News

NewSpring Capital Invests in LifeShield, Inc.

RADNOR, PA, June 17, 2010 - NewSpring Capital, a leading provider of private equity capital in the Mid-Atlantic region, today announced that it participated in an investment in LifeShield Inc. through its growth equity fund, NewSpring Growth (formerly known as NewSpring Ventures).  Headquartered in Yardley, PA., LifeShield plans to use the proceeds to provide working capital to expand its market presence.
 
LifeShield, Inc. provides wireless home security and alarm monitoring systems.  The senior management team is led by Mike Hagan, who serves as the Company's CEO and Chairman of the Board. Prior to joining LifeShield, Mr. Hagan served as Chairman and CEO of NutriSystem, one of NewSpring's earlier successful investments. Mike Hagan has had a long and prosperous relationship with NewSpring dating back to 2002 when the two were the lead architects in acquiring a majority stake in NutriSystem.  Mr. Hagan led the team that turned around the struggling weight loss company in 2002 into a leading weight loss provider that reached $780 million in sales by 2007.

 "This opportunity is very reminiscent of the challenges we had at NutriSystem in the very beginning, and I look forward to working with Mike DiPiano and the NewSpring team as we look to build another leading consumer brand in a $15 billion industry that's been resistant to change", Hagan commented.

"Mike is a CEO who has demonstrated the ability to assemble a strong management team while developing and implementing a successful business strategy" said Michael DiPiano, NewSpring General Partner.  "LifeShield's unique product line-up and technology position the company well to compete against the dominant security services providers.  We look forward to partnering with Mike and the rest of his team at LifeShield in developing a successful security business."