News
NewSpring Capital Welcomes New Board Member to Portfolio Company MinSec Holdings, Inc.
RADNOR, PA, January 3, 2011 - NewSpring Capital, a family of private equity funds providing growth and expansion capital to companies the Mid-Atlantic region, announced today that its NewSpring Healthcare and NewSpring Mezzanine portfolio company, MinSec Holdings, Inc., a leading provider of private community correctional services, has appointed the Honorable Mark S. Schweiker to its Board of Directors. "Mark is an energetic, dynamic person and has already been impactful in providing guidance and leadership to the Company. He is truly an asset for MinSec and we are fortunate to have a balanced perspective through his strong understanding of our industry and his extensive experience in government," said Sean McDougall, Chief Executive Officer, MinSec Holdings, Inc. As Director and Board member, Mark Schweiker brings great business and public sector experience to the mission of MinSec. His understanding of the corrections industry and effective corrections policy and operations was borne of 15 years of extraordinary public service as county commissioner, Lieutenant Governor and 44th Governor of the Commonwealth of Pennsylvania. This period included election and re-election as Bucks County Commissioner. In this capacity, he was a member of the Bucks County Prison Board (1988 -1994). Later, following the 1994 election and 1998 re-election, respectively, of the Honorable Tom Ridge as Governor and Mr. Schweiker as Lieutenant Governor, Mark served in the influential position of Chairman of the State Board of Pardons (1995 - 2001). During this time, Mr. Schweiker is also credited with directing a nationally acclaimed innovation effort across state government-including the Department of Corrections-that increased accountability, reduced costs and improved public safety. Mark Schweiker currently serves as the President of PRWT's Business Process Solutions (BPS) unit. BPS provides large-scale back office operational services and solutions to government and commercial clients throughout the country. With expertise in all core business areas: profit and loss, general management, sales, marketing, finance, information technology, human resources, communications, and government affairs, Mr. Schweiker also holds a B.S. from Bloomsburg University and an M.A. in management from Rider University.
"This is a very exciting and dynamic time in the community corrections market," commented Brian G. Murphy, Chairman of MinSec and NewSpring General Partner. "Mark's business and political acumen will greatly assist MinSec in expanding its value proposition to federal, state and local municipalities."
