All Current Former

Certica Solutions

Education

Provider of K-12 data management software and education content solutions.

Case Study

Certica Solutions

Education

  • Website:www.certicasolutions.com
  • Headquarters:Wakefield, MA
  • Investment Date:February 2016
  • Exit Date/Status:Active
  • Revenue Growth:15% CAGR (last 3 years)

Investment Overview

Certica provides education technology platform, content and data solutions which enable K-12 educators and administrators to assess, measure and improve instructional and organizational performance. The company partners with a diverse network of education technology companies, publishers and assessment providers, and also delivers solutions directly to over 500 school districts, charter schools and educational services agencies.

Accomplishments

  • Accelerated organic growth through new product introductions and partnerships
  • Completed two complementary acquisitions to expand product offering
  • Launched Certica Connect, the first EdTech Platform-as-a-Service solution connecting content and data providers and consumers
  • Enhanced organizational structure and completed key hires in HR, business development, marketing and engineering
  • Built out strategic board of directors

“As we continue to pursue a strategy that capitalizes on our strength in integrating and distributing data and content for the K-12 education sector, New Harbor’s expertise in supporting the growth of education businesses will be critical in achieving our potential. ”

Mark Rankovic, President and CEO

Community Psychiatry Management

Healthcare

A behavioral health practice management company supporting over 40 affiliated psychiatrists.

Case Study

Community Psychiatry Management

Healthcare

  • Website:www.communitypsychiatry.com
  • Headquarters:Sacramento, CA
  • Investment Date:July 2015
  • Exit Date/Status:Active
  • Revenue Growth:9% CAGR (last six years)

Investment Overview

Founded in 1995, Community Psychiatry Management, LLC is a leading behavioral health practice management company supporting over 40 affiliated psychiatrists practicing in California’s Sacramento, San Joaquin and Bay Areas.  New Harbor was attracted to the company’s leading market position, high-quality reputation and strong value proposition with patients, physicians and payors. Together, New Harbor and Community Psychiatry are growing the business by expanding into new geographies via new office locations and telepsychiatry as well as expanding the company’s service offering.

Investment Management

  • Significantly accelerated provider recruiting
  • Expansion into new geographic markets (Southern California) underway
  • Made investments into information technology to improve provider efficiency and patient access (e.g. telemedicine platform, proprietary EMR)
  • Recruited numerous key leadership positions, including President, Executive Director, General Counsel and Controller
  • Built out strategic board of directors; added two independent directors to provide business, organizational and industry insights

“We are committed to improving and simplifying access to mental healthcare services. I look forward to our partnership with New Harbor and their expertise in supporting fast-growing, high-quality service businesses such as Community Psychiatry.”

Dr. Mark Levine
CEO

KURE Pain Management

Healthcare

A provider of multi-disciplinary pain management services.

Case Study

KURE Pain Management

Healthcare

  • Website:www.kurepain.com
  • Headquarters:Annapolis, MD
  • Investment Date:June 2015
  • Exit Date/Status:Active
  • Revenue Growth:21% CAGR (last five years)

Investment Overview

Founded in 2003, KURE Pain Management is a leading provider of outpatient chronic and acute pain management services.  The company’s diverse service offering, high quality of care, physician- and patient-centric focus, and value proposition attracted New Harbor, and the two spent a year building a relationship before formally partnering.  Together, New Harbor and KURE are growing the business by expanding the existing footprint within Maryland and into adjacent states, as well as exploring complementary service lines.

Investment Management

  • Completed two add-on acquisitions and three de-novo locations
  • Recruited new CFO and Controller; improved financial processes and reporting
  • Built out strategic board of directors; added two independent directors to provide business, organizational, and industry insights

“New Harbor’s extensive experience with service businesses, particularly with practice management businesses supporting physicians, will be critical as we accelerate our growth and expand our services.”

Dr. Damean Freas
CEO

New York Kids Club

Education

A provider of premium early childhood enrichment, preschool, camps, parties and events.

Case Study

New York Kids Club

Education

Investment Overview

Founded in 2001 by Pam Wolf, New York Kids Club is an established leader in early childhood enrichment and preschool education in the New York City Area. New Harbor Capital was first introduced to the company in late 2014 and quickly developed a strong affinity for the NYKC team, the high-quality enrichment programming, and the high-touch customer service model.  New Harbor partnered with NYKC to support the continued success of the business, focusing on accelerating growth through new program offerings and an expanded footprint both within and outside of the NYC-area.

Accomplishments

  • Expanded within core NYC market
  • Geographic expansion to new markets underway
  • Introduced new curriculum, offerings and programs
  • Recruited new CFO, COO, finance and operations team, and Director of Preschool
  • Launched integrated marketing strategy
  • Built out strategic board of directors; added three independent directors to provide business, organizational, and industry insights

“New Harbor’s experience growing education businesses makes this an exciting partnership for us. Their industry-specific expertise coupled with their strategic and operational know-how will be extremely valuable as we implement our growth initiatives.”

Pam Wolf
Founder and CEO

PT Solutions

Healthcare

A provider of physical therapy services with more than 80 points of service across eight states.

Case Study

PT Solutions

Healthcare

  • Website:www.ptsolutions.com
  • Headquarters:Atlanta, GA
  • Investment Date:December 2013
  • Exit Date/Status:Active
  • Hospital Partnership Growth:100%
  • Revenue Growth:30% CAGR (last 3 years)
  • Add-On Acquisitions:2

PT Solutions Case Study

Dale Yake of PT Solutions speaks about his experience with New Harbor Capital.

Investment Overview

When New Harbor was first introduced to the company in late 2012, PT Solutions was quickly growing into a regional leader in physical therapy. The founders had successfully built a business known for its therapist-centric model, quality of care, and unique partnership approach with hospitals. To further build on this success, PTS partnered with New Harbor to accelerate growth and solidify PTS as a market leader.

Accomplishments

· Significantly expanded both clinical and satellite de-novo locations
· Expanded geographic coverage and points of service – currently operates over 100 points of service across 10 states
· Diversified hospital relationships
· Recruited new CFO and COO; enhanced organizational structure with key additions in IT, HR, sales and marketing and accounting
· Implemented new clinical and back-office IT systems to improve operations
· Completed four add-on acquisitions
· Built out strategic board of directors; added two independent directors to provide business, organizational, and industry insights

Results

Through the strong partnership between New Harbor and PTS, the company has achieved rapid acceleration of an already impressive growth trajectory. PTS nearly doubled in size during the first year of our partnership and is poised for continued success. Management and New Harbor are focused on continuing to build the business through new clinic additions, additional hospital partnerships and strategic acquisitions.

“The New Harbor Capital Team has been a solid partner both in the current ownership period and even prior. Tom, Ed, Jocelyn, and John have been impactful on the company in a positive vain exactly as presented prior to the transaction. NHC has come alongside the original owners to assist in expanding our growth capabilities in accounting, finance, recruiting, retention, and development. At the same time, the NHC team has fostered professional growth in our management team to better leverage the talents necessary to now run a larger company. They are a transparent and effective leadership team that has meshed well with what was our pre transaction vision for the company.”

Dale Yake
CEO

Wedgewood Pharmacy

Healthcare

Provider of compounded medications for the veterinary market.

Case Study

Wedgewood Pharmacy

Healthcare

  • Website:www.wedgewoodpharmacy.com
  • Headquarters:Swedesboro, NJ
  • Investment Date:June 2016
  • Exit Date/Status:Active
  • Revenue Growth:17% Revenue CAGR (last 10 years)

Investment Overview

Wedgewood provides compounded medications to over 100,000 pet owners through more than 36,000 veterinarian customer relationships across the country. The company offers preparations for the companion animal, equine and specialty ophthalmology markets.  New Harbor was attracted to Wedgewood’s leading market position, commitment to quality and customer service, and unmatched regulatory compliance. A great fit culturally, New Harbor and Wedgewood plan to cultivate the business by accelerating growth and implementing strategic process improvement initiatives.

Accomplishments

  • Expanded preparation offering through continued innovation
  • Developed sales and marketing strategy to increase customer awareness and increase market penetration
  • Implemented process improvement initiatives to increase capacity and efficiency of operations
  • Enhanced organizational structure and recruited new COO
  • Significant facility expansion project underway
  • Built out strategic board of directors; added three independent directors to provide business, organizational and industry insights

 

“New Harbor’s healthcare industry expertise and strong cultural fit were key differentiators for us. Their track record for successfully executing growth strategies, as well as their experience with medical products distribution will elevate our business to the next level, while upholding the high quality, innovation and reliable service our customers expect.”

Marcy Bliss
President and CEO

Royall & Company

Education

The industry leader in strategic, data-driven direct marketing and advisory services to traditional colleges and universities.

Case Study

Royall & Company

Education

  • Website:www.royall.com
  • Headquarters:Richmond, VA
  • Investment Date:December 2011
  • Exit Date:January 2015
  • EBITDA Growth:20% CAGR
  • Add-On Acquisitions:1

Royall & Company Case Study

Former CEO John Nester talks about New Harbor's work with Royall & Company.

Investment Overview

At the time of investment, Royall & Company was already the established industry leader in direct marketing and advisory services for undergraduate recruiting to traditional colleges and universities. The company was also in the early stages of expanding offerings for both graduate recruiting and advancement (alumni giving). The goals of the partnership were to accelerate growth within the core undergraduate segment, support the growth of the new service offerings, and further expand to new services within the student lifecycle.

Accomplishments

  • Built a Board of Directors. Established strategic board of directors with deep education industry expertise.
  • Built management team. Augmented management organization to support accelerated growth with key positions added in HR, IT, finance and corporate development.
  • Enhanced sales & marketing approach. Reconfigured the sales organization, implementing a team based approach, a new compensation model, subject matter experts and thought leadership events.
  • Guided corporate development. Successfully entered financial aid services through a strategic acquisition and implemented international student recruitment strategy.

Results

Through the successful partnership between Royall & Company and the New Harbor team members, the company achieved record new client growth and retention, improvements in productivity and profitability, and expansion into new service offerings. As a result of this success, Royall received significant interest from potential acquirors, and was ultimately acquired by The Advisory Board Company in early 2015.

WASH Multifamily Laundry Systems

Business Services

A provider of laundry facilities management services for condominiums, universities, and other multi-housing locations.

Learn More

WASH Multifamily Laundry Systems

Business Services

  • Investment Date:August 2008
  • Status:Active

A leading route services business providing coin-operated and smart card laundry equipment to multi-unit housing locations such as apartments, college residence halls, and military bases.

Summary

Completed 12 add-on acquisitions. EBITDA more than doubled.

Heartland Dental

Healthcare

The largest dental service organization in the United States with over 400 affiliated dental offices across 20 states.

Case Study

Heartland Dental

Healthcare

  • Website:www.heartland.com
  • Headquarters:Effingham, IL
  • Investment Date:July 2008
  • Exit Date:December 2012
  • Strategic Affiliations / De Novos:200+
  • EBITDA Growth:100%+

Heartland Dental Case Study

Dr. Rick Workman talks about Heartland Dental's experience working with New Harbor Capital.

Investment Overview

Founded by Dr. Rick Workman in 1980, Heartland is widely recognized as the premier dental service organization in the country known for its dentist-centric approach and high quality patient care. The New Harbor principals cultivated a relationship with Dr. Workman for a year before making a structured equity investment in the Company in 2008. The goals of the partnership were to professionalize the organization as it transitioned from a founder-owned and managed business into a scalable business capable of accelerated growth through strategic affiliations and de novos.

Accomplishments

  • Built a Board of Directors. Established strategic board of directors, including with three outside board members to provide business, organizational and industry insights.
  • Built management team. While Heartland had a strong team in place, New Harbor guided enhancements to the organization wherein several existing personnel were elevated into new roles and complemented by key strategic hires, such as a CFO and VP of Marketing.
  • Guided corporate development. Created a dedicated business development team to oversee the addition and integration of new offices through both affiliations and de novos.
  • Talent recruitment and retention. Established a program for recruiting and retaining top dentists, including financial and non-financial incentives (including a professional development / training & education program).
  • Supported gains in productivity. Invested in a centralized call center and sophisticated data systems.

Results

Through the successful partnership between Heartland and the New Harbor team members, the company more than doubled in size, growing from nearly 200 offices to over 400 offices in a span of 4.5 years. As a result of this success, Heartland received significant interest from potential buyers, ultimately being acquired in a majority recapitalization transaction by Ontario Teachers’ Pension Plan (OTPP) in late 2012.

Dr. Rick Workman, the Active Executive Chairman & Founder of Heartland, is the Chairman of New Harbor’s Executive Advisor Committee.

Swank Audio Visuals

Business Services

A provider of outsourced, comprehensive audio visual services.

Learn More

Swank Audio Visuals

Business Services

  • Investment Date:August 2007
  • Exit Date:November 2012

A leading provider of audio visual and event technology services to the hotel, resort, meeting and conference center industries.

Summary

Completed strategic add-on acquisition. Sold to strategic buyer (PSAV).

Acton Mobile

Business Services

A provider of modular space rental services for the construction, commercial, education, healthcare, and government markets.

Learn More

Acton Mobile

Business Services

  • Investment Date:February 2007
  • Exit Date:2014

Summary

Completed one add-on acquisition. Sold to financial buyer.

Suture Express

Healthcare

The distributor of sutures, endo-mechanical, and other disposable medical/surgical products.

Case Study

Suture Express

Healthcare

  • Website:www.sutureexpress.com/
  • Headquarters:Lenexa, KS
  • Investment Date:August 2006
  • Exit Date:January 2010
  • Growth in New Hospital Customers:60%
  • EBITDA Growth:100%+

Investment Overview

The New Harbor principals met the founders of Suture Express in 2006. As a distributor of sutures and endo-mechanical products, the Company developed a unique solution to help hospitals and surgery centers better manage the highly complex supply chain for these mission critical products. The four founders of the Company were looking to transition out of the business, and wanted a partner to help manage the transition and oversee the continued growth and development of the business.

Accomplishments

  • Built a Board of Directors. Established strategic board of directors which provided the Company with insights and expanded relationships with acute care hospitals.
  • Built management team. Successfully transitioned the business from the four original founders to a professional management team led by an experienced industry executive, Ed Kuklenski.
  • Supported gains in productivity. Utilized technology to improve the operations of a highly complex distribution process. Established dashboard reports to more effectively manage and monitor financial and operating performance of the business.
  • Added new product categories. Through focus research, successfully added several new product categories which leveraged the company’s unique overnight delivery model.

Results

The ownership / management team transition was successful. The New Harbor team identified and hired an experienced industry executive, Ed Kuklenski, to manage the business. Under Ed’s leadership, Suture Express achieved organic growth of over 30% per year. The success of the Company, led to the establishment of a new GPO contracting category. Ultimately, the company’s leading position in a niche market drew significant strategic and private equity interest, and the business was sold to Diamond Castle Partners in January 2010.

“Ed & Tom have done an excellent job of perfecting an equity incentive program that aligns the financial interests of the investors and management. Their knowledge & experience were critical to Suture Express achieving a timely & successful exit.”

Ed Kuklenski
Executive Chairman and Former CEO

AMF Bowling

Business Services

The world’s largest owner and operator of bowling centers, generating more than 20 million customer visits per year.

Learn More

AMF Bowling

Business Services

  • Investment Date:February 2004
  • Exit Date:November 2012

Summary

Oversaw divestiture of non-core/non-U.S. business units. Sold to strategic buyer (Strike Holdings).

Baker Tanks

Business Services

The industry leader in containment, pumping, filtration and shoring equipment rental solutions.

Learn More

Baker Tanks

Business Services

  • Investment Date:January 2004
  • Exit Date:November 2005

Summary

Completed one add-on acquisition. 50% EBITDA growth. Sold to financial buyer.

ARC Document Solutions

Business Services

The country’s largest provider of document management solutions to the architectural, engineering and construction industry.

Case Study

ARC Document Solutions

Business Services

  • Website:www.e-arc.com
  • Headquarters:Walnut Creek, CA
  • Investment Date:April 2000
  • Exit Date:March 2007
  • Strategic Acquisitions:50
  • EBITDA Growth:145%+

ARC Document Solutions Case Study

Mohan Chandramohan describes ARC Document Solutions' experience with New Harbor Capital.

Investment Overview

The New Harbor team met ARC in late 1999. The Company was looking to recapitalize in order to facilitate liquidity for an existing institutional shareholder. The founders and management were seeking a new partner to help them aggressively grow the business into a national footprint through add-on acquisitions, and to help guide the business through a critical transition from an analog model (print-and-distribute) to a technology-enabled solution (distribute-and-print). In April 2000, the New Harbor team made an investment into ARC as an equal partner with management.

Accomplishments

  • Built a Board of Directors. Established strategic board of directors to guide transition of the business into the public realm and to provide business, organizational and industry insights.
  • Improved financial reporting and controls. Guided management in the development and implementation of more sophisticated systems, budgeting, financial reporting, internal audit and operating reports to better manage the business.
  • Guided corporate development. One of the primary goals of the investment was to develop a national footprint, targeting key U.S. markets while simultaneously expanding into underpenetrated regions. Strategic acquisitions were a core part of the strategy. During the investment period, ARC successfully completed more than 50 local and regional acquisitions, including buying the Company’s next largest competitor on two separate occasions.
  • Supported gains in productivity. Supported management as it led the industry in the migration from an analog -based model to a technology-enabled solution. Within a year of completing our investment, the company successfully implemented a proprietary web-based suite of tools branded as Plan Well. PlanWell made the process of managing construction documents easier, faster, more secure and more efficient for customers, and became the accepted industry standard.
  • Prepared the business for an IPO. Given the company’s market position, growth and industry leading technology, accessing the public markets through an IPO was a critical value creation strategy.

Results

Over the course of the successful partnership between ARC management and the New Harbor team, the company grew its revenue and EBITDA by over 100% and 145%, respectively. As a result of the substantial growth, and the successful deployment of technology tools and financial reporting and controls, we completed an IPO in February 2005 (NYSE: ARC) and completed the sale of our remaining stock in secondary offerings in 2006 and 2007.

Mohan Chandramohan, the founder and former Chairman and CEO of ARC, is an Executive Advisor to New Harbor.

“The New Harbor principals were strategic thinkers who really took the time to understand our business. They brought outstanding independent directors into the board, and contributed industry-specific strategic value to our company. In the end, their guidance was instrumental in preparing ARC to become a public company.”

Mohan Chandramohan
Former Chairman and CEO

Ace Products, Inc.

Industrial Products

Manufacturer of semi-pneumatic rubber tires and plastic wheel assemblies for agricultural and lawn & garden markets.

Learn More

Ace Products, Inc.

Industrial Products

  • Investment Date:July 1999
  • Exit Date:December 2004

A manufacturer of semi-pneumatic rubber tires, plastic wheel assemblies and specialty rubber products to original equipment manufacturers in the lawn and garden, agriculture and industrial material handling industries.

Summary

Successfully completed corporate carve-out. Sold to financial buyer.

KB Alloys

Industrial Products

Producer of aluminum master alloys, grain refiners, and titanium master alloys.

Learn More

KB Alloys

Industrial Products

  • Investment Date:September 1998
  • Exit Date:February 2011

A leading international supplier of master alloys, specialty alloys, high value-added refined powders and other intermediate materials to the aluminum, aerospace, electronics and medical device industries.

Summary

Completed 3 add-on acquisitions. Sold to strategic buyers (Ametek and AMG).

Utiliserve, Inc.

Business Services

A distributor of electrical transmission and distribution products and services to the U.S. electric utility industry.

Learn More

Utiliserve, Inc.

Business Services

  • Investment Date:August 1997
  • Exit Date:August 2002

A leading distributor of electrical power distribution equipment and supplies to utility companies throughout the south-central and mid-Atlantic United States.

Summary

Completed 4 add-on acquisitions. Grew revenue over 250%. Sold to strategic buyer (Hughes Supply).

References throughout this site to actions taken by “New Harbor” or the “New Harbor Team” in 2015 and prior years include actions taken by New Harbor personnel at an affiliated predecessor firm.

© 2017 New Harbor Capital, LLC / Designed by Savage Solutions