New Harbor Capital Elevates Leadership Team with Three Promotions

Firm appoints two new Partners and Principal, Marketing to expand leadership team

New Harbor is excited to announce three team member promotions to expand its leadership team. Bo Mlnarik and Drew Nicholson have each been promoted to Partner, and Hayley Formolo has been promoted to Principal, Marketing. These promotions highlight New Harbor’s continued growth and commitment to strengthening and developing its team.

Bo Mlnarik and Drew Nicholson’s promotions to Partner are reflective of their over six and eight-year tenures with New Harbor, respectively. As Partners, they will continue to lead the firm’s efforts in sourcing, evaluating, and executing new investment opportunities, as well as working with portfolio companies on their investment management plans. Additionally, they will be responsible for guiding and advancing the firm’s overall strategic initiatives and growth.

“These promotions are extremely well deserved,” said Tom Formolo, Partner at New Harbor Capital. “Bo and Drew have demonstrated exceptional dedication and leadership in their tenure here, from supporting our portfolio companies to driving new investment opportunities. Their contributions have been invaluable to our success, and we are thrilled to welcome them into these leadership roles as our firm continues to grow.”

Additionally, Hayley Formolo has been promoted to Principal, Marketing, in which she will lead the firm’s marketing and communications strategy. In this role, she will drive initiatives to enhance New Harbor’s brand visibility, develop impactful marketing content and campaigns, and collaborate with key stakeholders to elevate the firm’s reputation and presence. She will also continue to oversee the New Harbor Charitable Foundation as Executive Director.

“We are very excited to promote Hayley to this position,” said Mark Morgan, CFO and CCO at New Harbor Capital. “Her leadership has enhanced New Harbor’s brand and contributed meaningfully to the firm’s growth. This promotion recognizes her creativity, dedication, and the significant impact she has made since joining the team.”

Bo Mlnarik, Partner

Bo Mlnarik has been promoted from Principal to Partner. Bo has been with New Harbor Capital since 2019. His current Corporate Directorships include Access Infusion Care, FoodPharma, IndeVets, Monroe Biomedical Research, Premier ENT & Allergy, and Respire Homecare Services. Previously, he worked at Summit Partners in Boston, where he focused on growth investments in the healthcare and technology sectors. Prior to Summit, Bo worked for Robert W. Baird in Chicago in the Investment Banking Division advising and working with clients on M&A and equity transactions. Bo graduated with a BS in Finance from Boston College and holds an MBA from Harvard Business School.

Drew Nicholson, Partner

Drew Nicholson has been promoted from Principal to Partner. Drew has been with New Harbor Capital since 2017. His current Corporate Directorships include Bloom Health Centers, Escalon Services, and FYZICAL. He was also instrumental in New Harbor’s successful investment in Fix-It Group. Previously, he worked in the Sponsor Finance Group at Bank of Montreal exclusively focusing on middle market leverage finance transactions. Prior to BMO, he worked in the Expert Testimony Group at Ocean Tomo. Drew earned his BA in Economics with General Honors from The University of Chicago.

Hayley Formolo, Principal, Marketing

Hayley Formolo has been promoted from Vice President of Marketing and Communications to Principal, Marketing. Hayley has been with New Harbor Capital since 2020. Previously, she served as the Marketing Manager for Aspire, a nonprofit organization that supports people with developmental disabilities. Prior to her time at Aspire, she worked for Schafer Condon Carter, a full-service advertising agency. Hayley holds BAs in both Public Relations and Communications from the University of Southern California.