and headquartered in Harleysville, Pennsylvania, the company provides a range of modular radiation shielding systems, including VeriShield, shielded doors, and comprehensive room interior packages tailored for various applications. Its offerings cater to industries such as radiotherapy oncology, medical imaging, and industrial inspection, both in the United States and internationally. Veritas Medical Solutions aims to deliver efficient and high-performing treatment room installations that surpass traditional concrete structures through innovative designs and superior shielding capabilities.

The Turning Point

Private Equity Round in 2019
The Turning Point Holding Company, LLC operates a chain of restaurants specializing in breakfast, brunch, and lunch. Founded in 1998 and headquartered in Eatontown, New Jersey, the company has multiple locations across New Jersey and Pennsylvania. The Turning Point is known for its commitment to quality, offering a made-from-scratch menu that includes fresh ingredients and locally-inspired seasonal items. Each dish is prepared to order, ensuring customization to meet customer preferences. The restaurants feature a comfortable and inviting atmosphere, with tasteful decor and a focus on cleanliness. The staff is dedicated to providing an exceptional dining experience, emphasizing friendliness and customer satisfaction. In addition to its dining services, The Turning Point also operates an online store for gift card sales.

Vybe

Private Equity Round in 2018
Provider of medical care services intended to deliver care to adults and children around the clock. The company's services include a range of injury and illness treatments, physical exams and occupational health and workers' compensation treatments, vaccinations, laboratory tests, and screenings, enabling patients to receive emergency care without any delay.

Energage

Venture Round in 2017
Energage, LLC operates an employee engagement platform designed to help organizations unlock their employees' potential. Founded in 2006 and headquartered in Exton, Pennsylvania, the company, originally known as WorkPlaceDynamics, changed its name in 2017. Energage provides a suite of tools that includes employee surveying, performance improvement solutions, and coaching. By analyzing survey insights and developing actionable strategies, Energage supports organizations in enhancing workplace culture, which has been shown to be a competitive advantage. Over the past 13 years, the company has studied more than 17 million employee survey responses from over 50,000 organizations to identify the characteristics of successful workplaces. The platform integrates research and expert guidance to promote collaboration, reduce turnover costs, and improve productivity, ultimately helping businesses achieve better results and increased ROI.

Lynn Electronics

Private Equity Round in 2017
Lynn Electronics Corporation manufactures data and telecommunications products for the OEM and communication/data market place. The company offers copper patch cords and hardware; fiber optic patch cords and hardware; media converters, SFP modules, XFP modules, and switches; audio/video cables and hardware; power cords; telephone cords and accessories; coax cable assemblies; custom cable assemblies; and USB, PC, and miscellaneous computer cables. Its services include custom bundling, custom labeling, prototyping, OEM manufacturing, kitting, box and chassis builds, and turnkey manufacturing.

Sussex Wire

Venture Round in 2017
Sussex Wire is a cold forming and roll forming company that collaborates with clients’ design engineers to lower cost, increase mechanical durability and reduce carbon footprint for component part tolerances down to +/- 0.0005”. The company specializes in critical custom applications in the medical device, healthcare consumables, aerospace, defense, consumer electronics, semi-conductor and hermetic assembly market segments.

Relay Network

Series B in 2016
Relay Network, LLC operates as a technology company that connects brands to their customers on a private messaging application. It sends messages on behalf of businesses; and let the customers opt in to receive messages on behalf of their service providers. The company serves healthcare, financial services, insurance, cable, energy, travel, and hospitality industries. Relay Network, LLC was incorporated in 2009 and is based in Radnor, Pennsylvania.

JourneyDXP

Series A in 2015
Journey Sales provides customer engagement solutions specifically designed for sales professionals. Its primary offering, the Smart Room platform, facilitates collaboration among sales and account management teams and their customers throughout the buyer's journey. This platform allows users to access personalized content, gain insights, and track buyer activity effectively. It enhances the ability of sales professionals to close deals and manage their pipelines while enabling marketing teams to promote branding and analyze content effectiveness. Smart Rooms support consistent messaging across teams, improve customer onboarding and retention, and ensure alignment between sales and marketing efforts. The platform is widely used across various sectors, including financial services, insurance, and B2B sales, addressing needs such as client acquisition, account management, and partner education. Founded in 2014, Journey Sales is headquartered in Conshohocken, Pennsylvania.

USPack

Private Equity Round in 2015
Founded in 1986 by Peter Glazman, USPack Logistics has grown steadily into the premier name in New York courier services. Since our inception they’ve held true to the simple ideal that they were founded upon: keep it personal. Over the past two decades they’ve never wavered in our dedication to personalized service standards. Still at the helm today, Mr. Glazman has pursued a strategy of measured growth through calculated acquisitions and careful investment decisions. Today they provide a wide array of same day and daily routed delivery services to New York, New Jersey, Connecticut, Washington D.C., Maryland, Virginia, Pennsylvania and beyond. Our couriers specialize in getting packages through the hustle of busy streets quickly, safely, and affordably.

Archer

Private Equity Round in 2015
Archer know the challenges of investment managers because they experienced them firsthand. Like many people in the industry, their team was frustrated with systems and tools that fell short when it came to automation and required a specialized workforce with constant work arounds. They needed a better solution. So they created it ourselves. The Archer platform would be the industry’s first and total web-based solution. With an instantly familiar interface, unrivaled processing capabilities, and powerful service flexibility, it was unlike anything that came before. Today, they’ve paired their platform with a selective outsourcing offering that completely frees investment managers to grow their businesses, regardless of channel or scale. What was once their vision for the industry is now a reality.

S. Walter Packaging

Private Equity Round in 2014
S. Walter Packaging Corp., founded in 1904 by Simon Walter, is a Philadelphia-based company with over a century of experience in the retail packaging industry. Initially focused on simple kraft paper bags, the company has evolved to meet the diverse needs of modern branding, offering a wide range of packaging solutions. S. Walter Packaging provides more than 4,000 varieties of shopping bags, gift boxes, gift wrap, and other packaging accessories, making it one of the largest national inventories of in-stock packaging products. This extensive catalog allows for quick and easy shipping from their North American warehouses, catering to both national multi-unit retailers and independent stores. The company is committed to delivering creative packaging and innovative branding ideas at competitive prices, ensuring timely distribution to meet the demands of its customers.

RightCare Solutions

Series B in 2014
RightCare Solutions, founded in 2011 and based in Horsham, Pennsylvania, specializes in evidence-based technology aimed at enhancing hospital discharge planning and managing patient readmissions. The company's proprietary Discharge Decision Support System, known as D2S2, empowers healthcare providers—including hospitals, insurers, and homecare agencies—to optimize their discharge processes. By enabling the identification and prediction of high-risk patients at the time of admission, RightCare Solutions helps improve patient outcomes and the overall quality of care. This approach not only supports healthcare providers in reducing the burden of 30-day readmissions but also contributes to a more effective continuum of care.

Relay Network

Series A in 2014
Relay Network, LLC operates as a technology company that connects brands to their customers on a private messaging application. It sends messages on behalf of businesses; and let the customers opt in to receive messages on behalf of their service providers. The company serves healthcare, financial services, insurance, cable, energy, travel, and hospitality industries. Relay Network, LLC was incorporated in 2009 and is based in Radnor, Pennsylvania.

Relay Network

Series A in 2012
Relay Network, LLC operates as a technology company that connects brands to their customers on a private messaging application. It sends messages on behalf of businesses; and let the customers opt in to receive messages on behalf of their service providers. The company serves healthcare, financial services, insurance, cable, energy, travel, and hospitality industries. Relay Network, LLC was incorporated in 2009 and is based in Radnor, Pennsylvania.

Atlantic Diagnostic Laboratories

Debt Financing in 2012
Atlantic Diagnostic Laboratories is a clinical laboratory that offers a comprehensive range of testing services, including microbiology, chemistry, toxicology, immunology, and virology. The laboratory serves clients across multiple states, including Pennsylvania, New Jersey, New York, Delaware, Maryland, Connecticut, Virginia, Florida, Ohio, Kentucky, and West Virginia. With over thirty years of experience, Atlantic Diagnostic Laboratories caters to a diverse clientele, such as physicians' offices, pain management clinics, drug rehabilitation centers, nursing homes, and hospitals. The facility spans 26,000 square feet and is equipped to provide personalized and efficient laboratory services. The company is particularly known for its high-end toxicology tests, which are essential for evaluating drug overdoses, both accidental and intentional, making it a valuable partner in the healthcare industry.

Cellucap

Debt Financing in 2011
Cellucap manufactures and distributes disposable protective apparel and related products for food service, healthcare, and safety.

Quintiq

Private Equity Round in 2011
Quintiq specializes in delivering advanced planning, scheduling, and supply chain optimization software solutions tailored for specific industries. As a market leader, the company focuses on enhancing key performance indicators for its clients through innovative applications. Quintiq's software offerings encompass production, logistics, and workforce planning, catering to a diverse clientele that includes prominent companies such as ASML, Lafarge, and ArcelorMittal. By providing these targeted solutions, Quintiq aims to significantly improve operational efficiency and effectiveness for businesses across various sectors.

CODi

Debt Financing in 2011
CODi, Inc. manufactures and supplies laptop bags, backpacks, and cases, as well as tablet cases, locks, custom solutions, and mobile security accessories for mobile business professionals and Fortune 100 professionals. It offers airport checkpoint friendly bags, wheelers, and iPad cases. The company sells its products through resellers and a network of distributors in the United States; and online. CODi, Inc. was founded in 1992 and is based in Harrisburg, Pennsylvania.

Relay Network

Series A in 2011
Relay Network, LLC operates as a technology company that connects brands to their customers on a private messaging application. It sends messages on behalf of businesses; and let the customers opt in to receive messages on behalf of their service providers. The company serves healthcare, financial services, insurance, cable, energy, travel, and hospitality industries. Relay Network, LLC was incorporated in 2009 and is based in Radnor, Pennsylvania.

Core Essence Orthopaedics

Series B in 2011
Core Essence Orthopaedics is staffed with experienced surgical device developers and executives who share a vision and have a track record of understanding and penetrating the market, providing significant resources to support education in the O.R. and achieving wide acceptance of new and superior technologies and devices. Their company is committed to enabling surgeons to perform minimally invasive and arthroscopic procedures and empowering those surgeons to meet the growing needs of their active patients—restoring function and quality of life through minimally invasive and arthroscopic surgical techniques. They focus on medical devices for soft tissue and skeletal repair of the extremities.

MinSec

Private Equity Round in 2010
MinSec is a private company based in Wallingford, Pennsylvania, that specializes in the treatment of chemical dependency and mental health disorders. Founded in 1995, MinSec operates community correctional facilities, outpatient programs, and behavioral health treatment centers. The company focuses on providing comprehensive services aimed at rehabilitation and support for individuals facing addiction and mental health challenges.

Precyse

Series A in 2010
Precyse Solutions, LLC is a health information management (HIM) company based in Wayne, Pennsylvania, specializing in medical records management and performance solutions for healthcare facilities across the United States. Founded in 1999, Precyse offers a comprehensive suite of services that includes medical coding, clinical documentation improvement, cancer registry management, and medical transcription. Their integrated platform features tools for inpatient and outpatient coding, as well as an online education system that provides training and resources on ICD-10 compliance. Additionally, Precyse offers consulting services focused on case management and utilization review, aiming to enhance the overall quality of healthcare delivery and efficiency for its clients. Through its innovative solutions, Precyse seeks to advance health information practices and outcomes in the healthcare sector.

iPipeline

Venture Round in 2009
iPipeline is a provider of web-based software solutions designed to enhance sales distribution for the insurance and financial services sectors. The company is dedicated to driving straight-through processing, which streamlines operations and improves efficiency for its clients. iPipeline focuses on building strong partnerships with its customers and collaborators, emphasizing open communication and innovation. By offering a comprehensive suite of tools, the company supports the unique needs of the insurance and financial industries on a global scale.

IDC Westinghouse

Private Equity Round in 2009
IDC Westinghouse operates in the energy sector, primarily focusing on nuclear technology and solar lighting solutions. The company is recognized for supplying safe and innovative nuclear technology, delivering reliable nuclear power plants, nuclear fuel, and various plant automation services to utility customers globally. Emphasizing a commitment to safety and sustainability, IDC Westinghouse leverages its extensive history and experience to enhance the efficiency and dependability of nuclear energy. Additionally, the company offers a diverse range of solar landscape lighting products that are noted for their durability and professional quality, catering to both residential and commercial markets.

Thermacore

Debt Financing in 2008
Thermacore, Inc. is involved in the design, development, and manufacturing of thermal management systems and components tailored for original equipment manufacturer (OEM) applications across diverse global markets. Founded in 1970 and headquartered in Lancaster, Pennsylvania, the company offers a range of products, including heat spreaders, thermal straps, heat shields, and various cooling solutions such as air-cooled heat sinks and heat pipe assemblies. Its products are utilized in numerous sectors, including military, aerospace, communications, renewable energy, medical, and automotive, among others. Thermacore also provides engineering services encompassing design and prototyping, as well as materials technologies that include metal processing and fabrication. The company operates facilities in multiple locations, including Pennsylvania, New York, and the United Kingdom, and functions as a subsidiary of Aavid Thermalloy, LLC.

Core Essence Orthopaedics

Series A in 2008
Core Essence Orthopaedics is staffed with experienced surgical device developers and executives who share a vision and have a track record of understanding and penetrating the market, providing significant resources to support education in the O.R. and achieving wide acceptance of new and superior technologies and devices. Their company is committed to enabling surgeons to perform minimally invasive and arthroscopic procedures and empowering those surgeons to meet the growing needs of their active patients—restoring function and quality of life through minimally invasive and arthroscopic surgical techniques. They focus on medical devices for soft tissue and skeletal repair of the extremities.

iPipeline

Series A in 2008
iPipeline is a provider of web-based software solutions designed to enhance sales distribution for the insurance and financial services sectors. The company is dedicated to driving straight-through processing, which streamlines operations and improves efficiency for its clients. iPipeline focuses on building strong partnerships with its customers and collaborators, emphasizing open communication and innovation. By offering a comprehensive suite of tools, the company supports the unique needs of the insurance and financial industries on a global scale.

Precyse

Private Equity Round in 2008
Precyse Solutions, LLC is a health information management (HIM) company based in Wayne, Pennsylvania, specializing in medical records management and performance solutions for healthcare facilities across the United States. Founded in 1999, Precyse offers a comprehensive suite of services that includes medical coding, clinical documentation improvement, cancer registry management, and medical transcription. Their integrated platform features tools for inpatient and outpatient coding, as well as an online education system that provides training and resources on ICD-10 compliance. Additionally, Precyse offers consulting services focused on case management and utilization review, aiming to enhance the overall quality of healthcare delivery and efficiency for its clients. Through its innovative solutions, Precyse seeks to advance health information practices and outcomes in the healthcare sector.

LiquidHub

Series A in 2007
LiquidHub, Inc. specializes in digital customer engagement solutions, offering a range of services designed to enhance marketing, sales, and customer interactions. Its key offerings include LiquidMarketing, which supports marketing campaigns through demand generation and brand development; LiquidSales, a suite of CRM solutions that encompasses sales strategy and automation; LiquidCommerce, which optimizes e-commerce operations; and LiquidService, aimed at delivering consistent customer service experiences. Additionally, LiquidHub provides analytics, architecture, content development, and technology integration services. The company serves various sectors, including healthcare, life sciences, financial services, and retail, both in the United States and internationally. Founded in 2000 and headquartered in Wayne, Pennsylvania, LiquidHub operates multiple offices across several countries, including India, China, and the United Kingdom. As of 2018, it functions as a subsidiary of Capgemini SE.
RedPath Integrated Pathology, LLC operates as a reference laboratory and provides support services for oncology cases. It offers PathFinderTG, a testing platform for resolving diagnoses from the original pathology specimen. The company serves pathologists, clinicians, and patients. RedPath Integrated Pathology, LLC was founded in 2004 and is headquartered in Pittsburgh, Pennsylvania.

Nitric Bio

Series A in 2006
NitricBio is a mid-stage specialty pharmaceutical company focused on the dermatology and podiatry markets, with two unique drug delivery technologies. The first technology involves the development and commercialization of topical nitric oxide gas. Nitric oxide has both direct and regulatory actions with known anti-infective and anti-inflammatory properties. The company's current focus is on the development of a treatment for moderate-to-severe tinea pedis (athlete's foot), which is currently in late Phase 2 clinical trials.

FlagZone

Private Equity Round in 2005
FlagZone is a manufacturer specializing in a wide range of flags and flag-related products. The company produces American flags, state flags, foreign flags, military flags, and custom flags, catering to various customer needs. In addition to flags, FlagZone also offers flagpoles and banners, ensuring a comprehensive selection for clients. With a focus on serving the United States market, FlagZone provides quality products at competitive prices.

Immune Control

Series A in 2005
Immune Control, Inc. was formed in 2001 based on technology developed in the laboratories of Professors Bradford Jameson and Ana Tretiakova, Department of Biochemistry, Drexel University College of Medicine. Initial funding came from Argil Management, LLC, of Boston. In 2003, Stephen Roth, Ph.D., became president and CEO of Immune Control. The Company plans to complete an investigational new drug (IND) application to be submitted to the Food and Drug Agency in 2005. The IND application will propose the use of an already marketed serotonin antagonist in multiple myeloma patients in a small, and relatively short, phase 1/2 clinical trial. If the drug has significant, clinical efficacy against the malignant B cells characteristic of multiple myeloma, they would immediately begin plans for a larger, phase 3 trial. Positive results in the first trial would constitute clinical proof-of-concept for the Company's basic premise-that serotonin antagonists have clinical utility against inappropriately activated immune cells. Another Company goal focuses on proprietary serotonin antagonists that are more potent than those already approved, and that do not cross the blood-brain barrier, making them free of adverse neurological side-effects. Such new chemical entities would be screened for their abilities to bind to specific immunological serotonin receptors, which are now being characterized. The Company has made progress with at least two receptors, one of which has apparently not previously been described. Research on the molecular biology of the receptors is underway at Drexel University College of Medicine, and new chemical entities to be screened for serotonin antagonist activity are being synthesized for the Company. Ultimately, they hope to find compounds that can be used against many hematologic cancers, transplant rejection, and against a host of diseases that are all caused by inappropriate lymphocyte activation. Examples of such diseases are type I diabetes, rheumatoid arthritis, lupus, asthma, and many of the muscular dystrophies. The market size for drugs that treat each of these conditions exceeds a billion dollars. Simultaneously, the Company aggressively protects its intellectual property with patent applications. Novel use applications, novel compound applications, and novel receptor applications are all examples of the Company's existing IP portfolio, which has been licensed exclusively and worldwide to the Company by Drexel University.

SolomonEdwards

Venture Round in 2005
SolomonEdwards is a national professional services firm that specializes in strategy execution and business consulting. Headquartered near Philadelphia, the firm operates across major U.S. cities and serves a diverse range of industries, including banking, energy, healthcare, technology, manufacturing, and education. SolomonEdwards focuses on addressing critical business challenges through tailored solutions in areas such as business transformation, accounting and finance, governance, regulatory compliance, and mergers and acquisitions. The firm distinguishes itself by its ability to recruit, deploy, and manage specialized teams of experts dedicated to delivering results for both domestic and multinational clients. With a commitment to adaptability in an ever-evolving business landscape, SolomonEdwards leverages its extensive experience and deep subject matter expertise to create success for its clients.
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