NewSpring Holdings Launches New AI-Enabled Digital Transformation Platform with the Acquisitions of Two ServiceNow Partners – CoreX & ITS Partners

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 launched a new platform company in the ServiceNow partner ecosystem—through its acquisitions of CoreX and ITS Partners (“ITS”)—to provide consulting, implementation and managed services in connection with ServiceNow’s AI-enabled workflow solutions.

Led by ServiceNow ecosystem veterans since 2009, CoreX began as a company on a mission to help its customers harness the newly-expanded power of ServiceNow's Finance & Supply Chain (“FSC”) workflows to unlock trapped value for core business operations. The company’s offerings are specifically aligned around industry solutions and an overall enterprise resource planning (“ERP”) modernization strategy.

Adding ITS Partners, with their adjacent expertise in Operational Technology, IT Asset Management, IT Operations Management, Customer Service Management, and IT Transformation enhances CoreX’s capabilities and creates a powerful, fully-integrated platform. Together, CoreX and ITS are uniquely equipped to optimize essential business functions for ServiceNow customers, raising the bar as a top-tier partner.

“We see immense opportunity in ServiceNow’s expanding ecosystem, where skilled boutique partners are crucial in realizing the growth of its AI-enabled workflow solutions into a reported $500 billion TAM,” said Daniel Salvato, NewSpring Principal. “Our investment in CoreX, with its world-class leadership team and strategic focus on ERP modernization and supply chain workflows, ideally positions us to capitalize on some of ServiceNow’s most important growth tailwinds.”

ITS is CoreX’s first add-on acquisition following its acquisition by NewSpring. The deal represents the first step in building a holistic platform company through M&A and organic growth that vastly improves workflows for customers in a wide range of industries, including manufacturing, energy, financial services, healthcare, retail, and more.

"CoreX has always been a leading provider of ServiceNow transformation with an agile, industry-first approach, which allows us to uniquely connect the platform across business units and drive ROI across the value chain. We're thrilled with our partnership with NewSpring Holdings, particularly their success in building high-growth companies that prioritize human capital as a core driver of efficiency and expansion. Now, by combining our considerable forces with ITS, we have teamed up with one of the ServiceNow ecosystem's best consultancies and accelerated our path to achieving the scale required to fully serve this growing market."

With over 25 years of experience driving IT transformation for its customers, ITS has built a strong reputation in the ServiceNow community, maintaining a presence in both the North American and European markets. They have a proven track record in delivering successful solutions across Operational Technology ("OT"), IT Asset Management ("ITAM"), IT Operations Management ("ITOM"), Security Operations ("SecOps"), Customer Service Management ("CSM"), Integrations, and Managed Services. Their deep understanding of key industries such as manufacturing, technology, retail, and utilities enables them to offer tailored solutions that meet specific industry challenges – driven by their culture of innovation and delivery excellence.

"Joining forces with CoreX and NewSpring opens up exciting new possibilities for our team and clients. What gets us truly excited about our next chapter is our shared commitment to driving real business value and fostering innovation for our clients. We're also excited to leverage the CoreX leadership's experience building and scaling the best-of-the-best ServiceNow consulting teams to help accelerate our growth, allowing us to bring our ITS capabilities to an even broader marketplace."

The unified value proposition of CoreX and ITS in the ServiceNow ecosystem is aligned with NewSpring Holdings thesis-driven approach, which leverages proven organic growth strategies and a disciplined M&A process to accelerate growth in our targeted markets—including logistics, financial technology, government services, IT services, sports marketing, and now workflow automation. As exemplified by the initial partnership with CoreX, each of NewSpring Holdings’ acquisitions entails first co-developing an investment thesis with skilled operators and experienced management teams who can apply their domain expertise to refine our focus, followed by collaboration on high-impact value creation initiatives.

About NewSpring

NewSpring is a lower-middle market focused private equity firm that 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 over $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.

About CoreX

CoreX is the first and only consultancy 100% exclusively focused on connecting and streamlining ServiceNow Customers' core Business Operations, Finance, Procurement, Supply Chain and ERP transformation processes.

Built on decades of Industry and ServiceNow know-how, CoreX is on a mission to fix siloed, manual processes, empowering our customers and bringing the ServiceNow connected, workflow-driven promise to the Finance, Procurement and Supply Chain functions.

With proven success connecting the critical OCM and strategy elements needed to succeed in transforming core business operations – and the ServiceNow technology chops to ensure that vision is rolled out in the right way. Learn more at www.corexcorp.com or connect with us at hello@corexcorp.com

About ITS

ITS Partners is an Elite ServiceNow Partner, renowned for its expertise in Operational Technology, IT Asset Management, and other key ServiceNow practice areas. Based in Michigan, ITS has built a strong reputation for delivering tailored solutions to manufacturing and utilities industries, with a proven track record of driving real business results for its customers.