Wellspring Capital Management

Wellspring Capital Management is an American private equity firm focused on leveraged buyout investments in middle-market companies across a range of industries.

Wellspring Capital Management
TypePrivate
IndustryPrivate equity
Founded1995 (1995)
FounderMartin Davis,[1] Greg Feldman
HeadquartersLever House
New York, New York, United States
ProductsLeveraged buyout
Total assets$2.2 billion
Websitewww.wellspringcapital.com

The firm, which is based in New York City, was founded in 1995 by Martin Davis and Greg Feldman. Davis (1927-1999) was best known for his role in restructuring Gulf and Western Industries into Paramount Communications.[1] The firm has raised approximately $2.2 billion since inception across four funds. Wellspring completed fundraising on its fourth fund in 2005 with $1.0 billion of investor commitments[2] as a successor to its $665 million 2003 Fund III.[3]

Wellspring focuses on the packaging, healthcare, niche manufacturing and distribution sectors.[4][5]

Among the firm's most notable investments are: Performance Food Group,[6][7] Lionel, Dave & Buster's[8] and Checkers.

In 2015 the firm acquired Bellwether Behavioral Health, a troubled for-profit group home operator that has faced challenges in Maryland,[9] New Jersey,[10] and Florida.[11]

References
  1. Martin Davis, 72; Created Modern Paramount. New York Times, October 6, 1999
  2. US Wellspring closes Fund IV on $1bn. AltAssets, November 30, 2005
  3. US Wellspring Capital Management closes $665m fund. AltAssets, April 30, 2003
  4. "SupplyOne Acquires Fellow Packaging Distributor Romanow Container". Industrial Distribution. January 3, 2022.
  5. "Healthcare & Life Sciences Private Equity Deal Tracker: Wellspring Acquires Pentec Health". JD Supra. October 12, 2021.
  6. Equity Firms Acquiring Food Supplier. Bloomberg, January 19, 2008
  7. Blackstone, Wellspring to acquire Performance Food Group in $1.3bn deal Archived 2008-06-11 at the Wayback Machine. AltAssets, January 18, 2008
  8. Business Wire: Dec 9, 2005-Dave & Buster's, Inc. Agrees to Be Acquired by Wellspring Capital for $18.05 Cash Per Share
  9. Maryland Sues Notorious For-Profit Group Homes. The Company Was the Subject of ProPublica Investigation. by Heather Vogell July 12, 2019]
  10. 'Loved ones’ lives at stake': NJ residents face uncertainty as Bellwether ousted from 62 group homes
  11. Suit alleges more abuse of disabled people at Carlton Palms as facility prepares to close


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