NewSpring Capital Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, NewSpring Capital has acquired 13 companies. It has also invested in 18 others.

NewSpring Capital’s most common sectors for investment areinformation technology (13%) and healthcare services (8%) . The Firm’s most common investment types include growth capital (53%) and buyout (lbo, mbo, mbi) (22%). In total, NewSpring Capital has invested in 31 US states and 4 different countries. Its largest (disclosed) acquisition occurred in 2012 when it acquired Internet Pipeline for $71M.

In the last 3 years, NewSpring Capital has exited 14 companies. The Firm’s most common exit type is trade sale (56%). NewSpring Capital’s largest (disclosed) exit occurred in 2019 when it sold Paragon Bioservices for $1.2B.

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M&A Summary

M&A Total Activity290
- M&A Buy Activity200
- M&A Sell Activity90
Total Sectors Invested 44
Total Countries Invested 4
M&A Buy/Sell Connections 123
M&A Advisors 6

NewSpring Capital

Transaction Criteria	Min	Max
Target Revenue	20	100
Target EBITDA	2	-
Investment Size	-	-
Enterprise Value	-	-
values in millions of USD

Transaction Criteria

Min

Max

Target Revenue

100

Target EBITDA

Investment Size

Enterprise Value

values in millions of USD

Year	≤ '20	'21	'22	'23	'24	'25	T
Buy (9.8/yr)	#	151	19	10	10	10	-	200
vol	$142M						$142M
Sell (5.2/yr)	#	64	12	6	2	2	4	90
vol	$3.4B	$1.0B	$590M	$26M			$5.1B
	290

Year

≤ '20

'21

'22

'23

'24

'25

Buy (9.8/yr)

151

200

vol

$142M

Sell (5.2/yr)

vol

$3.4B

$1.0B

$590M

$26M

$5.1B

290

Company	Date	Value	Type
SiteSpect, Inc.	2025-06-30	-	Trade Sale
Auburndale, Massachusetts · www.sitespect.com
Wealthcare Capital Management LLC	2025-06-03	-	Trade Sale
Richmond, Virginia · www.wealthcaregdx.com
United Building Solutions	2025-02-18	-	Secondary Sale
Pennsauken, New Jersey · www.unitedbuildingsolutionsusa.com
B-O-F Corp.	2025-02-04	-	Secondary Sale
Aurora, Illinois · www.bofcorp.com
SnagAJob.com, Inc.	2024-11-15	-	Trade Sale
Glen Allen, Virginia · www.snagajob.com
The Virginia Food Group	2024-11-08	-	Growth Capital
Wakefield, Virginia · www.vadinerrestaurant.com
Xpect Solutions, Inc.	2024-10-15	-	Buyout (LBO, MBO, MBI)
Fairfax, Virginia · www.xpectsolutions.com
Burnyzz LLC	2024-10-10	-	Buyout (LBO, MBO, MBI)
Ocala, Florida · www.burnyzz.com
C Speed LLC	2024-10-08	-	Buyout (LBO, MBO, MBI)
Liverpool, New York · www.cspeed.com
Great Harvest Franchising, Inc.	2024-10-01	-	Growth Capital
Dillon, Montana · www.greatharvest.com
View All >>

Company

Date

Value

Type

SiteSpect, Inc.

2025-06-30

Trade Sale

Auburndale, Massachusetts · www.sitespect.com

Wealthcare Capital Management LLC

2025-06-03

Trade Sale

Richmond, Virginia · www.wealthcaregdx.com

United Building Solutions

2025-02-18

Secondary Sale

Pennsauken, New Jersey · www.unitedbuildingsolutionsusa.com

B-O-F Corp.

2025-02-04

Secondary Sale

Aurora, Illinois · www.bofcorp.com

SnagAJob.com, Inc.

2024-11-15

Trade Sale

Glen Allen, Virginia · www.snagajob.com

The Virginia Food Group

2024-11-08

Growth Capital

Wakefield, Virginia · www.vadinerrestaurant.com

Xpect Solutions, Inc.

2024-10-15

Buyout (LBO, MBO, MBI)

Fairfax, Virginia · www.xpectsolutions.com

Burnyzz LLC

2024-10-10

Buyout (LBO, MBO, MBI)

Ocala, Florida · www.burnyzz.com

C Speed LLC

2024-10-08

Buyout (LBO, MBO, MBI)

Liverpool, New York · www.cspeed.com

Great Harvest Franchising, Inc.

2024-10-01

Growth Capital

Dillon, Montana · www.greatharvest.com

View All >>

Company	Acquired	Add-On/Sale	Date	#
Manitowoc Tool & Machining LLC	2022-11-30	Mid Valley Industries LLC	2024-02-08	1
Manitowoc, Wisconsin · www.mantool.com	Kaukauna, Wisconsin · www.mvii.com
Magna5	2016-11-10	Apogee IT Services - US Assets	2023-02-06	12
Pittsburgh, Pennsylvania · www.magna5.com	Sewickley, Pennsylvania
Financeware	2018-01-01	VMS Hub	2022-04-04	1
West Chester, Pennsylvania · www.financewaregroup.com	Jersey, New Jersey
Magna5	2016-11-10	Magna5 - Telecom Business	2021-08-10	1
Pittsburgh, Pennsylvania · www.magna5.com	Frisco, Texas
Financeware	2018-01-01	Vertical Management Systems, Inc.	2018-01-01	2
West Chester, Pennsylvania · www.financewaregroup.com	Pasadena, California · www.vmshelp.com
Magna5	2016-11-10	X5 Solutions, Inc.	2016-11-10	11
Pittsburgh, Pennsylvania · www.magna5.com	Seattle, Washington · www.x5solutions.com
Magna5	2016-11-10	NovaTel Ltd.	2016-11-10	10
Pittsburgh, Pennsylvania · www.magna5.com	San Antonio, Texas · www.novatelnetworks.com
Magna5	2016-11-10	CornerStone Telephone Co.	2016-11-10	9
Pittsburgh, Pennsylvania · www.magna5.com	Troy, New York · www.cornerstonetelephone.com

Company

Acquired

Add-On/Sale

Date

Manitowoc Tool & Machining LLC

2022-11-30

Mid Valley Industries LLC

2024-02-08

Manitowoc, Wisconsin · www.mantool.com

Kaukauna, Wisconsin · www.mvii.com

Magna5

2016-11-10

Apogee IT Services - US Assets

2023-02-06

Pittsburgh, Pennsylvania · www.magna5.com

Sewickley, Pennsylvania

Financeware

2018-01-01

VMS Hub

2022-04-04

West Chester, Pennsylvania · www.financewaregroup.com

Jersey, New Jersey

Magna5

2016-11-10

Magna5 - Telecom Business

2021-08-10

Pittsburgh, Pennsylvania · www.magna5.com

Frisco, Texas

Financeware

2018-01-01

Vertical Management Systems, Inc.

2018-01-01

West Chester, Pennsylvania · www.financewaregroup.com

Pasadena, California · www.vmshelp.com

Magna5

2016-11-10

X5 Solutions, Inc.

2016-11-10

Pittsburgh, Pennsylvania · www.magna5.com

Seattle, Washington · www.x5solutions.com

Magna5

2016-11-10

NovaTel Ltd.

2016-11-10

Pittsburgh, Pennsylvania · www.magna5.com

San Antonio, Texas · www.novatelnetworks.com

Magna5

2016-11-10

CornerStone Telephone Co.

2016-11-10

Pittsburgh, Pennsylvania · www.magna5.com

Troy, New York · www.cornerstonetelephone.com

Sector	Current #	Value	All-time #	Value
Information Technology	9 (10%)	-	25 (12%)	-
Healthcare Services	10 (11%)	-	16 (8%)	14M (10%)
Internet Software and Services	7 (8%)	-	15 (7%)	81M (58%)
Software	7 (8%)	13M (100%)	15 (7%)	13M (9%)
Manufacturing	5 (6%)	-	13 (6%)	13M (9%)
Life Science	2 (2%)	-	12 (6%)	11M (8%)
Business Services	-	-	11 (5%)	-
Medical Products	1 (1%)	-	8 (4%)	-
Communications	-	-	7 (3%)	-
Construction	6 (7%)	-	7 (3%)	-
Aerospace	1 (1%)	-	5 (2%)	-
Consumer Products	2 (2%)	-	5 (2%)	-
Franchising	5 (6%)	-	5 (2%)	-
Marketing	1 (1%)	-	4 (2%)	-
Apparel/Textiles	1 (1%)	-	3 (1%)	-
Automotive	3 (3%)	-	3 (1%)	-
Building Materials	2 (2%)	-	3 (1%)	-
Consumer Services	2 (2%)	-	3 (1%)	-
Financial Services	2 (2%)	-	3 (1%)	-
Food	3 (3%)	-	3 (1%)	-
Technology Hardware	1 (1%)	-	3 (1%)	-
Leisure	-	-	2 (1%)	9M (6%)
Distribution	1 (1%)	-	2 (1%)	-
Environmental	1 (1%)	-	2 (1%)	-
Information Services	-	-	2 (1%)	-
Metals/Mining	2 (2%)	-	2 (1%)	-
Packaging	1 (1%)	-	2 (1%)	-
Restaurants	2 (2%)	-	2 (1%)	-
Safety/Security	1 (1%)	-	2 (1%)	-
Staffing	2 (2%)	-	2 (1%)	-
Defense	1 (1%)	-	1 (< 1%)	-
Digital Media	1 (1%)	-	1 (< 1%)	-
Diversified	-	-	1 (< 1%)	-
E-Commerce	1 (1%)	-	1 (< 1%)	-
Education	1 (1%)	-	1 (< 1%)	-
Electrical Equipment	-	-	1 (< 1%)	-
Energy Services and Equipment	-	-	1 (< 1%)	-
Furniture	-	-	1 (< 1%)	-
Machinery	1 (1%)	-	1 (< 1%)	-
Marine	-	-	1 (< 1%)	-
Media	-	-	1 (< 1%)	-
Plastics	1 (1%)	-	1 (< 1%)	-
Retail	-	-	1 (< 1%)	-
Transportation	1 (1%)	-	1 (< 1%)	-
Total	87	$13M	201	$142M

Sector

Current #

Value

All-time #

Value

Information Technology

9 (10%)

25 (12%)

Healthcare Services

10 (11%)

16 (8%)

14M (10%)

Internet Software and Services

7 (8%)

15 (7%)

81M (58%)

Software

7 (8%)

13M (100%)

15 (7%)

13M (9%)

Manufacturing

5 (6%)

13 (6%)

13M (9%)

Life Science

2 (2%)

12 (6%)

11M (8%)

Business Services

11 (5%)

Medical Products

1 (1%)

8 (4%)

Communications

7 (3%)

Construction

6 (7%)

7 (3%)

Aerospace

1 (1%)

5 (2%)

Consumer Products

2 (2%)

5 (2%)

Franchising

5 (6%)

5 (2%)

Marketing

1 (1%)

4 (2%)

Apparel/Textiles

1 (1%)

3 (1%)

Automotive

3 (3%)

3 (1%)

Building Materials

2 (2%)

3 (1%)

Consumer Services

2 (2%)

3 (1%)

Financial Services

2 (2%)

3 (1%)

Food

3 (3%)

3 (1%)

Technology Hardware

1 (1%)

3 (1%)

Leisure

2 (1%)

9M (6%)

Distribution

1 (1%)

2 (1%)

Environmental

1 (1%)

2 (1%)

Information Services

2 (1%)

Metals/Mining

2 (2%)

2 (1%)

Packaging

1 (1%)

2 (1%)

Restaurants

2 (2%)

2 (1%)

Safety/Security

1 (1%)

2 (1%)

Staffing

2 (2%)

2 (1%)

Defense

1 (1%)

1 (< 1%)

Digital Media

1 (1%)

1 (< 1%)

Diversified

1 (< 1%)

E-Commerce

1 (1%)

1 (< 1%)

Education

1 (1%)

1 (< 1%)

Electrical Equipment

1 (< 1%)

Energy Services and Equipment

1 (< 1%)

Furniture

1 (< 1%)

Machinery

1 (1%)

1 (< 1%)

Marine

1 (< 1%)

Media

1 (< 1%)

Plastics

1 (1%)

1 (< 1%)

Retail

1 (< 1%)

Transportation

1 (1%)

1 (< 1%)

Total

$13M

201

$142M

State/Country	Current #	Value	All-time #	Value
United States	84 (97%)	13M (100%)	197 (98%)	142M (100%)
	Pennsylvania	14 (16%)	-	45 (22%)	85M (60%)
	New York	10 (11%)	13M (100%)	17 (8%)	13M (9%)
	California	10 (11%)	-	17 (8%)	9M (6%)
	Massachusetts	7 (8%)	-	17 (8%)	24M (17%)
	New Jersey	4 (5%)	-	16 (8%)	-
	Virginia	5 (6%)	-	9 (4%)	-
	Florida	4 (5%)	-	9 (4%)	-
	Texas	3 (3%)	-	7 (3%)	-
	Maryland	-	-	7 (3%)	-
	Illinois	2 (2%)	-	6 (3%)	-
	North Carolina	2 (2%)	-	5 (2%)	-
	Wisconsin	4 (5%)	-	4 (2%)	-
	Georgia	2 (2%)	-	4 (2%)	-
	Washington	1 (1%)	-	4 (2%)	-
	Ohio	1 (1%)	-	4 (2%)	-
	Colorado	3 (3%)	-	3 (1%)	-
	Minnesota	1 (1%)	-	3 (1%)	11M (8%)
	Arizona	2 (2%)	-	2 (1%)	-
	Alabama	2 (2%)	-	2 (1%)	-
	Indiana	2 (2%)	-	2 (1%)	-
	Montana	1 (1%)	-	2 (1%)	-
	Kentucky	1 (1%)	-	2 (1%)	-
	Missouri	-	-	2 (1%)	-
	West Virginia	1 (1%)	-	1 (< 1%)	-
	Utah	1 (1%)	-	1 (< 1%)	-
	Kansas	1 (1%)	-	1 (< 1%)	-
	Oregon	-	-	1 (< 1%)	-
	Oklahoma	-	-	1 (< 1%)	-
	Michigan	-	-	1 (< 1%)	-
	Maine	-	-	1 (< 1%)	-
	Louisiana	-	-	1 (< 1%)	-
Canada	2 (2%)	-	2 (1%)	-
	Ontario	2 (2%)	-	2 (1%)	-
Australia	1 (1%)	-	1 (< 1%)	-
Netherlands	-	-	1 (< 1%)	-
Domestic	84 (97%)	13M (100%)	197 (98%)	142M (100%)
Cross-border	3 (3%)	-	4 (2%)	-
Total	87	$13M	201	$142M

State/Country

Current #

Value

All-time #

Value

United States

84 (97%)

13M (100%)

197 (98%)

142M (100%)

Pennsylvania

14 (16%)

45 (22%)

85M (60%)

New York

10 (11%)

13M (100%)

17 (8%)

13M (9%)

California

10 (11%)

17 (8%)

9M (6%)

Massachusetts

7 (8%)

17 (8%)

24M (17%)

New Jersey

4 (5%)

16 (8%)

Virginia

5 (6%)

9 (4%)

Florida

4 (5%)

9 (4%)

Texas

3 (3%)

7 (3%)

Maryland

7 (3%)

Illinois

2 (2%)

6 (3%)

North Carolina

2 (2%)

5 (2%)

Wisconsin

4 (5%)

4 (2%)

Georgia

2 (2%)

4 (2%)

Washington

1 (1%)

4 (2%)

Ohio

1 (1%)

4 (2%)

Colorado

3 (3%)

3 (1%)

Minnesota

1 (1%)

3 (1%)

11M (8%)

Arizona

2 (2%)

2 (1%)

Alabama

2 (2%)

2 (1%)

Indiana

2 (2%)

2 (1%)

Montana

1 (1%)

2 (1%)

Kentucky

1 (1%)

2 (1%)

Missouri

2 (1%)

West Virginia

1 (1%)

1 (< 1%)

Utah

1 (1%)

1 (< 1%)

Kansas

1 (1%)

1 (< 1%)

Oregon

1 (< 1%)

Oklahoma

1 (< 1%)

Michigan

1 (< 1%)

Maine

1 (< 1%)

Louisiana

1 (< 1%)

Canada

2 (2%)

2 (1%)

Ontario

2 (2%)

2 (1%)

Australia

1 (1%)

1 (< 1%)

Netherlands

1 (< 1%)

Domestic

84 (97%)

13M (100%)

197 (98%)

142M (100%)

Cross-border

3 (3%)

4 (2%)

Total

$13M

201

$142M

Type	Current #	Value	All-time #	Value
Growth Capital	57 (66%)	13M (100%)	106 (53%)	13M (9%)
Buyout (LBO, MBO, MBI)	17 (20%)	-	44 (22%)	48M (34%)
Venture	4 (5%)	-	24 (12%)	-
Secondary Buyout	3 (3%)	-	10 (5%)	-
Recapitalization	5 (6%)	-	9 (4%)	-
Going Private	-	-	2 (1%)	10M (7%)
Consolidation	1 (1%)	-	2 (1%)	-
Stake Purchase	-	-	1 (< 1%)	71M (50%)
Acquisition Financing	-	-	1 (< 1%)	-
Divestiture	-	-	1 (< 1%)	-
PIPE	-	-	1 (< 1%)	-
Total	87	$13M	201	$142M

Type

Current #

Value

All-time #

Value

Growth Capital

57 (66%)

13M (100%)

106 (53%)

13M (9%)

Buyout (LBO, MBO, MBI)

17 (20%)

44 (22%)

48M (34%)

Venture

4 (5%)

24 (12%)

Secondary Buyout

3 (3%)

10 (5%)

Recapitalization

5 (6%)

9 (4%)

Going Private

2 (1%)

10M (7%)

Consolidation

1 (1%)

2 (1%)

Stake Purchase

1 (< 1%)

71M (50%)

Acquisition Financing

1 (< 1%)

Divestiture

1 (< 1%)

PIPE

1 (< 1%)

Total

$13M

201

$142M

Type	Total #	Value
Trade Sale	28 (31%)	1.4B (29%)
Trade Sale - Public Company	25 (28%)	3.3B (71%)
Secondary Sale	22 (24%)	-
Unknown	6 (7%)	-
IPO	2 (2%)	-
Merger	2 (2%)	-
Recapitalization	2 (2%)	-
Sold to Management	2 (2%)	-
Stake Sale	1 (1%)	-
Total	90	$4.7B

Type

Total #

Value

Trade Sale

28 (31%)

1.4B (29%)

Trade Sale - Public Company

25 (28%)

3.3B (71%)

Secondary Sale

22 (24%)

Unknown

6 (7%)

IPO

2 (2%)

Merger

2 (2%)

Recapitalization

2 (2%)

Sold to Management

2 (2%)

Stake Sale

1 (1%)

Total

$4.7B

Financial	Deals
Greene Holcomb & Fisher LLC	1
Guggenheim Securities	1
Baker Tilly Capital	1

Financial

Deals

Greene Holcomb & Fisher LLC

Guggenheim Securities

Baker Tilly Capital

Legal	Deals
Blank Rome	3
PwC Law	1
Clifford Chance	1

Legal

Deals

Blank Rome

PwC Law

Clifford Chance

buy	#	Total
< $100M	7	$142M
TOTAL	$142M
Largest	Internet Pipeline, Inc. $71M (2012-02-01)

buy

Total

< $100M

$142M

TOTAL

$142M

Largest

Internet Pipeline, Inc.
$71M (2012-02-01)

sell	#	Total
> $1B	1	$1.2B
$100M to $1B	13	$3.8B
< $100M	3	$88M
TOTAL	$5.1B
Largest	Paragon Bioservices, Inc. $1.2B (2019-04-15)

sell

Total

> $1B

$1.2B

$100M to $1B

$3.8B

< $100M

$88M

TOTAL

$5.1B

Largest

Paragon Bioservices, Inc.
$1.2B (2019-04-15)

		Deals
Acquired from
Investor(s)	6%	13 (6%)
Exited to
Investor(s)	24%	22 (24%)
Strategic(s)	57%	51 (57%)

Deals

Acquired from

Investor(s)

13 (6%)

Exited to

Investor(s)

22 (24%)

Strategic(s)

51 (57%)

FAQ

When was NewSpring Capital founded?

NewSpring Capital was founded in 1999.

What type of investor is NewSpring Capital?

NewSpring Capital is a private equity firm.

Where is NewSpring Capital headquartered?

NewSpring Capital is headquartered in Radnor, Pennsylvania.

How much capital does NewSpring Capital have under management?

NewSpring Capital has 3.5B USD under management.

NewSpring Capital Mergers and Acquisitions Summary

Private Equity Firm Profile

M&A Summary