NewSpring Holdings has launched a Federal Advisory Board made up of seasoned federal services experts to enhance value for its current and future federal platform companies.
The board’s creation builds on the firm’s recent growth in the federal sector, including the July 2023 acquisition of BridgeCore to establish the Bcore platform, along with the acquisitions of GeoYeti, teKnoluxion and 2 Twelve Solutions. In 2022, NewSpring Holdings sold Avantus Federal for $590 million.
The board will be led by Chairman Andy Maner, former CEO of Avantus, and Federal Operating Partner Chris Blahm, former chief growth officer of Avantus.
“It’s an honor to work with NewSpring again to establish and guide multiple platforms in the government services space,” Maner said. “The distinguished and talented careers that our Advisory Board brings together will not only enhance government missions but also unlock immense value for NewSpring.”
Its founding members include Sen. Roy Blunt, Lt. Gen. Kevin McLaughlin, Luanne Pavco and Jeremy King.
The group will provide strategic guidance as NewSpring Holdings grows its portfolio and works with innovative businesses that provide solutions to meet the needs of the government across multiple platforms.
“We are delighted to partner with Andy and these esteemed leaders as force multipliers of the NewSpring Holdings disciplined business-building and value creation initiatives,” said Lee Garber, NewSpring general partner. “Their broad purview of the market, people-focused ethos, and past experiences will enhance our current and future investments by helping to navigate complex industry challenges and seize emerging opportunities.”