New Harbor Capital

New Harbor Capital Management, LLC is a private equity firm based in Chicago, Illinois, founded in 2013. The firm specializes in growth financing, management buyouts, and recapitalizations, targeting lower middle market investments primarily in the business services, healthcare, and education sectors. New Harbor Capital focuses on founder-owned companies, particularly in areas such as business process outsourcing, marketing services, and technology-enabled services within business services; outsourced services for acute and outpatient providers and niche specialty distribution in healthcare; and a range of education services, including post-secondary student recruiting, tutoring, and corporate training. The firm typically invests between $10 million and $40 million in companies with EBITDA ranging from $3 million to $15 million, often seeking majority stakes while also being open to select minority investments and customized structures.

Roshan Babu

Associate

Thomas Formolo

Founder

Jonathan Gavron

Vice President

Alex Janvrin

Associate

Jack Kenter

Associate

Edward Lhee

Co-Founder and Partner

Justin Marquardt

Partner

Bo Mlnarik

Principal

Andrew Nicholson

Principal

Drew Nicholson

Principal

John Pircon

Partner

Ryan Seymour

Senior Associate

Jocelyn Stanley

Partner

11 past transactions

Monroe Biomedical Research

Acquisition in 2023
Monroe Biomedical Research involves in biotechnology and research services.

Escalon Services

Private Equity Round in 2022
Escalon Services, founded in 2006 and headquartered in Palo Alto, California, is an accounting and advisory firm dedicated to supporting entrepreneurs by managing their operational and tactical needs. The firm offers a range of services, including outsourced chief financial officer, accounting, payroll, management reporting, financial analysis, and budgeting. Escalon's proactive and customized approach allows it to serve startups and growing companies across various sectors, including life sciences, nonprofits, consumer goods, and cryptocurrency. With a commitment to helping businesses focus on growth, Escalon has established itself as a trusted partner for clients in over 16 countries.

IndeVets

Private Equity Round in 2021
IndeVets is a veterinary staffing service that connects veterinarians with animal hospitals to enhance veterinary medicine and animal health care. The company provides hospitals with supplemental staffing solutions, allowing them to meet their workforce needs effectively. Veterinarians benefit from the flexibility to choose their own hours and work locations, facilitated by proprietary scheduling software. This approach not only helps hospitals improve their operational efficiency but also increases profitability and revenue by ensuring adequate staffing levels.

Advent Home Medical

Acquisition in 2021
Advent Home Medical is a provider of at-home respiratory care services, catering to patients with acute and chronic respiratory conditions requiring mechanical ventilation. The company focuses on delivering high-quality, personalized care through registered respiratory therapists who develop tailored care plans for each patient. Advent offers a range of specialized programs, including home ventilator management, ventilator weaning, tracheostomy care, and training for caregivers and patients. In addition to these services, Advent supplies durable medical equipment necessary to support respiratory therapies. With over 3,500 home visits conducted annually across Michigan, Advent Home Medical is recognized as a leader in its field, committed to enhancing the quality of life for individuals in need of respiratory support.

Spiro.AI

Seed Round in 2018
Spiro Technologies, Inc. is a Boston-based company that develops a relationship management platform designed to assist sales teams across various industries, including construction, finance, manufacturing, professional services, and technology. Founded in 2014, Spiro's platform operates in the background to automate data collection from emails, calls, and texts, eliminating the need for manual data entry. It creates and organizes contacts, prioritizes sales opportunities, and generates intelligent reports to enhance sales performance. Additionally, the platform offers features such as sales suggestions and tools for tracking and managing customer interactions, ultimately enabling businesses to optimize engagement and prevent lost opportunities.

Next Step Test Prep

Private Equity Round in 2018
Next Step Test Preparation delivers one-on-one tutoring packages for major graduate entrance exams. Its packages are built around a customized curriculum that targets each individual's study needs related to GMAT, LSAT, GRE, and MCAT exams.

Blueprint Test Preparation

Private Equity Round in 2018
Blueprint Test Preparation, LLC is a leading provider of Law School Admission Test (LSAT) preparation services, established in 2005 and based in Los Angeles, California. The company offers a comprehensive range of services, including in-person and online courses, private tutoring, self-study materials, and application consulting, catering to aspiring law students. Blueprint operates live classroom instruction in over 25 locations across eight states, utilizing innovative content and adaptive learning technology to create personalized study experiences. In addition to LSAT preparation, the company also provides resources for the Medical College Admission Test (MCAT), serving a broader audience of future legal and medical professionals. Through its focus on individualized support and effective learning strategies, Blueprint aims to help students achieve their academic goals and secure admission to their preferred institutions.

LGM Pharma

Private Equity Round in 2017
LGM Pharma is an innovation-driven company that specializes in the distribution of active pharmaceutical ingredients (APIs) to pharmaceutical and biotech markets. The company focuses on streamlining the supply chain for APIs throughout all stages of development, offering integrated sourcing options and comprehensive technical capabilities. LGM Pharma also provides expert regulatory documentation support, ensuring that its clients—comprising leading pharmaceutical companies, compounders, drug developers, and generic manufacturers—receive high-quality cGMP compliant products.

Spiro.AI

Seed Round in 2017
Spiro Technologies, Inc. is a Boston-based company that develops a relationship management platform designed to assist sales teams across various industries, including construction, finance, manufacturing, professional services, and technology. Founded in 2014, Spiro's platform operates in the background to automate data collection from emails, calls, and texts, eliminating the need for manual data entry. It creates and organizes contacts, prioritizes sales opportunities, and generates intelligent reports to enhance sales performance. Additionally, the platform offers features such as sales suggestions and tools for tracking and managing customer interactions, ultimately enabling businesses to optimize engagement and prevent lost opportunities.

Wedgewood

Acquisition in 2016
Wedgewood is the nation’s largest and most trusted provider of compounded veterinary medications. Its recent merger with Blue Rabbit enables the company to provide veterinarians with a next-generation home delivery platform to streamline patient care and marks a significant evolution in services. Together Blue Rabbit and Wedgewood serve more than 70,000 veterinary professionals and more than one million animals annually.
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