NewSpring's 2024 Year in Review
January 15, 2025
NewSpring celebrated a major milestone in 2024: 25 years of empowering lower-middle-market businesses to achieve remarkable growth. This success would not have been possible without the unwavering trust and collaboration of our limited partners, the bold vision and innovation of the business leaders we support, and the dedication and expertise of our employees. Together, we’ve built more than just a firm—we’ve created a community driven by a shared commitment to growth and excellence.
2024 Highlights
We partner with visionary leaders across diverse industries, reinforcing our commitment to fostering innovation and driving meaningful growth. Together, we are building on a strong foundation of collaboration, empowering businesses to achieve their full potential and create lasting impact in their markets.
New Investments & Exits
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Creating Liquidity
In 2024, NewSpring established NewSpring Elevate, a continuation vehicle that invested in Energage and PX, providing liquidity for existing shareholders and reinforcing our commitment to the future growth of these high-potential companies. This strategic investment underscores NewSpring Growth’s dedication to backing transformative technology companies and driving sustained value creation across our portfolio.
NewSpring Holdings Federal Platform Expansion
In 2024, NewSpring Holdings announced a significant expansion into the federal sector with the launch of the NewSpring Holdings Federal Platform, designed to deliver mission-critical solutions that address the sophisticated needs of U.S. Government agencies. This initiative includes the acquisitions of BCore, Xpect Solutions, and C Speed, each enhancing our capabilities in areas such as visual intelligence, cybersecurity, and advanced radar systems. Guided by a distinguished Federal Advisory Board, including Chairman Andy Maner and Federal Operating Partner Chris Blahm, we leverage an industry leader approach, collaborating with skilled operators to create exceptional value in the federal services sector.
Successful Year of Fundraising
In July, we closed NewSpring Mezzanine Capital V with $390 million in commitments, exceeding our target and reinforcing our commitment to partnering with lower-middle market businesses in need of flexible financing.
Growing Team
This year, we welcomed 11 talented professionals to the NewSpring team, expanding our capacity to support the growth and success of our portfolio companies. Guided by our core values of partnership, innovation, and integrity, these new team members embody our commitment to fostering a collaborative culture where diverse perspectives drive impactful solutions.
Content That Inspires Growth
In 2024, we created and shared a variety of resources to inspire growth and success for business leaders in the lower-middle market. Each piece reflects our commitment to sharing knowledge, fostering innovation, and empowering our community.
25 Tips for Growing Lower-Middle-Market Businesses
To commemorate our 25th anniversary, we connected with 25 leaders of our portfolio companies to gather their firsthand advice on achieving growth and success in the lower-middle market. Drawing from their unique experiences, these leaders share practical strategies and insights that have driven their success from operational strategies to leadership insights.
25-years of Lower-Middle Market Impact
Over the past 25 years, NewSpring has partnered with visionary leaders across diverse industries to empower growth, innovation, and transformation in the lower-middle market. We’ve highlighted the journey, celebrating the scale of our impact, the breadth of industries we’ve spanned, and the meaningful relationships we’ve fostered along the way.
Building Companies of Scale
We explored strategies for fostering strong organizational leadership and empowering employees to drive growth. These insights highlight the role of leadership in creating sustainable success.
Mission IT and the Impact on Law Enforcement
We analyzed how technology is transforming law enforcement, providing insights into emerging trends and opportunities for innovation in this critical sector.
LP's Payback Purgatory
NewSpring Co-Founder Marc Lederman discussed the importance of transparency, strategic pivots, and building trust with LPs to navigate challenges and drive long-term success in the lower-middle market.
The Metrics and Mechanics That Get Startups Funded, According to 5 Active Investors
NewSpring Advisory Partner Dan Goldsmith shared key metrics and strategies that early-stage companies should focus on to attract investors and build a strong foundation for long-term growth.
Awards and Recognition
Members of the NewSpring team were honored for their leadership, innovation, and commitment to excellence.
NewSpring’s reputation for excellence was further solidified this year through several industry awards recognizing our impact in private equity and beyond. These accolades are a testament to the strength of our partnerships, our innovative approach to investing, and our ability to create meaningful value.
Looking Ahead
As we celebrate 25 years of success, we remain focused on the road ahead. NewSpring’s future is bright, and our commitment to empowering lower-middle-market businesses is stronger than ever. Thank you for being part of our story—we look forward to building the next chapter together.
Here’s to the next 25 years of shared growth and impact.
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