NewSpring Announces Significant Expansion into the Federal Sector with the formation of the NewSpring Holdings Federal Advisory Board

NewSpring ("the Firm"), a family of private equity strategies, today announced that NewSpring Holdings, the Firm's majority investment strategy focused on sector-specific platform builds, has formed the NewSpring Holdings Federal Advisory Board, a group of accomplished and deeply experienced federal services experts who will drive value into NewSpring Holdings’ current and future federal platform companies. The formation of the Advisory Board follows significant momentum in the federal sector, including the July 2023 acquisition of BridgeCore, establishing the Bcore platform, and completing three add-on acquisitions of GeoYeti, teKnoluxion, and 2 Twelve Solutions. In 2022, NewSpring Holdings sold Avantus Federal, a mid-market data, cyber and space platform, for $590 million.

Led by Chairman Andy Maner, former CEO of Avantus, and NewSpring Holdings Federal Operating Partner Chris Blahm, former Chief Growth Officer of Avantus, the NewSpring Holdings Federal Advisory Board’s founding members consist of Senator Roy Blunt, Lieutenant General Kevin McLaughlin (USAF ret.), Luanne Pavco, and Jeremy King. This group will provide strategic guidance as NewSpring Holdings grows its portfolio and works with innovative businesses that provide services and solutions to meet the wide-ranging and sophisticated needs of the U.S. Government across multiple platforms.

• Andy Maner has been a trusted executive with NewSpring since 2018, as the former CEO of Avantus and the current Executive Chairman of the Board of Bcore. His distinguished career, marked by numerous achievements in both the public and private sectors, makes him an exceptional choice for Chairman of the Federal Advisory Board. Gaining expertise during a tenure at The White House, CFO of the Department of Homeland Security, and building and selling private companies that served the federal space for double-digit return multiples, Andy brings a wealth of knowledge to the position.
• Chris Blahm is a seasoned executive with demonstrated success working with Public Sector clients serving the Department of Defense and the Intelligence Community, focusing on information technology, business strategy, and developing client solutions. Previous organizations include CACI, NISC, IBM, and Avantus. He is responsible for accelerating growth across the NewSpring Holdings Federal Platform investments through strategic M&A and organic sales channels.
• Senator Roy Blunt dedicated his entire career to public service, serving in the US Senate from Missouri from 2011 to 2023. As a former elected official, Blunt brings a global perspective on government operations, a mission focus on defense and intelligence, and high-level problem-solving. Known for his pragmatic approach to governance, Senator Blunt has been a key player in areas such as health care, education, and national security. His tenure is marked by efforts to promote bi-partisan cooperation and economic development. Senator Blunt’s extensive network and experience will create valuable opportunities for NewSpring Holdings’ leadership teams, offering them strategic guidance on growing a company that effectively serves the U.S. Government.
• Lieutenant General Kevin McLaughlin (USAF ret.) has 41+ years of experience in the space and cyberspace business with a focus on leading large-scale global organizations. As the former Deputy Director of U.S. Cyber Command, General McLaughlin has unique strengths in operations, strategic planning, policy development, organizational transformation, and human capital development. As an active member of the Avantus Board, he was integral in guiding capabilities for customer missions and the professional development of colleagues.
• Luanne Pavco has held several senior executive leadership roles, including Managing Partner, President, and Chief Growth Officer at renowned organizations such as IBM, Avantus, and Slalom Consulting. Her extensive background in scaling companies, providing executive-level mentorship and advisory services, and her deep market knowledge will be invaluable to the Federal Advisory Board as NewSpring Holdings enhances portfolio company operations and delivery.
• Jeremy King has played a strategic role in building leadership teams for high-growth companies through his 25 years of cultivating a network of senior government officials within the intelligence, defense, and national security communities. As a trusted advisor, he has helped transition and guide hundreds of top federal executives and flag officers into private sector, consulting, advisory, and board roles.

“We are delighted to partner with Andy and these esteemed leaders as force multipliers of the NewSpring Holdings disciplined business-building and value creation initiatives. Their broad purview of the market, people-focused ethos, and past experiences will enhance our current and future investments by helping to navigate complex industry challenges and seize emerging opportunities.”

The establishment of the Federal Advisory Board aligns with NewSpring Holdings’ Industry Leader Approach – a key component of the team’s buy-and-build strategy for scaling lower-middle-market companies. This strategy includes collaborating with skilled operators and experienced management teams who possess domain expertise in highly fragmented markets to create exceptional value.

“It’s an honor to work with NewSpring again to establish and guide multiple platforms in the government services space. The distinguished and talented careers that our Advisory Board brings together will not only enhance government missions but also unlock immense value for NewSpring.”

About NewSpring

NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages approximately $3.5 billion across five distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Having completed over 250 investments, NewSpring brings a wealth of knowledge, experience, and resources to take growing companies to the next level and beyond. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. To learn more, visit www.newspringcapital.com.