NewSpring, a family of private equity strategies, has through NewSpring Holdings, the firm’s buyout strategy, has raised an additional $120 million led by Northleaf Capital Partners, a global private markets investment firm.

NewSpring Holdings executes a buy-and-build strategy that identifies, acquires, and assists in founder and family-led businesses in the lower-middle market.

“Through NewSpring’s differentiated investment approach, we partner with family-run businesses and founders to create exponential growth,” said Skip Maner, NewSpring general partner. “Our brand of partnership is ingrained in our operating experience and focused on the alignment of values with the management teams we invest in to maintain corporate culture and foster environments that allow for smart paths to sustainable growth.”

“The key to NewSpring’s successful strategy is how grounded and thoughtful they are in their approach to the human side of the businesses they lead,” said Emil Fajersson, director at Northleaf. “To scale their existing platform companies so effectively speaks to their firsthand experience as former operators themselves combined with an unmatched passion for building businesses. We are thrilled to partner with this team as they continue to expand on the success they’ve already achieved.”

“Strategic M&A is fundamental to our next stage of growth, and this capital infusion will help propel our platform expansions forward,” said Lee Garber, NewSpring Holdings partner. “We are extremely proud of the collective growth our existing platform companies have had to date and look forward to continuing to partner with more innovative founders and business owners in the future.”