The Bottom Line: NewSpring Invests in SprayEZ
February 26, 2025
NewSpring ("the Firm"), a family of private equity strategies, today announced that NewSpring Mezzanine, the Firm’s dedicated private credit strategy, has invested subordinated debt and equity in SprayEZ. Joining NewSpring in the transaction are Roebling Capital Partners and Providence Investment Partners with BOK Financial as the senior bank.
SprayEZ is a leading spray foam rigs and coatings company
SprayEZ is a leading manufacturer, assembler, and distributor of spray foam insulation rigs and supplies, providing a full suite of insulation rigs, machines, chemicals, and equipment, including spray guns, transfer pumps, air dryers, hoses, generators, and air compressors. The company also offers training programs, replacement part installation, and equipment repair services to ensure customers receive best-in-class support.
The company will use the proceeds of this transaction to fuel nationwide expansion
With this new investment, the company is preparing to continue its rapid growth by forming a third location in the Southwest U.S., launching a new and significantly expanded aftermarket product line, and expanding distribution of its cutting-edge proprietary roofing solution.
SprayEZ is an established player in the niche rig market
To power its continued expansion, SprayEZ has plans to enhance customer engagement to drive repeat purchases and returning customers. The company also intends to strengthen its customer support and leverage NewSpring’s operational expertise to streamline growth.
“Our dedication to meeting contractor needs has helped us create close relationships with our customers. As these needs continue to evolve, we’re devoted to improving our offering to remain a trusted partner to the construction industry. With our new investors’ support, we’ll expand our reach and continue delivering the best spray foam equipment, rigs, and chemicals in the industry.”
The company is led by a growth-oriented leadership team
Founded in 2013 by Fred and Kibbee Akel, SprayEZ has become a dominant force in the spray foam equipment and coatings industry.
“As construction spend continues to increase in the U.S., demand for high-quality spray foams and coatings will rise significantly, fueling Spray EZ’s expansion. We see a long runway for Spray EZ’s continued growth, and look forward to working with Fred and his entire team.”