NEWSPRING CAPITAL ANNOUNCES THREE EXITS
October 08, 2013
RADNOR, PA, October 9, 2013 – NewSpring Capital is pleased to announce it has successfully exited investments in Archive Systems (“Archive”), Climax Manufacturing Company (“Climax”) and York Telecom ("York"), portfolio companies of NewSpring Capital’s dedicated mezzanine fund, NewSpring Mezzanine Capital. The three exits were a result of the refinancing of NewSpring’s subordinated debt investments in each of the companies.
Steve Hobman, General Partner of NewSpring, commented, "We are pleased with the results of the partnerships with Archive, Climax and York during the time of our investment in each of the companies. Each management team consistently demonstrated the operational excellence we seek when working with a company. Their hard work and dedication made it possible to effectively execute on their vision and ultimately produce a terrific outcome for our investors."
About Archive Systems Founded in 1991, Archive delivers products and services that enable organizations to manage paper and digital documents on-site and off-site throughout their lifecycle. The Company provides a bridge to a paperless future by uniting traditional records management services with cloud-based Virtual File Room technology.
About Climax Manufacturing Company Climax Manufacturing Company is a leading designer, manufacturer and marketer of specialty paperboard packaging products and uncoated recycled paperboard to a roster of blue chip customers. The Company is known for its ability to produce high quality products for its customers with relatively little lead time.
About York Telecom Headquartered in Eatontown, NJ, York specializes in the design, integration, and management of enterprise-wide video communication solutions for government and corporate customers. York has deployed and maintains over 15,000 video systems for over 200 customers worldwide. The Company also provides a wide range of services including professional engineering and design services, equipment resale and installation services, and ongoing managed services.