Committed to partnership,
growth and lasting impact.

ABOUT

Flexible capital solutions for lower middle market companies

We provide flexible capital solutions and partner with talented management teams to help companies achieve their full potential.

We take a hands-on approach to help drive growth, market leadership, operational excellence, and strategic value for our partner companies.

0.5 billion
Under Management
0mm
Target Company Revenue
0
Platform Investments
0
Add-On Acquisitions

INVESTMENT CRITERIA

Our investment criteria: strong competitive position, significant growth potential, complexity welcomed

Gemspring provides flexible capital solutions to lower middle market companies headquartered primarily in the United States and Canada. We partner with industry leaders with growth potential that will benefit from our support and expertise. We do not shy away from complicated situations and have the ability to provide tailored capital solutions and support to drive growth and profit improvement.

Transaction Types

  • Corporate Carve-outs / Divestitures
  • Growth Equity
  • Leveraged Buyouts
  • Preferred Equity
  • Recapitalizations
  • Restructurings
  • Strategic Debt
  • Structured Equity

Value Creation

Prior to making an investment, we work alongside management to identify actionable opportunities for growth and operational improvement. In addition, we focus on removing structural complexities and other barriers that limit a company’s potential. Strategy and execution are unique to each company, but initiatives most often involve investing in talent and infrastructure, expanding into new markets, optimizing operations, and pursuing both strategic add-on acquisitions and larger transformational acquisitions.

Sector Focus

TEAM

An entrepreneurial team with a distinct culture

At Gemspring, we are entrepreneurs, problem solvers, and resources for whatever needs to get done. We are passionate about investing and driving value creation.

Our culture is based on shared values: collaboration and partnership, analytical rigor and intellectual honesty, integrity and lasting impact. We are privileged to serve our management teams, partner companies, investors, and communities.

Bret Wiener

Bret Wiener

Managing Partner
D.J. Andrzejewski

D.J. Andrzejewski

Managing Director
Malcolm Appelbaum

Malcolm Appelbaum

Managing Director
Geoff Broglio

Geoff Broglio

Managing Director
Ravdeep Chanana

Ravdeep Chanana

Managing Director
Charlie Fraas

Charlie Fraas

Managing Director
Don Gerne

Don Gerne

Managing Director
Aron Grossman

Aron Grossman

Managing Director
Zubin Malkani

Zubin Malkani

Managing Director
Jay Reynolds

Jay Reynolds

Managing Director
Alex Shakibnia

Alex Shakibnia

Managing Director
Matt Shuman

Matt Shuman

Managing Director
Russ Spieler

Russ Spieler

Managing Director
Kristin Steen

Kristin Steen

Managing Director
Jack Tucker

Jack Tucker

Managing Director
Dan Andrews

Dan Andrews

Principal
Michael Fan

Michael Fan

Principal
Chirag Hirawat

Chirag Hirawat

Principal
Kathy Calio

Kathy Calio

Director
Kerri Hagen

Kerri Hagen

Director
Courtney Hamlin

Courtney Hamlin

Director
John Lavin

John Lavin

Director
Connor O’Byrne

Connor O’Byrne

Director
Karl Rodger

Karl Rodger

Director
Matt Tharp

Matt Tharp

Director
Kelsey Curtis

Kelsey Curtis

Vice President
Howy Fang

Howy Fang

Vice President
Thomas Henry

Thomas Henry

Vice President
Reid Litowitz

Reid Litowitz

Vice President
Chris Lloyd

Chris Lloyd

Vice President
John Ross

John Ross

Vice President
Alex Crowe

Alex Crowe

Senior Associate
Stephen Reynolds

Stephen Reynolds

Senior Associate
James Simpson

James Simpson

Senior Associate
Kelley Weibezahl

Kelley Weibezahl

Senior Associate
Kenny Fitzpatrick

Kenny Fitzpatrick

Associate
Lucas Pulliza

Lucas Pulliza

Associate
Adrian Roth

Adrian Roth

Associate
Michelle Santos

Michelle Santos

Associate
Gardiner Schroeder

Gardiner Schroeder

Associate
Jaipal Silla

Jaipal Silla

Associate
Ed Stolarski

Ed Stolarski

Associate
Tatenda Zenenga

Tatenda Zenenga

Associate
Mike Baranowski

Mike Baranowski

Assistant Controller
Adrienne Cerulo

Adrienne Cerulo

Assistant Controller
Jordan Woessner

Jordan Woessner

Administrative Director
Amanda Groves

Amanda Groves

Executive Assistant

Bret Wiener

Managing Partner

Bret Wiener is the Founder and Managing Partner of Gemspring Capital and the Chairman of Gemspring’s Investment Committee. Bret’s experience spans a broad range of industries including business services, industrial services, distribution and logistics, aerospace, healthcare, insurance, specialty finance, media, technology, and software. Bret has invested across a range of company sizes and in a variety of transaction types including founder recaps, leveraged buyouts, take privates, corporate divestitures, restructurings, growth equity investments, and structured minority investments. Bret has been involved in over 80 acquisitions over the course of his career. The pace of change in the business environment is accelerating and Bret believes that a deep understanding of new technologies and disruptive business models is critical to selecting investments and leading traditional businesses through these challenges and opportunities.

Prior to founding Gemspring, Bret spent 11 years with H.I.G. Capital where he was the youngest Managing Director in H.I.G.’s history. Prior to joining H.I.G., Bret was with the Corporate Strategy Group at Microsoft where he focused on a range of strategic and operational initiatives. Before business school, Bret was in the investment banking division of Donaldson, Lufkin & Jenrette. During his time at NYU, he spent three years as a Research Associate at the predecessor of OrbiMed, a leading healthcare investment firm. Bret’s deep experience also includes earlier career stints as an institutional cook, a NYC messenger, and a telemarketing rep.

Bret serves on the Global Advisory Council of the Anti-Defamation League (ADL) and the Leadership Council of Grace Farms.

Bret received a BS, summa cum laude, from New York University and an MBA from Stanford University.

D.J. Andrzejewski

Managing Director

D.J. Andrzejewski is a Managing Director and member of the Investment Committee at Gemspring Capital. Prior to joining Gemspring, D. J. was a Partner at PeakEquity Partners, a private equity firm focused on investments in growth-stage software companies. In his eight years with PeakEquity, D. J. was responsible for all aspects of the investment process including sourcing, structuring, and executing new investments. D. J. served as a board member for several portfolio companies including EnterpriseDB, CareerArc, BERA and HighLevel. He was also involved in PeakEquity’s investments in G5 and Valiant Solutions.

Prior to PeakEquity Partners, D. J. worked on the investment team at Stripes, a New York-based growth equity firm with $7.7 billion in capital under management. At Stripes, D. J. sourced and executed investments across the software and technology sectors. D. J. began his career at Milestone Partners, a Philadelphia-based private equity firm, where he was focused on leveraged buyouts and recapitalizations of middle market businesses across various industries.

D.J. received a BA from the University of Pennsylvania and an MBA from the Wharton School at the University of Pennsylvania.

Sector Coverage:Software

Email D.J.:dj@gemspring.com

Malcolm Appelbaum

Managing Director

Malcolm Appelbaum is a Managing Director and the Chief Financial Officer and Chief Compliance Officer of Gemspring Capital. Prior to joining Gemspring, Malcolm served as an independent operating partner to H.I.G. and other private equity sponsors having founded a consulting practice, AppleTree Advisors, to assist middle-market and lower-middle market businesses achieve their profitability, growth and value objectives. As an operating partner, Malcolm served as interim CFO, restructuring specialist or due diligence and financial consultant on over a dozen H.I.G. portfolio companies from 2001-2015 as well as restructuring, acquisition and divestiture assignments for other lower-middle market private equity portfolio companies.

In addition, Malcolm previously served as the Chief Financial Officer of Globe Specialty Metals, a producer of silicon metal and silicon-based specialty alloys. Malcolm took the company public on NASDAQ and led the accounting, finance and technology teams, completing numerous acquisitions, effecting divestitures of non-core assets, completing several major debt financings and implementing SAP and SOX compliance. Earlier, Malcolm was a Partner at Wand Partners, a middle-market private equity firm, where he was responsible for a broad range of activities including sourcing, due diligence, portfolio company management and accounting & administration. Malcolm began his career as an Accountant at Deloitte and a Financial Analyst at Goldman Sachs.

Malcolm received a BS in Accounting from City University of New York – Brooklyn College and an MBA in finance from Columbia University. He is a Certified Public Accountant registered in New York.

Geoff Broglio

Managing Director

Geoff Broglio is a Managing Director and a member of the Investment Committee at Gemspring Capital. Geoff brings nearly two decades of investment, strategic and operational experience across business services, media and technology, industrials, distribution, transportation and logistics. He has invested in leveraged buyouts, growth equity investments, corporate divestitures, minority investments, asset acquisitions and recapitalizations, including leading more than 15 investments for Gemspring. Throughout his career, Geoff has been responsible for identifying and evaluating investment opportunities, structuring and negotiating transactions and partnering with management teams to drive operational and growth initiatives.

Prior to joining Gemspring, Geoff was a Principal with Kingswood Capital, a lower middle market private equity firm. Before that, Geoff was a Vice President at Hudson Capital Management and an Associate at First Reserve. Earlier in his career, Geoff was an Analyst in the financial sponsors group of Citigroup’s investment banking division.

Geoff serves on the boards of Crafty Apes, Shrieve Chemical Company, Wireless Vision and Transport Investments and previously served on the board of Therma Holdings.

Geoff received a BS in Business Information Technology and a BS in Finance from Virginia Tech.

Sector Coverage:Industrial Services
Media & Telecom

Email Geoff:geoff@gemspring.com

Ravdeep Chanana

Managing Director

Ravdeep Chanana is a Managing Director and a member of the Investment Committee at Gemspring Capital.

Prior to joining Gemspring, Rav was an executive at General Electric with experience working across eight countries and four different multi-billion dollar industrial and financial services business units. His most recent role was CFO of GE Additive, a new business unit within GE Aviation comprised of two strategic acquisitions completed in 2016. In this role, Rav was responsible for providing financial and operational leadership to drive the integration of the acquired companies. Prior to GE Additive, Rav was CFO of GE Aviation’s engineering organization and led a global finance team of ~70 employees where he was responsible for providing strategic and financial leadership for the ~$3 billion of annual research & development budget and ~8,000 person engineering organization.

Rav began his career in General Electric’s Financial Management Program (FMP). He completed roles in Corporate Finance, GE Capital headquarters, and GE Corporate Investor Relations. Rav then joined GE’s Corporate Audit Staff ultimately progressing to Executive Audit Manager responsible for GE Aviation, a $25 billion revenue business segment, and the Services Council, supporting a GE Vice Chairman in driving best practices and processes across all of GE’s services businesses.

Rav serves on the boards of JTI, Shrieve Chemical Company and Carr & Duff. In addition, Rav was formerly a board member of Radancy and Therma Holdings.

Rav received a BS in Finance and Accounting from Fairfield University.

Sector Coverage:Aerospace & Defense
Automotive
Business Services (Commercial, Industrial, Facility & Route-Based Services)

Email Rav:ravdeep@gemspring.com

Charlie Fraas

Managing Director

Charlie Fraas is a Managing Director and Head of Portfolio Operations at Gemspring Capital. Charlie has over 25 years of experience leading transformations and driving profit enhancement and has worked with over 50 clients executing projects across the strategic and operational spectrum including: strategic planning, post-merger integration, BPO / shared service adoption, robotics process automation, sourcing and procurement, supply chain network, lean manufacturing and ERP / technology implementation.

Prior to joining Gemspring, Charlie led a boutique advisory firm focused on operational transformation, profit enhancement, and restructuring / turnaround engagements in a variety of industries, including aviation, brokerage, distribution, healthcare, manufacturing, real estate, retail, services, and technology, for clients including H.I.G. Capital and TPG. He has held various transformation leadership and restructuring roles including Interim CEO, Interim President, Interim COO, Chief Restructuring Officer (CRO), and Chancery Court Trustee (Delaware).

Previously, Charlie held several roles at 1800flowers.com, including Sr. VP of Improvement, Sr. VP of Operations, and COO, as he oversaw all of the operations including call centers, distribution, transportation, sourcing and procurement, customer database marketing, and florist operations.

Prior to 1800flowers, Charlie started his career at Arthur Andersen and Deloitte Consulting, spending 13 years in various practices including audit, bankruptcy and transaction advisory, marketing analytics, operations, retail industry, strategy, supply chain, and several technology teams.

Charlie serves on the boards of Insurvia, Outform, and Skyline.

Charlie received a BS in Accounting from Binghamton University and is a Six Sigma Black Belt.

Email Charles:charles@gemspring.com

Don Gerne

Managing Director

Don Gerne is a Managing Director and a member of the Investment Committee at Gemspring Capital. For nearly two decades, Don has worked across a broad range of industries including business services, industrial services, environmental services, healthcare, consumer, retail, telecommunications, energy and infrastructure. During this time, Don has worked on leverage buyouts, corporate divestitures, founder recapitalizations, asset acquisitions and growth equity investments representing close to $2 billion of invested equity and $3 billion of funded debt in approximately 25 platforms and add-on acquisitions.

Prior to joining Gemspring, Don was a Partner at Metalmark Capital Partners. While at Metalmark, Don led all aspects of the investment process including origination, due diligence, legal documentation and transaction financing, in addition to collaborating with portfolio management teams to achieve value enhancement strategies. Don has served as a board member or observer for numerous companies, including WorldStrides, NNE, Monarch Midstream, MC2 Energy and Sebela Pharmaceuticals. Earlier in his career, Don worked at Greenhill Capital Partners, J.W. Childs Associates and Lehman Brothers.

Don serves on the boards of Mantis, Skyline, and Zavation.

Don received a BS in Mechanical Engineering from Yale University and an MBA from Harvard Business School.

Sector Coverage:Business Services (Professional Services)
Education

Email Donald:donald@gemspring.com

Aron Grossman

Managing Director

Aron Grossman is a Managing Director and a member of the Investment Committee at Gemspring Capital. Prior to joining Gemspring, Aron was a Principal with Rho Capital, a technology-focused private equity firm with $1.4 billion in capital under management, where he focused on the origination and execution of enterprise software investments.

Prior to Rho, Aron spent five years in operational roles with software businesses, most recently as Founder and CEO of Cleanshelf, a software expense management company he bootstrapped and merged with a competitive business. Previously, Aron was an executive at Voxy, a venture-backed education technology company, where in addition to being CFO, he played a central role in the sales, marketing and operations activities driving the company’s growth.

Earlier in his career, Aron focused on business services, healthcare and media / communications investments with Tailwind Capital, a middle-market private equity firm. Aron began his career as an investment banking Analyst with Houlihan Lokey.

Aron serves on the boards of AINS, Bobit, Cforia, GoldenSource, Sigga, and Valant.

Aron received a BA in Economics and Spanish from Emory University.

Sector Coverage:Software

Email Aron:aron@gemspring.com

Zubin Malkani

Managing Director

Zubin Malkani is a Managing Director and a member of the Investment Committee at Gemspring Capital. Prior to joining Gemspring, Zubin was a Managing Director at CI Capital Partners, a middle market private equity firm, where he worked for nearly a decade.  While at CI Capital, Zubin led investments in business services and consumer services companies, and served as a board member for numerous portfolio companies, including Hero Digital, PRA, SavATree, Total Fleet Solutions, and WTS International. Prior to CI Capital, Zubin was an Associate at GTCR, where he focused on middle market leveraged buyouts, and an investment banking Analyst at Goldman, Sachs & Co., where he advised clients on mergers, acquisitions, and corporate finance transactions.

Zubin has a BBA from the University of Michigan and a MBA from Harvard Business School.

Sector Coverage:Business Services
Industrial Services

Email Zubin:zubin@gemspring.com

Jay Reynolds

Managing Director

Jay Reynolds is a Managing Director and a member of the Investment Committee at Gemspring Capital. Prior to joining Gemspring, Jay was with The Riverside Company, a global private equity firm, where he worked for nearly a decade. While at Riverside, Jay was responsible for all aspects of the investment process, including sourcing, structuring and executing non-control investment opportunities, as well as post-investment collaboration with portfolio company management teams to implement growth plans.

Prior to Riverside, Jay was with Veronis Suhler Stevenson, a lower middle market private equity firm, where he executed control and non-control investments.  Jay began his career as an investment banking analyst in the Media & Telecommunications group at Merrill Lynch, where he worked on M&A, leveraged finance and equity capital transactions.

Jay received a BS in Business Administration, magna cum laude, from Washington & Lee University.

Alex Shakibnia

Managing Director

Alex Shakibnia is a Managing Director and a member of the Investment Committee at Gemspring Capital. Alex has extensive experience structuring and executing transactions across a broad range of industries.

Prior to joining Gemspring, Alex spent three years at Friedman Fleischer and Lowe, a San Francisco based middle-market private equity firm focused on executing both majority and minority growth equity investments. Alex began his career as an investment banking Analyst at Credit Suisse in Los Angeles where he focused on the execution of debt and equity transactions for companies in various sectors.

Alex serves on the boards of A10 Capital, Insurvia, Outform, Security 101, and United Group Programs.

Alex received BA in Business Economics and Mathematics, cum laude, from UCLA and an MA in Finance from Claremont McKenna College.

Sector Coverage:Financial & Insurance Services
Consumer Services

Email Alex:alex@gemspring.com

Matt Shuman

Managing Director

Matt Shuman is a Managing Director at Gemspring Capital. He is responsible for deal origination and leading the firm’s overall marketing and business development efforts.

Prior to joining Gemspring, Matt was with Northwestern Mutual. Previously, he ran the FX Prime Brokerage Sales efforts for Royal Bank of Scotland and Barclays Capital, where he was responsible for a broad range of activities, including business development, origination, contract negotiation and due diligence, and successfully led efforts in onboarding strategic relationships and rolling out new platforms for the banks’ Prime Brokerage businesses. Matt began his career as an Analyst on the Sales & Trading desks at JP Morgan in New York.

Matt received a BS in Finance from Syracuse University.

Russ Spieler

Managing Director

Russ Spieler is a Managing Director and a member of the Investment Committee at Gemspring Capital. Russ has 20 years of experience in private equity investing, strategic M&A, and driving operational improvements and has focused on diversified industrials including packaging, automotive, e-commerce and lab science.  Russ has executed over 15 acquisitions over the course of his career and has driven impactful post-closing operational and growth initiatives.  Russ complements his private equity investing experience with a decade of experience as an operations consultant.

Prior to joining Gemspring, Russ was a Managing Director at Heartwood Partners (formerly Capital Partners), a lower middle market private equity firm focused on making investments in management, family, and founder owned companies. While at Heartwood, Russ led all aspects of the investment process including origination, due diligence, structuring and transaction financing, in addition to driving portfolio company value enhancement strategies.  Prior to Heartwood Partners, Russ was Director at Black Diamond Capital Management.  Earlier in his career, Russ was a Director at AlixPartners and a Senior Consultant with Tigris Consulting.

Russ received a BS in Civil Engineering and a Masters of Engineering in Information Technology from the Massachusetts Institute of Technology (MIT).

Sector Coverage:Industrials
Manufacturing

Email Russ:russ@gemspring.com

Kristin Steen

Managing Director

Kristin Steen is a Managing Director and a member of the Investment Committee at Gemspring Capital. Prior to joining Gemspring, Kristin was a Managing Director at CCMP Capital, a middle market private equity firm. While at CCMP, Kristin was responsible for all aspects of the investment process including originating, evaluating, and executing investments, partnering with management teams to drive value creation, and serving on the boards of portfolio companies. She was involved in several of the firm’s investments including Eating Recovery Center, The Hillman Group, Truck Hero and other companies in the consumer, specialty manufacturing and services sectors. Prior to joining CCMP in 2011, Kristin worked for both Lone Star Funds and HBK Capital Management.

Kristin holds a BS in Commerce from the McIntire School of Commerce at the University of Virginia.

Sector Coverage:Consumer Services

Email Kristin:kristin@gemspring.com

Jack Tucker

Managing Director

Jack Tucker is a Managing Director and the Chief Operating Officer at Gemspring Capital. He is focused on Investor Relations, ESG Initiatives, Business Development, and Recruiting.

Prior to joining Gemspring, Jack was a Partner at Acalyx Advisors where he raised capital from institutional investors for private equity funds. At Acalyx, Jack was involved in several milestone fundraisings in the buyout and growth segments. Jack also worked on a number of advisory mandates with general partners and helped develop and execute marketing strategies to assist general partners with ongoing investor relationship management. Jack began his career at MVision Private Equity Advisers, where he worked with general partners across the US and Europe.

Jack holds a BA from the University of Delaware.

Dan Andrews

Principal

Dan Andrews is a Principal at Gemspring Capital and focuses on structured investment opportunities. Dan brings over a decade of investing experience across various strategies in both public and private credit markets.

Prior to joining Gemspring, Dan was at Moab Partners, a value-oriented hedge fund, where he focused on special situations and event-driven investment opportunities. During his time at Moab, Dan invested in a wide array of credit products and focused on structured direct lending financings.

Earlier in his career, Dan was a Vice President at Morgan Stanley Credit Partners, a $1 billion credit opportunities fund within the Merchant Banking Division of Morgan Stanley. Dan was part of a team responsible for investing both outside investor funds and Morgan Stanley capital, focusing on complex direct lending situations and stressed liquid credit opportunities. Dan began his career in the investment banking group of Robinson Humphrey and also spent time at MCG Capital, a publicly traded private equity and debt investment firm where he executed middle market investments across the capital structure and served as a portfolio company board director.

Dan received a BS in Commerce from the McIntire School of Commerce at the University of Virginia and an MBA from Columbia Business School.

Michael Fan

Principal

Michael Fan is a Principal at Gemspring Capital and focuses on investments in software. Michael has more than a decade of experience in sourcing and executing transactions in the technology sector, as well as operating experience from founding and leading a digital media business.

Prior to joining Gemspring, Michael was at Rubicon Technology Partners, an enterprise software focused private equity firm. Michael has also held roles within private equity at York Capital and Bain Capital, primarily focusing on technology investments. In these roles Michael has collaborated with management teams to execute strategic initiatives and served as a board director for multiple portfolio companies. Earlier in his career, Michael was the founder and CEO of a digital media business focused on car safety and worked as a technology investment banking Analyst at Morgan Stanley.

Michael serves on the board of AINS, GoldenSource, and Sigga Technologies.

Michael received a BA in Economics with a minor in Computer Science from Stanford University and an MBA from Harvard Business School.

Sector Coverage:Software

Email Michael:michael@gemspring.com

Chirag Hirawat

Principal

Chirag Hirawat is a Principal at Gemspring Capital. Prior to joining Gemspring, Chirag was a Vice President at BlackIvy Group, a US-based holding company that owns and operates essential services businesses in Sub-Saharan Africa. Prior to BlackIvy, Chirag was a Vice President at Golden Gate Capital, a $15 billion AUM private equity firm, where he evaluated and executed new investments and monitored portfolio companies in the consumer and software sectors. Chirag began his career as an investment banking Analyst at Goldman Sachs where he focused on leveraged finance transactions for private equity and corporate clients.

Chirag serves on the board of Zavation.

Chirag received a BA in International Relations, magna cum laude, from New York University.

Kathy Calio

Director

Kathy Calio is the Director of Operations at Gemspring Capital. Prior to joining Gemspring, Kathy was a Director in central management at Deutsche Bank in their Investment Banking division. She supported the Real Estate, Financial Sponsors and Financial Institutions groups in the Americas as their COO and worked closely with senior management in the day-to-day operations of these businesses. Prior to joining Deutsche Bank, Kathy practiced corporate law at Davis Polk & Wardwell in New York, rotating through M&A and Capital Markets before specializing in Investment Management.

Kathy began her career as an investment banking Analyst at Morgan Stanley in the Real Estate, Gaming, Lodging and Leisure group in New York and Milan.

Kathy received a BA in History, summa cum laude, from Princeton University and a JD from Columbia Law School where she was a Harlan Fiske Stone Scholar.

Kerri Hagen

Director

Kerri Hagen is a Director of Business Development at Gemspring Capital. She is responsible for sourcing new investments and driving the firm’s marketing and business development efforts.

Prior to joining Gemspring, Kerri was a Senior Business Development Consultant at Axial, where she assisted in the deal sourcing and M&A efforts of middle market private equity firms, family offices and lenders. Prior to joining Axial, Kerri served as Vice President of Corporate Access at The Buckingham Research Group, where she helped develop the firm’s communication platform between publicly traded companies and institutional investors. Earlier in her career, Kerri assisted the research, sales, and trading functions of investment banks while at Ipreo, a portfolio company of Blackstone and Goldman Sachs.

Kerri received a BA in Communications, summa cum laude, from the University of Michigan. She currently serves on ACG NY’s Women of Leadership Committee.

Courtney Hamlin

Director

Courtney Hamlin is a Director at Gemspring Capital focused on Investor Relations and ESG Initiatives.

Prior to joining Gemspring, Courtney was a member of the Investor Relations team at Corsair Capital where she specialized in buyout and infrastructure strategies.  Prior to Corsair, she was a Vice President at Acalyx Advisors where she was involved in a number of fundraisings in the buyout, growth, and credit segments. Courtney began her career at GLG where she supported general partners in their origination, diligence, and value creation activities.

Courtney holds a BA from the University of St Andrews.

Email Courtney:courtney@gemspring.com

John Lavin

Director

John Lavin is a Director of Business Development at Gemspring Capital. He is responsible for sourcing new investments and driving the firm’s marketing and business development efforts. Prior to joining Gemspring, John spent eight years at Lincoln International, a global middle market investment bank, where he focused on sourcing founder-owned businesses and facilitating private transactions. Before Lincoln International, John worked at Merrill Lynch and he spent three years on Capitol Hill working for the House of Representatives.

John received a BA from Creighton University, an MA in Accounting from the University of Illinois and an MBA from the University of Chicago, Booth School of Business.

Connor O’Byrne

Director

Connor O’Byrne is a Director of Business Development at Gemspring Capital. He is responsible for deal origination and driving the firm’s marketing and business development efforts.

Prior to joining Gemspring, Connor spent a combined six years sourcing investment opportunities for StoneCalibre and Skyview Capital, two privately funded investment firms in Los Angeles.

Connor received a BBA in Finance, with a concentration in European Economics from James Madison University.

Karl Rodger

Director

Karl Rodger is a Director of Business Development at Gemspring Capital, where he plays an active role in sourcing transactions, executing new investments, and working alongside portfolio company management teams. Karl also leads the Capital Markets initiative at Gemspring and actively manages the firm’s relationships with a variety of lending partners. Throughout his career investing in the middle market, Karl has completed over 20 leveraged buyouts, corporate divestitures, founder recaps and transformational add-on acquisitions, and collaborated with management teams to develop and execute strategies that have driven growth in revenue and profitability.

Prior to joining Gemspring, Karl was a Vice President with Spire Capital Partners, an operationally oriented lower middle market private equity firm focused on technology, communications, media, and education services. Prior to Spire Capital, Karl with Dubin Clark & Company, a lower middle market private equity firm focused on investments in the business services, light manufacturing, and B2C rental industries. Earlier in his career, Karl spent time at The Riverside Company, where he helped invest out of the $1.2 billion North American fund. Karl began his career as an Analyst with Harris Williams & Co., where he helped execute middle market M&A transactions.

Karl received a BA, magna cum laude, from Vanderbilt University and an MBA from the Fuqua School of Business at Duke University.

Matt Tharp

Director

Matt Tharp is a Director of Portfolio Operations at Gemspring Capital. Matt has worked with over a dozen companies across a broad range of transformational initiatives including broad go-to-market strategies, sales effectiveness and enablement, holistic marketing transformation, operational excellence, organizational restructuring, merger management, product road mapping, and procurement/sourcing.

Prior to joining Gemspring, Matt was part of Vista Consulting Group, the operating arm of Vista Equity Partners. Matt served as a Value Creation Director at Vista, helping to design and implement the value creation agenda with a variety of Vista’s portfolio companies. In addition, Matt served as an operating executive within Vista’s portfolio, most notably as a Vice President at Fusion Risk Management, a business continuity SaaS business.

Prior to Vista, Matt was a consultant at McKinsey & Company, where he led large scale commercial transformations for McKinsey’s clients. Prior to McKinsey, Matt served in several direct sales roles, primarily in the medical device industry. Matt also served as a Captain in the United States Marine Corps. In the Marines, Matt served as an Amphibious Assault Officer, and led teams ranging from 40-200 Marines.

Matt serves on the boards of Sigga, Cforia and AINS.

Matt received a BA in Political Science and History from the University of Illinois at Urbana-Champaign and an MBA from the Kelley School of Business at Indiana University.

Sector Coverage:Software

Email Matt:mtharp@gemspring.com

Kelsey Curtis

Vice President

Kelsey (Lozier) Curtis is a Vice President of Business Development at Gemspring Capital. She is responsible for deal origination and driving the firm’s marketing and business development efforts.

Prior to joining Gemspring, Kelsey led business development and marketing efforts at Silver Oak Services Partners, a Chicago-based private equity firm focused on business, healthcare, and consumer services companies. Kelsey began her career on the investment team at Speyside Equity, a lower middle market private equity firm based in Detroit, where she focused on manufacturing and industrials.

Kelsey received a BA in Financial Management and Spanish from Hillsdale College.

Howy Fang

Vice President

Howy Fang is a Vice President at Gemspring Capital. Prior to joining Gemspring, Howy was a Business Analyst with McKinsey & Company, where his client work centered around strategic growth initiatives, sales & marketing practices, and enterprise transformations.

Howy serves on the boards of Bobit, JTI, Security 101, and Transport Investments.

Howy received a BA in Economics from the University of Chicago.

Thomas Henry

Vice President

Thomas Henry is a Vice President at Gemspring Capital. Prior to Gemspring, Thomas was an Associate at Palladin Consumer Retail Partners, a Boston-based private equity firm focused on control buyouts and growth investments in lower middle market consumer products and specialty retail businesses. While at Palladin, Thomas focused on evaluating and executing transactions and portfolio management initiatives at the fund level, and also spent a year embedded full-time within KT Health, a Palladin portfolio company, to drive operational value creation. Thomas began his career as an investment banking Analyst with Wells Fargo Securities, where he executed M&A and leveraged finance transactions across a range of industries.

Thomas received a BS in Business Administration from the University of Southern California’s Marshall School of Business and an MBA from Northwestern University’s Kellogg School of Management.

Reid Litowitz

Vice President

Reid Litowitz is a Vice President at Gemspring Capital. Prior to Gemspring, Reid was the Chief of Staff to the CEO and then the Senior Director of Business Intelligence at VelocityEHS, a Chicago-based software provider to the Environmental, Health & Safety market. Prior to VelocityEHS, Reid was an Investment Executive at CVC Growth Partners, a New York-based growth equity firm investing in vertical software companies. Reid began his career as an investment banking Analyst with Harris Williams, a sell-side M&A advisor to middle market businesses.

Reid received a BS in Finance from the University of Virginia.

Chris Lloyd

Vice President

Chris Lloyd is a Vice President at Gemspring Capital. Prior to joining Gemspring, Chris was a Senior Associate at American Securities, a New York based private equity firm with more than $26 billion under management. At American Securities, Chris focused on the evaluation and execution of buyout and strategic add-on investments across multiple sectors including industrials, business services, and consumer.

Prior to American Securities, Chris was an investment banking Analyst in the Mergers and Acquisitions group at J.P. Morgan where he focused on strategic and sponsor-related M&A across a variety of industries and geographies.

Chris received a BS in Accountancy from Brigham Young University.

John Ross

Vice President

John Ross is a Vice President at Gemspring Capital. Prior to joining Gemspring, John was with Black Diamond Capital Management, a $9 billion alternative asset management firm where he focused on the evaluation and execution of distressed private equity investments and was deeply involved in the turnaround of companies post-acquisition.

Prior to Black Diamond, John was an Associate at Irving Place Capital Management, a middle market private equity firm, where he was responsible for the analysis of new investment opportunities, due diligence, and monitoring of existing portfolio companies. John began his career as an investment banking Analyst at Bank of America Merrill Lynch where he focused on the execution of M&A transactions across a broad range of industries and geographies.

John serves on the board of Cforia.

John received a BA in Economics and Government, cum laude, from Dartmouth College and an MBA from the Tuck School of Business at Dartmouth, where he was an Edward Tuck Scholar.

Alex Crowe

Senior Associate

Alex Crowe is a Senior Associate at Gemspring Capital. Previously, Alex was a Senior Associate at Pine Brook Partners, a middle market private equity firm based in New York. At Pine Brook, Alex evaluated and executed investment opportunities primarily within the financial services sector. Prior to joining Pine Brook, Alex worked as an investment banking Analyst at Citigroup, executing M&A and capital markets transactions for a variety of firms within the financial institutions industry.

Alex earned a BS in Finance from Indiana University.

Stephen Reynolds

Senior Associate

Stephen Reynolds is a Senior Associate focused on software investments at Gemspring Capital. Prior to joining Gemspring, Stephen was an Associate at Accel-KKR, an enterprise software focused private equity firm. Prior to Accel-KKR, Stephen was an investment banking Associate at MVP Capital (now part of Houlihan Lokey) delivering financing and M&A advisory services to lower middle market software and IT services businesses. Stephen began his career as an Analyst in the Energy Group at Bank of America Merrill Lynch.

Stephen holds a BS in Finance from Santa Clara University.

Email Stephen:stephen@gemspring.com

James Simpson

Senior Associate

James Simpson is a Senior Associate at Gemspring Capital. Prior to joining Gemspring, James worked at Gallant Capital, a Los-Angeles based private equity firm. At Gallant, James focused on the evaluation and execution of control and non-control investments across a range of industries, with focuses in the aerospace & defense and business services sectors. Prior to joining Gallant, James worked as an Investment Banking Analyst at Centerview Partners, where he focused on M&A, restructuring and activist defense mandates across a range of industries, and as a paralegal at Latham & Watkins.

James received an MA from the University of Cambridge.

Kelley Weibezahl

Senior Associate

Kelley Weibezahl is a Senior Associate at Gemspring Capital. Prior to joining Gemspring, Kelley was an Associate at Cortec Group, a middle market private equity firm based in New York. At Cortec, Kelley focused on the evaluation and execution of buyout and strategic add-on investments across a range of industries. Prior to Cortec, Kelley worked as an investment banking Analyst at Piper Sandler where she focused on strategic and sponsor-related M&A within the healthcare services sector. Kelley began her career in PriceWaterhouseCoopers’ Deal Advisory practice.

Kelley received a BS in Accounting and Finance from Lehigh University.

Kenny Fitzpatrick

Associate

Kenny Fitzpatrick is an Associate at Gemspring Capital. Prior to joining Gemspring, Kenny worked as an investment banking Analyst in the Global Industrials Group at Bank of America, where he advised industrial clients on M&A, leveraged buyouts, and capital raising activities.

Kenny received a BBA in Finance from the University of Notre Dame.

Lucas Pulliza

Associate

Lucas Pulliza is an Associate at Gemspring Capital. Prior to joining Gemspring, Lucas was a consultant at Boston Consulting Group and focused on commercial and vendor due diligence across a range of industries on behalf of private equity investors.
 
Lucas received a BA with distinction in Politics and a MS in Business Analytics from the University of Virginia where he was also an Echols Scholar.

Adrian Roth

Associate

Adrian Roth is an Associate at Gemspring Capital. Prior to joining Gemspring, Adrian was an investment banking Analyst in the Financial Restructuring Group at Houlihan Lokey in Los Angeles. While at Houlihan Lokey, Adrian worked on several engagements across a range of industries involving in-court and out-of-court restructurings, M&A mandates (buy-side, sell-side, and SPAC), and capital raises.

Adrian received a BS in Financial Actuarial Mathematics, cum laude, from UCLA.

Michelle Santos

Associate

Michelle Santos is an Associate at Gemspring Capital. Prior to joining Gemspring, Michelle was an investment banking Analyst in the Mergers & Acquisitions group at Bank of America Merrill Lynch in New York. While at Bank of America Merrill Lynch, Michelle focused on transaction advisory across a range of industries.

Michelle received a BA in Economics and Psychology from Yale University.

Email Michelle:michelle@gemspring.com

Gardiner Schroeder

Associate

Gardiner Schroeder is an Associate at Gemspring Capital. Prior to joining Gemspring, Gardiner was an Associate at Re:Build Manufacturing, an investment holding company in Boston. At Re:Build, Gardiner focused on the evaluation and execution of investments across the aerospace & defense, industrial technology, and biotechnology sectors. Prior to joining Re:Build, Gardiner was an investment banking Analyst in the Mergers & Acquisitions Group at Alantra where he focused on transaction advisory across a range of industrial verticals.

Gardiner received a BS in Finance, cum laude, from Bentley University.

Jaipal Silla

Associate

Jaipal Silla is an Associate at Gemspring Capital. Prior to joining Gemspring, Jaipal worked as an investment banking Analyst at Alkali Partners, where he focused on M&A and capital markets transactions for middle market companies within the technology industry.

Jaipal received a BA in Finance and a BS in Computer Science from the University of Florida.

Ed Stolarski

Associate

Ed Stolarski is an Associate at Gemspring Capital. Prior to joining Gemspring, Ed was an investment banking Analyst in the Financial Institutions group at Bank of America Merrill Lynch, where he developed detailed financial analyses for companies within the financial technology verticals, including software, data & analytics, trading platforms, investment services, and payments.

Ed received a BA in Economics from Yale University.

Tatenda Zenenga

Associate

Tatenda Zenenga is an Associate at Gemspring Capital. Prior to joining Gemspring, Tatenda was an investment banking Associate in the Healthcare Services group at SVB Securities in New York. While at SVB Securities, Tatenda focused on all aspects of originating, structuring, and executing public equity and M&A transactions. Prior to SVB Securities, Tatenda was an investment banking Analyst at H.C. Wainwright & Co., where he focused on Life Sciences ECM transactions.

Tatenda received a BS in Finance & Business Economics and an MS in Finance & Investment Management from Sacred Heart University.

Email Tatenda:Tatenda@gemspring.com

Mike Baranowski

Assistant Controller

Mike Baranowski is an Assistant Controller at Gemspring Capital. Prior to joining Gemspring, Mike was the Senior Manager of Hedge Operations at Aberdeen Standard Investments, an international investment manager spanning a wide range of asset classes. While at Aberdeen, Mike helped to oversee the fund accounting, operations, and compliance for multiple investment funds totaling over $5.5 billion in AUM. Prior to Aberdeen, Mike was an Assistant Controller at Forester Capital, LLC, a fund-of-funds, and an Auditor at Deloitte, where he served a variety of clients in the financial services industry.

Mike received a BS in Accounting from Fairfield University.

Adrienne Cerulo

Assistant Controller

Adrienne Cerulo is the Assistant Controller at Gemspring Capital. Prior to joining Gemspring, Adrienne was the Controller at Longroad Asset Management, a private equity firm focused on acquiring controlling positions in financially distressed companies. While at Longroad, Adrienne handled management company and fund accounting duties in addition to assisting with limited partner relationships. Prior to Longroad, Adrienne held other accounting positions at Weston Capital Management, a fund-of-funds, and UBS Investment Bank, where she supported their Fixed Income group.

Adrienne received an MS and BS in Accounting, summa cum laude, and an MBA from the University of Connecticut. She is a Certified Public Accountant registered in the State of Connecticut.

Email Adrienne:adrienne@gemspring.com

Jordan Woessner

Administrative Director

Jordan Woessner is the Administrative Director at Gemspring Capital. Prior to joining Gemspring, Jordan worked closely with the Founding Principal of Roger Ferris + Partners. Previously, Jordan supported the CEO and three Managing Directors on the Investor Relations team for Z Capital Group, a $5 billion AUM private equity firm based in NYC.

Jordan began her career supporting Human Resource Executives in the entertainment industry.

Jordan received a BS in Business Management from The University of New Haven.

Amanda Groves

Executive Assistant

Amanda Groves is an Executive Assistant at Gemspring Capital. Prior to joining Gemspring, Amanda worked as a personal assistant to various families for several years.

Amanda graduated from Lincoln Technical Institute with honors.

INVESTMENTS

A10 Capital

A10 Capital

AINS

AINS

Bobit Business Media

Bobit Business Media

Carr & Duff Electrical Construction logo

Carr & Duff

Cforia

Cforia

Crafty Apes

Crafty Apes

Golden Source logo

GoldenSource

Insurvia logo

Insurvia, LLC

JTI logo

JTI

Mantis Innovation

Mantis

Outform

Radancy

Radancy

Security 101

Shrieve Chemical Company

Shrieve Chemical Company

Sigga

Sigga Technologies

Skyline

Skyline Displays

Therma

Therma Holdings

TII Transport Investments, Inc.

Transport Investments

United Group Programs

United Group Programs

Valant Medical Solutions

Valant Medical Solutions

Wireless Vision

Wireless Vision

Zavation

Zavation

A10 Capital

Status: Active
Sector: Financial Services
Investment Date: May 2018
HQ: Boise, ID
www.a10capital.com

A10 is a leading provider of commercial real estate mortgage solutions in the United States. A10’s broad offering of transitional and permanent loan products covers the entire commercial property life cycle and borrowers benefit from A10’s full-service platform, which includes in-house underwriting, legal, and servicing.

Please contact Alex Shakibnia (alex@gemspring.com) for add-on acquisition opportunities.

AINS

Status: Active
Sector: Software
Investment Date: November 2021
HQ: Gaithersburg, MD
www.ains.com

AINS is a leading provider of case management software solutions and IT services for government agencies and other public sector organizations. AINS’s software enables organizations to streamline and automate workflows across a wide variety of use cases, spanning FOIA (Freedom of Information Act), audits, investigations, human resources, and contract management.

Please contact Michael Fan (michael@gemspring.com) for add-on acquisition opportunities.

Bobit Business Media

Status: Active
Sector: Business Services
Investment Date: November 2018
HQ: Torrance, CA
www.bobitbusinessmedia.com

Bobit Business Media is a leading provider of digital media and marketing solutions, events and print media. The company has a leading market position in each of the niche verticals it operates – fleet, transportation, beauty and law enforcement – serving a large customer base of over 1,700 B2B marketers. By leveraging its deep and entrenched audience, proprietary database and strong editorial capabilities, Bobit delivers highly targeted marketing solutions to each of its customers.

Please contact Aron Grossman (aron@gemspring.com) for add-on acquisition opportunities.

Carr & Duff

Status: Active
Sector: Industrial Services
Investment Date: March 2022
HQ: Huntingdon Valley, PA
www.carrduff.com

Carr & Duff is a leading specialty electrical services provider of value added electrical construction and maintenance services to commercial, institutional, utility and industrial clients. Through 60+ years of business history, the Company has built a trusted reputation for tackling complex electrical contracting projects in the Greater Philadelphia area and throughout the East Coast.

Please contact Rav Chanana (ravdeep@gemspring.com) for add-on acquisition opportunities.

Cforia

Status: Active
Sector: Software
Investment Date: July 2020
HQ: Westlake Village, CA
www.cforia.com

Cforia is a leading provider of order-to-cash automation software focused on improving collections and cash management for B2B customers globally. The Cforia platform was designed to help companies accelerate the conversion of accounts receivable to cash in order to better manage credit exposure and reduce cost of capital and expense. Cforia’s success has been driven by superior technology that leverages proprietary, real-time data integration tools that work across complex and disparate ERP systems.

Please contact Aron Grossman (aron@gemspring.com) for add-on acquisition opportunities.

Crafty Apes

Status: Active
Sector: Tech-Enabled Services
Investment Date: October 2019
HQ: Los Angeles, CA
www.craftyapes.com

Crafty Apes is a full-service visual effects company with studios in Los Angeles, Atlanta and New York. Crafty Apes provides set supervision, VFX consultation, 2D and 3D compositing, digital cosmetics and computer-generated imagery to film, episodic and commercial video production customers.

Please contact Geoff Broglio (geoff@gemspring.com) for add-on acquisition opportunities.

GoldenSource

Status: Active
Sector: Software
Investment Date: May 2022
HQ: New York, NY
www.thegoldensource.com

GoldenSource is a provider of Enterprise Data Management (EDM) and Master Data Management (MDM) solutions for financial services customers.  GoldenSource’s offerings help some of the world’s largest and most prominent investments banks, asset managers, and capital markets services firms manage and derive insights from their data, including equity and debt securities, customers, entities, and other data types.

Please contact Michael Fan (michael@gemspring.com) for add-on acquisition opportunities.

Insurvia, LLC

Status: Active
Sector: Insurance Services
Investment Date: October 2018
HQ: Las Vegas, NV
www.insurvia.com

Insurvia is an insurance services holding company with subsidiaries including Fiesta Insurance a retail franchisor of insurance products and services with 235 locations across nine states and a growing eCommerce platform, La Familia Agency which operates 67 retail stores across Texas, and Bravo General an MGA with an omnichannel distribution strategy serving the automotive market.

Please contact Alex Shakibnia (alex@gemspring.com) for add-on acquisition opportunities.

JTI

Status: Active
Sector: Facility Services
Investment Date: December 2021
HQ: Bakersfield, CA
www.jtielectric.com

JTI is a full-service, design-build mechanical and electrical solutions provider that focuses on complex agricultural processing systems, high and medium voltage electric systems, and bespoke, fully-integrated panels and process controls. Primary customers are in the agribusiness, food and beverage, energy, building products, and heavy manufacturing industries. Services include design, engineering, installation, maintenance, and specialty fabrication of electrical and mechanical systems for industrial processing applications.

Please contact Ravdeep Chanana (ravdeep@gemspring.com) for add-on acquisition opportunities.

Mantis

Status: Active
Sector: Facility Services
Investment Date: December 2021
HQ: Houston, TX
www.mantisinnovation.com

Mantis is a tech-enabled service provider that works with customers to deliver better building performance and improved energy efficiency. The company offers a full suite of services, including: energy procurement and demand management; solar, roofing, building envelope, and pavement, design, assessment and maintenance; and LED lighting, HVAC/mechanical and building automation systems implementation.

Please contact Don Gerne (donald@gemspring.com) for add-on acquisition opportunities.

Outform

Status: Active
Sector: Business Services
Investment Date: July 2019
HQ: Chicago, IL
www.outform.com

Outform (f/k/a Rapid Displays) is a leading provider of technology infused, end-to-end custom merchandising solutions for point-of-purchase displays, including creative design, engineering, prototyping, production, and logistics. Outform serves a diverse range of retailers and consumer brands, and the Company’s international footprint throughout the U.S. as well as in Europe, Israel, and China enables a one-stop global execution for customers.

Please contact Alex Shakibnia (alex@gemspring.com) for add-on acquisition opportunities.

Radancy

Status: Acquired by an affiliate of New Mountain Capital. Gemspring maintains a minority investment in the business.
Sector: Software and Tech Enabled Services
Investment Date: April 2018
HQ: New York, NY
www.radancy.com

Radancy (f/k/a TMP Worldwide) is a global talent technology leader focused on intelligently solving the most critical challenges for employers and delivering results that strengthen their organizations. Through its unified Platform, augmented by rich data and deep industry expertise, Radancy is revolutionizing how employers attract and hire the talent they need.

Please contact Ravdeep Chanana (ravdeep@gemspring.com) for add-on acquisition opportunities.

Security 101

Status: Active
Sector: Facility Services
Investment Date: December 2021
HQ: West Palm Beach, FL
www.security101.com

Security 101 is a leading provider of integrated security solutions to a diverse set of customers. The Company delivers a full-service offering of security services and products including the design, installation, and maintenance of access control, video surveillance, intrusion detection, and visitor management solutions. Security 101 has a national presence and focuses on key end markets including healthcare, education, critical infrastructure, government and commercial facilities.

Please contact Alex Shakibnia (alex@gemspring.com) for add-on acquisition opportunities.

Shrieve Chemical Company

Status: Active
Sector: Industrial Services
Investment Date: December 2019
HQ: The Woodlands, TX
www.shrieve.com

Shrieve is a value-added marketer of industrial chemicals, performance fluids and specialty lubricants. The company markets and sells over 700 products into more than 40 countries with support from manufacturing and research and development facilities in North America and Asia. Since its founding in 1978, Shrieve has been known for its market knowledge, consistency of supply, exceptional customer support and service, broad product slate and logistics capabilities.

Please contact Geoff Broglio (geoff@gemspring.com) for add-on acquisition opportunities.

Sigga Technologies

Status: Active
Sector: Software
Investment Date: December 2020
HQ: Sugar Land, TX
www.sigga.com

Sigga is a leading provider of Enterprise Asset Management (“EAM”) software, offering a comprehensive suite of solutions that fully integrate with SAP and enable asset-intensive businesses to more efficiently manage their maintenance and repair operations. Sigga’s success has been driven by its superior, purpose-built technology that is designed to directly address the needs of maintenance personnel and has been refined through Sigga’s two decades of experience in the EAM space.

Please contact Aron Grossman (aron@gemspring.com)  for add-on acquisition opportunities.

Skyline Displays

Status: Active
Sector: Business Services
Investment Date: January 2020
HQ: Eagan, MN
www.skyline.com

Skyline Displays is a leading provider of displays, exhibits and services for trade shows and large corporate events. It is a vertically integrated business with exhibit and display design and manufacturing capabilities as well as asset management, installation and dismantling, and equipment rental services. Skyline’s customers are seamlessly served across the United States and internationally through its network of more than 75 locations, including 27 Skyline-owned retail centers, four regional service centers, and 45 independent dealers.

Please contact Don Gerne (donald@gemspring.com) for add-on acquisition opportunities.

Therma Holdings

Status: Realized. Acquired by an affiliate of The Blackstone Group.
Sector: Facility Services
Investment Date: June 2017
HQ: San Jose, CA
www.therma.com

Therma Holdings is a full-service, design-build mechanical and electrical solutions provider that focuses on complex HVAC systems, high purity process piping and process controls. Primary customers are in the bio-pharmaceutical, semiconductor, data center, electronics, education and internet/software industries. Services include design, installation and maintenance of HVAC and energy efficiency systems, piping for water, gas, lab waste, compressed air and other processes, air balancing, modular skids, building information modeling and custom fabrication.

Transport Investments

Status: Active
Sector: Industrial Services
Investment Date: May 2021
HQ: Pittsburgh, PA
www.transportinvestments.com

Transport is an asset-light transportation and logistics company. As one of the largest carrier groups in the United States and Canada, Transport offers heavy haul, flatbed, specialty and van transportation, brokerage and logistics services. The Company currently handles an annual volume of over 250,000 loads and is positioned to capture substantial growth through its network of nationwide terminals, owner-operators and carriers.

Please contact Geoff Broglio (geoff@gemspring.com) for add-on acquisition opportunities.

United Group Programs

Status: Active
Sector: Insurance Services
Investment Date: December 2016
HQ: Newtown, PA
www.ugpinc.com

United Group Programs is a Third-Party Administrator (“TPA”) and Managing General Agent (“MGA”) that designs, markets, and administers healthcare benefit products and services including gap, limited medical, minimum essential coverage and self-funded major medical. Established in 1968, the company has a long track record of offering comprehensive solutions and industry-leading service to brokers and employer groups.

Please contact Alex Shakibnia (alex@gemspring.com) for add-on acquisition opportunities.

Valant Medical Solutions

Status: Active
Sector: Software
Investment Date: April 2019
HQ: Seattle, WA
www.valant.com

Valant is a leading provider of electronic health record and practice management software for the behavioral health market. Built with the specific needs of mental health professionals in mind, the company’s cloud-based software enables practitioners to efficiently schedule, document, and bill patients from a single, seamlessly integrated offering. Valant serves over 2,000 private practices and 12,000 behavioral health professionals across the United States.

Please contact Aron Grossman (aron@gemspring.com) for add-on acquisition opportunities.

Wireless Vision

Status: Active
Sector: Business Services
Investment Date: December 2020
HQ: Bloomfield Hills, MI
www.wirelessvision.com

Wireless Vision is the largest T-Mobile Exclusive Retailer in the country, operating more than 600 T-Mobile-branded retail stores in 27 states. Established in 2004 and based in Bloomfield Hills, Michigan, the company is dedicated to providing the finest-quality products and highest level of service to its customers.

Please contact Geoff Broglio (geoff@gemspring.com) for add-on acquisition opportunities.

Zavation

Status: Active
Sector: Healthcare
Investment Date: June 2021
HQ: Flowood, MS
www.zavation.com

Headquartered in Flowood, Mississippi, Zavation designs and manufactures a comprehensive portfolio of spinal hardware and biologics that provide medical solutions to improve and enhance quality of life for patients around the world. The company serves nearly 400 hospitals and ambulatory surgical centers through a network of over 300 distributors and approximately 100 employees.

Please contact Don Gerne (donald@gemspring.com) for add-on acquisition opportunities.