News

NewSpring Capital Leads Mezzanine Investment in Archive Systems

RADNOR, PA, May 11, 2010 - NewSpring Capital, a family of private equity funds providing growth and expansion capital to the Mid-Atlantic region, announced today that NewSpring Mezzanine, the dedicated mezzanine fund of NewSpring Capital, led an investment in Archive Systems, Inc. The Company is a leading provider of integrated document process management services.  They serve approximately 1,000 customers in both the physical and electronic document management space.     
Archive Systems was founded in 1991 in Fairfield, NJ to address the demands of businesses seeking records storage solutions. Today, the Company is a leading provider of on demand document management and process automation services. The Company's product offerings include Aspen Accounts Payable and Virtual File Room as well as off-site records management for businesses located throughout the United States.  The Company's principal records management services include storage of records, filing, retrieval and destruction of records, courier pick-ups and delivery and database management.    "We welcome NewSpring Capital to our company, and appreciate the confidence they have demonstrated in our team and our strategy, said Gordon Rapkin, CEO of Archive Systems.  Archive Systems is a leading innovator in the marketplace, and we are expanding our service area across the nation.  NewSpring is helping to fuel our continuing growth."

"Archive Systems, Inc. is a great addition to the NewSpring Mezzanine portfolio.  The Company has innovative products and a strong management team, said Steve Hobman, NewSpring General Partner.  We are happy to be in a position to support Archive as they grow and strengthen their position as a market leader in both the physical and electronic document management space."