NewSpring Mezzanine Realizes Three Successful Exits in Third Quarter
November 29, 2018
Radnor, PA – November 29, 2018 – NewSpring (the “Firm”), a family of private equity strategies, announced today that NewSpring Mezzanine ("NewSpring"), the Firm’s dedicated mezzanine strategy, has successfully exited AUC Group, L.P. (“AUC”), Quantum Global Technologies, LLC (“QuantumClean”), and SpeedConnect, LLC (“SpeedConnect”).
AUC was exited through a strategic sale to AquaVenture Holdings. NewSpring General Partner, Andrew Panzo served as an active Board Member throughout NewSpring’s three-year investment, during which AUC expanded their geographic footprint with the addition of two new regional offices in Mobile, AL and Tucson, AZ along with the addition of over 500 new treatment plants throughout 14 states. Since their inception in 1970, AUC has installed over 1,500 wastewater treatment plants in North America, processing over 200 million gallons of wastewater per day.
QuantumClean was exited through a strategic sale to Ultra Clean Holdings. NewSpring first invested in QuantumClean in 2011 led by NewSpring General Partner, Greg Barger, who went on to serve as a trusted Board observer. Throughout the investment period, QuantumClean opened five new facilities worldwide and completed three acquisitions creating the largest global footprint for any one company in the industry. Since their inception in 2000, Quantum Global Technologies grew to 19 ultra-high purity cleaning and recoating sites located in eight countries.
SpeedConnect was exited through a strategic sale, resulting in the Company selling off a portion of their assets while remaining an independently operated entity. NewSpring Partner, Anne Vazquez served as an active Board member throughout NewSpring’s four-year investment period, during which SpeedConnect expanded their geographic footprint and added service offerings like LTEXtreme and SC Anywhere Satellite Internet. SpeedConnect was founded in 2001 and provides internet services to homes and business throughout ten states in the Midwest.
“We work diligently to create value for our investors and portfolio companies, and it’s gratifying to realize this level of exit activity throughout the Mezzanine portfolio,” said Andrew Panzo, NewSpring General Partner. “Having been personally involved in our AUC investment, I am extremely proud of that outcome, and speaking on behalf of my colleagues, I echo that sentiment for all of these successful strategic outcomes. It has been a real pleasure working with these management teams and we look forward to seeing their continued success.”
AUC provides both field-erected wastewater treatment plants as well as flexible, modular plants that are designed to expand as needs arise. AUC has successfully completed more than 1,500 wastewater treatment plants in our history, ranging in capacity from 5,000 gallons per day to over 1,500,000 gallons per day. While AUC has historically focused on the Texas wastewater treatment market, the Company has completed projects in other states including Alabama, Arkansas, Arizona, California, Colorado, Indiana, Louisiana, Missouri, New Mexico, and Oklahoma. In addition, AUC has completed projects in Mexico and El Salvador. AUC is capable of providing wastewater treatment plant solution services in all 50 States as well as internationally. With their available financing options, they are able to offer more cost-efficient wastewater solutions in every State and municipality where they build. For more information, visit.
Quantum Global Technologies, LLC (“QuantumClean”) is headquartered in suburban Philadelphia, PA. QuantumClean is the global leader in sub-10nm validated, ultra-high purity outsourced process tool chamber parts cleaning and coating services, tool part life extension and process tool part optimization solutions to the semiconductor wafer fabrication, OEM and OPM industries. Founded in 2000, QuantumClean operates innovative Advanced Technology Cleaning Centers® built on the premise of providing customers process improvement through consistently cleaner parts® that exceed industry standards. These chamber solutions dramatically reduce our customers’ total cost-of-ownership. With 1,600 employees in 19 ultra-high purity cleaning and recoating sites located in eight countries, QuantumClean provides unsurpassed capabilities and convenience worldwide. For more information, visit.
SpeedConnect provides wireless and satellite internet, phone and DISH® television. They connect you where you live and play. SpeedConnect supports the small towns and rural communities that make our country flourish. Your choice to live and work next to nature does not mean that you have to be disconnected from the rest of the world. Whether you want to share family photos with faraway relatives, watch or read the daily news or relax to watch the latest episode of your favorite show — they are here to connect you to the services you need. At SpeedConnect, providing services to the heart of America is why they come to work each day. SpeedConnect serves homes and businesses in Michigan, Iowa, Nebraska, Illinois, Minnesota, South Dakota, Montana, Idaho, Texas and Arizona. For more information, visit.