RADNOR,
Pa., Aug. 15, 2024 /PRNewswire/ --
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 as a
Missouri state Senator 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.
Lee Garber, NewSpring General
Partner, shared, "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," said
Andy Maner. "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.
View original
content:https://www.prnewswire.com/news-releases/newspring-announces-significant-expansion-into-the-federal-sector-with-the-formation-of-the-newspring-holdings-federal-advisory-board-302223515.html
SOURCE NewSpring Holdings LLC