Profile

NewSpring is a lower-middle market focused private equity firm that 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 over $3.0 billion across five distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt.  Having invested in over 200 companies, 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.

www.newspringcapital.com

Awards

2023 Top Private Equity Firms

2022 Top 25 Private Equity Firms

2021 Top 25 Growth Equity Firms

2020 Top 25 Growth Equity Firms

2018 Top 40 Under 40 Growth Investors, Brian Kim, Lee Garber

2016 Top 40 Under 40 Growth Investors, Anne Vazquez

2015 Top 25 Growth Equity Firms

2015 Top 40 Under 40 Growth Investors, Eric Jensen

Key People

Mike DiPiano Managing General Partner & Co-Founder

Michael DiPiano is Managing General Partner and co-founder of NewSpring. He is a General Partner of the Firm’s dedicated growth equity funds and serves as a member of the investment committee of all NewSpring funds. Before co-founding NewSpring, Mike was a serial entrepreneur and investor. Mike has led or co-led investment into companies in the business services, healthcare, and information technology industries. Previously, Mike was affiliated with Safeguard Scientifics Inc. from 1996 to 1998 (NYSE:SFG) and was a division CEO and Director of Chemical Leaman Corporation from 1990 to 1996.

Marc Lederman General Partner & Co-Founder

Marc Lederman is a co-founder of NewSpring and a General Partner of the firm’s dedicated growth equity funds. He serves as a member of the investment committee of all NewSpring Growth and NewSpring Mezzanine funds. Marc has an extensive background in finance, investing, consulting, and accounting and was a Certified Public Accountant. Prior to co-founding NewSpring, he was a Manager in the Business Assurance and Advisory Services Group of Deloitte. 

Jon Schwartz President & Chief Operating Officer

Jon Schwartz is President and Chief Operating Officer of NewSpring. He oversees all operational aspects of the firm and its strategies including finance, administration, compliance, legal, infrastructure, human resources, branding, operations, strategy, and new initiatives. Jon also serves as Chief Compliance Officer for the firm. He is a CPA (inactive) with more than 25 years of experience working in private equity and with other asset management organizations. Prior to joining NewSpring in 2004, he was Director of Finance and Administration at EnerTech Capital, an energy technology venture capital firm.

Funds Raised

There is massive opportunity for growth in the lower middle market, and those opportunities are complex and diverse. NewSpring has been investing exclusively in this nuanced space for 20+ years, and its expertise extends across a range of transaction types and evolving industries. NewSpring’s capital solutions are focused into five distinct strategies to support the companies it believes in

NewSpring Healthcare: Thesis-driven strategy focused on partnering with healthcare companies addressing key issues that positively impact health outcomes across the care continuum.

NewSpring Growth: Actively supports founders and entrepreneurs, delivering working capital to scale fast-growing technology companies.
NewSpring Healthcare: Thesis-driven strategy focused on partnering with healthcare companies addressing key issues that positively impact health outcomes across the care continuum.

NewSpring Mezzanine: Private credit strategy that provides flexible capital to business owners—either independently or with financial sponsors—to build growth, acquisitions, and recapitalizations through senior subordinated debt and equity structures.

NewSpring Holdings: Focused on long-term platform builds leverages proven operational methodologies to accelerate the growth of family-run and owner-operated companies, creating institutionalized platforms of scale.

NewSpring Franchise: Investing in innovative franchise and multi-unit concepts with compelling brand and customer value propositions within large and growing markets.

Key Investments

Avantus, 2018
Sector: Government Services

Avantus is a mission-focused services and solutions company serving various departments within the U.S. Government.

Verisma, 2015
Sector: Healthcare

Verisma is a health information technology provider delivering Released Information (ROI) solutions to organizations across the country.

NuOrder, 2018
Sector: Tech

NuOrder is a leading cloud and mobile B2B eCommerce solution empowering brands and retailers with the technology to streamline their business operations.

Blo Blow Dry Bar, 2021
Sector: Consumer Products/Services

Blo is North America’s original blow dry bar and the world’s largest blow dry bar franchise.

Josephs, 2019
Sector: Manufacturing / Distribution

Joseph’s is a leading manufacturer and marketer of premium frozen stuffed pasta for the foodservice, retail, and industrial channels.

Capital Responsibility

NewSpring is committed to evaluating “material” ESG factors, which are defined as: those ESG issues that the firm determines have (or have the potential to have) a materially direct, or substantial, impact on a portfolio company’s ability to create or preserve economic value, as well as environmental and social value for the portfolio company itself and its stakeholders.

NewSpring seeks to integrate the consideration and thoughtful management of ESG issues throughout the investment cycle of each portfolio company. ESG Integration is one strategy used by investment managers to incorporate ESG into the investment process and is generally defined as: “the explicit and systematic inclusion of ESG issues in investment analysis and investment decisions”. NewSpring has developed two ESG Practices specific to the investment lifecycle:

Due Diligence

• Review of Risks: Evaluation of material ESG risks and the management team’s current practice(s) to manage such risks
• Review of Opportunity: Determination of ESG opportunities to address such risks, including the materiality and practicability of such opportunities

Investment Management:

• ESG Review: Investment professionals will review ESG issues, risks and opportunity areas periodically

CEO Reviews

Lynn Electronics CEO Mike Boulanger, NewSpring Mezzanine exit

“With NewSpring’s support, we were able to expand our service offerings and grow into new geographies in ways that powered our fast growth. We’re extremely grateful to the entire NewSpring team for helping us reach our potential up to this point and look forward to our new partnership with NSI as we continue taking our business to new heights.”

Symphonic CEO Jorge Brea, NewSpring Growth investment

“Partnering with NewSpring has been transformative for Symphonic. They have been great partners to work with, very collaborative and willing to provide insight that can help us grow and scale the business. I am very glad to have them on as a partner and appreciate their attention to detail, willingness to let us work with their network, and further, their trust. We are excited to create unique product offerings that will help grow revenue and provide a strong return to the group.”

Verisma CEO & President Marty McKenna, NewSpring Healthcare investment

“NewSpring brought the knowledge, connections, and business discipline we needed to scale Verisma to the next level. Their guidance and expertise have enabled us to unlock the company’s potential.”