News

NewSpring Capital Raises $200 Million Mezzanine Fund

RADNOR, PA - NewSpring Capital, a family of private equity funds providing growth and expansion capital to the Mid-Atlantic region, today announced the final close and completed formation of its second mezzanine fund, NewSpring Mezzanine Capital II, L.P. ("NSM II" or the "Fund") on September 8, 2011. In total, the Fund exceeded its initial target of $150 million and closed at its hard cap of $200 million. NSM II received strong support from its existing investor base as well as from a diverse group of new investors including insurers, public plans, financial institutions and individuals.

"We appreciate the continued support of our existing investors and are excited to work with our new limited partners. This fund size enables us to continue to execute on the successful investment strategy we achieved in our initial fund," said Andrew Panzo, General Partner.

NSM II will provide investors with both current income and long-term capital appreciation through investing in a portfolio of mezzanine securities of established andprofitable small to mid-sized companies primarily in the business services, healthcare, information technology, and specialty manufacturing sectors. The Fund will lead or co-lead sponsored and unsponsored transactions with targeted initial investment amounts ranging from $4 to $10 million. To date, three deals have been completed totaling approximately $25 million in invested capital. Recent transactions include providing financing to information solutions provider, Emtec Inc. and Quantum Global Technologies, LLC, a leading provider of outsourced tool and parts cleaning and clean room services to the semiconductor manufacturing industry.

Our robust sourcing platform continues to yield a healthy pipeline of opportunities and we look forward to working with promising businesses and their management teams to support their objectives," added Steven Hobman, General Partner.