The Bottom Line: NewSpring Invests in Wize Solutions
December 20, 2023
NewSpring ("the Firm"), a family of private equity strategies, announced today that NewSpring Mezzanine, the Firm's dedicated private credit strategy, has invested subordinated debt and equity to support the acquisition of Wize Solutions ("Wize") alongside Argosy Capital Partners and Woodlawn Partners.
Wize is a leading equipment installation and service provider to the warehouse industry
Wize specializes in the professional installation of material handling equipment. The company is a full-service warehouse racking, dock and door, and automation installation business, primarily serving OEMs, distributors, and end users across the country with a focus on the western U.S., having completed over 2,500 projects over the past five years.
Wize leverages a flexible labor model and proprietary inventory tracking application to gain a competitive advantage
Wize has grown significantly by focusing on efficiency, developing a proprietary inventory tracking application, and expanding its network of manufacturer, distributor, and service providers focused on the material handling equipment space. The company has a network of installation crews across the U.S. that allow Wize to service customer projects across a wide range of geographies. Through the utilization of a robust internal installation team, supplemented by a network of sub-contractors, Wize can maintain a high level of quality while remaining agile in responding to client requests and needs.
Wize operates in the large and growing warehouse solutions market
Wize operates in a sizeable addressable market supplemented by several industry tailwinds, including the aging infrastructure of warehouses in the U.S., the increasing use of automation, growing demand for warehouse capacity, and the reshoring of manufacturers to the U.S.
"Existing warehouse spaces across the U.S. will need to continue upgrading their facilities to meet the rapidly growing demand for their services. At Wize, we're committed to providing these businesses with modern tools and materials that empower them to increase efficiency, make the most of their spaces, and keep workers safe. We're thrilled to partner with the NewSpring team as we continue our expansion across the U.S."
Wize is managed by an opportunistic and growth-oriented leadership team
Wize is led by President Tyson Bigelow and seasoned professionals Ryan Boucher and Josh Trayner, who have been with the business for over a decade.
"Warehouses continue to serve a critical function across the U.S. economy as demand for space among manufacturers and online retailers continues to rise. Wize provides value-adding solutions that enable warehouses to operate more efficiently and has positioned itself well to capture a larger segment of this fast-growing market. We see opportunity for Wize to expand, and we're excited to help Tyson and his team bring this business to new levels of growth.