Industry Updates

Wellspring Capital Management makes round of promotions following solid first half

Monday, July 29, 2024

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Opalesque Industry Update - Wellspring Capital Management Group LLC a leading New York-based middle market private equity firm, announced the promotion of Ryan Dowd to Partner, Blake Briscoe to Vice President and Thomas Kingshott to Senior Associate.

The promotions follow an extremely active first half of 2024, which has included:

The consummation of a $975mm multi-asset continuation fund in partnership with Lexington Partners, Neuberger Berman, Hamilton Lane and AltamarCam to acquire three assets, Supply One, Cadence and Pentec Health from Wellspring Capital Partners VI, L.P
The formation of a ~$120mm single asset continuation fund led by NorthSands Capital to acquire the interest of several Supply One legacy co-investors
Two platform investments in the multi-unit franchisor and fitness sectors, representing approximately $210mm of aggregate invested capital from Fund VI
Three dividend transactions resulting in the distribution of approximately $300mm of capital and completion of the sale of AirSwift from Wellspring Capital Partners V, L.P. to a financial sponsor

Wellspring specializes in middle-market control investments in the U.S. primarily in the healthcare, packaging and business services sectors. The firm is fully owned and led by its four managing partners Alexander Carles, John Morningstar, Matthew Harrison and Naishadh Lalwani. The firm (together with its predecessor) has raised over $5.6 billion across eight private equity funds and has completed over 45 platform investments since 1995.

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