NewSpring, an investor across a range of private equity strategies, has promoted Kristin Lee to partner at NewSpring Mezzanine.
Ms. Lee joined NewSpring in August 2014 after spending twelve years at Chicago-based Midwest Mezzanine. At NewSpring, she founded the firm’s Chicago office before going on to establish the firm’s office in Denver.
With her promotion to partner, and with her experience sourcing, structuring, underwriting, and managing mezzanine and equity investments, Ms. Lee will continue executing NewSpring Mezzanine’s strategy of providing mezzanine debt and equity to lower-middle-market companies. Ms. Lee is a member of the boards of directors of several NewSpring portfolio companies including Beacon Manufacturing, SocialSEO, Domaille, Fabulous Floors, IQ Brands, Joneca Company, LOR-MAR, and MicroAge.
“Throughout my career, I’ve developed a passion for working with business owners at exciting, growing companies, and I’m thrilled to expand the NewSpring Mezzanine strategy alongside a team of experienced leaders that share this commitment,” said Ms. Lee. “I’m excited to put my skills to work in this elevated role as NewSpring Mezzanine continues its geographic expansion in pursuit of better serving a wider range of industries in locations across the United States.”
“The NewSpring Mezzanine team leverages a unique approach to investing that combines flexible capital solutions with deep operational expertise to provide our portfolio companies with a clear pathway to long-term growth on their own terms,” said Greg Barger, a general partner at New Spring. “By promoting from within, we’ve created a team with longevity and deep investment expertise. Adding Kristin’s 20-plus years of experience and relentless dedication to helping companies grow further strengthens our roster of partners and allows our team to remain focused on value creation and meeting portfolio companies’ needs in a wide array of markets.”
Headquartered near Philadelphia in Radnor, Pennsylvania, NewSpring is a provider of private equity capital through a family of funds including NewSpring Ventures, NewSpring Health, and NewSpring Mezzanine.
NewSpring Mezzanine invests in companies with at least $20 million of revenue and $2 million of EBITDA. NewSpring’s transaction types include unitranche, second lien, preferred equity, and equity co-investment and its sectors of interest include business and consumer services, niche manufacturing, distribution, and tech-enabled services.
In August 2021, NewSpring held a final close of its fourth mezzanine fund, NewSpring Mezzanine Capital IV LP (NSM IV), with $364 million of capital, the largest mezzanine fund the firm has ever raised. NSM IV is organized as a Small Business Investment Company (SBIC) fund and is the firm’s fifth SBIC license since its founding in 1999. To date, NSM IV has invested in 22 companies in geographies across the United States.
© 2021 Private Equity Professional | November 23, 2021
