NewSpring Capital Successfully Exits LiquidHub
March 25, 2014
RADNOR, PA - March 25, 2014 - NewSpring Capital is pleased to announce that it has successfully exited LiquidHub, Inc. ("LiquidHub"), a portfolio company of its dedicated growth and expansion stage fund, NewSpring Growth Capital II ("NewSpring"). The exit was a result of a recapitalization executed by LiquidHub.
Since the time of investment, LiquidHub has rapidly grown into a digital integrator focusing on customer engagement solutions and solving rapidly changing business challenges through technology innovation. The Company steadily and carefully grew its geographic footprint by expanding its global presence to six offices from three since NewSpring's investment in 2007. LiquidHub has also enhanced its leadership and management depth and currently employs 28 partner and managing director level executives. As a result, the Company has enjoyed a consistent pace of key account wins and has driven revenue growth of over 250% during NewSpring's holding period. Additionally, strong oversight and internal controls led to improved profitability as the Company was able to increase EBITDA margins by 50% during the same time frame.
"We are extremely pleased to have been a part of the success at LiquidHub over the past six and one-half years. I truly have mixed emotions about concluding our partnership. The management team has consistently exceeded our expectations since we made our investment in late 2007 and I will miss working with them," said Marc Lederman, General Partner and Co-Founder of NewSpring Capital and Chairman of the Board of LiquidHub (up to the consummation of the exit). "Working with passionate and talented business leaders such as CEO Jonathan Brassington, as well as the entire LiquidHub management team, was truly fulfilling. They did an excellent job executing on the Company's vision and produced a very attractive outcome for our Limited Partners. I know that LiquidHub will continue on its strong growth trajectory and be an excellent investment for the Company's new capital partners."
"I want to thank NewSpring and, in particular, Marc Lederman for all of his guidance and support," said Jonathan Brassington, CEO of LiquidHub. "NewSpring is a leading technology growth stage private equity firm in the Mid-Atlantic region. Having been in their portfolio for the last six years, it's easy to understand why companies choose to partner with them. Our strong partnership with NewSpring has helped LiquidHub to consistently surpass our financial and growth goals."
LiquidHub is a digital integrator that partners with businesses to improve customer engagement and drive growth. With operations in North America, Asia, and Europe, the Company empowers the leading global healthcare and financial services companies through technology innovation. Customer successes are the result of a culture rooted in thought leadership and delivery excellence.