For Deal Sources

A unique solution for your client

Working together for over 25 years, we provide innovative private equity solutions to successful founders and entrepreneurs.

Investment Criteria

We invest behind dynamic entrepreneurs and founders that are seeking a partner for growth

Transaction Type

– Private IPO®

– Management Buyout

– Growth Equity

Platform EBITDA

$4 – $30MM+

Equity Investment

$20 – $100MM+

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Business Services

Business Services

  • Business Process Outsourcing
  • Education
  • Facility Management
  • Food & Beverage Services
  • Human Capital Management
  • Industrial Services
  • IT Services
  • Marketing & Media Services
  • Professional & Consulting Services
  • Value-Added Distribution
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Healthcare

Healthcare

  • Ambulance & Patient Logistics
  • Behavioral Health
  • Consulting, Coding, Billing & RCM
  • Home Health & Hospice
  • Medical Technology & Healthcare Equipment
  • Outsourced Medical Services
  • Pharma Services
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Manufacturing

Manufacturing

  • Aerospace & Defense
  • Chemicals
  • Electrical Equipment & Components
  • Food & Beverage Products and Processing Equipment
  • Industrial & Aftermarket Components
  • Packaging & Plastics

The Trade Off

The Private IPO® does not require the traditional trade-off between cash and control

Our unique transaction structure breaks the mold of balancing cash and control when taking on a capital partner.

The Private IPO is intentionally designed to address the liquidity objectives of business owners, while offering the ability to maintain control and capture future upside.

Watch Video
A chart titled "The Trade-Off: Cash Out vs. Control" shows a diagonal dotted line from "Growth Equity" (high control, low liquidity) to "Sale to Strategic" (low control, high liquidity), with Deal Sources like ESOP and Private IPO® in between.

The Private IPO®

Breaking down the Private IPO®

Founders can uniquely achieve 80% liquidity, 51% control, and up to 50% ownership at exit.

Shareholders achieve their liquidity objectives, receiving up to 80% of Enterprise Value (EV) at closing. 

A chart showing transaction uses: 80% cashout and 20% reinvestment, highlighting deal source strategy. Other categories like transaction sources, voting rights, and exit economics are faded and partially indicate figures such as 49% and 51%.

Shareholders roll over 20% of total proceeds into the deal for 33% of total invested equity.

Infographic illustrating transaction uses and sources, highlighting deal source strategy: 80% cashout, 20% reinvestment (owner); 33% rollover equity (NHC). Grayed-out boxes mark voting rights and economics at exit. Key differentiates owner and NHC.

In addition to raising third party debt, New Heritage invests 67% of the equity, half in common, pari-passu with owner’s reinvestment, and half in preferred with a 10% PIK paid at exit.

A diagram shows transaction uses and sources: 80% cashout and 20% reinvestment on the left; 33% rollover equity, deal source, and third party debt in the center; governance, voting rights, and economics at exit on the right. Owner is dark blue, NHC is light blue.

While New Heritage invests 67% of the equity, owners retain 51% of voting control subject to protective rights typically seen in joint venture structures.

A chart showing transaction uses and sources: 80% cashout, 20% reinvestment; sources are third-party debt and 33% NHC equity per the Deal Source Strategy. Governance: NHC holds 49% voting rights, owner gets 51%. Economics: up to 50% owner equity at exit.

A 25% incentive equity pool enables owners to achieve up to 50% of the common equity at the next liquidity event after repayment of debt and preferred equity.

A flowchart illustrates the Deal Strategy: transaction uses—80% cashout, 20% reinvestment; sources include third-party debt and 33% NHC equity. Governance: 49%/51% voting rights. Economics: up to 50% each in NHC and owner equity.

Origination Team

Our dedicated business development team is here to help

View All Team

Charlie Gifford

Senior Partner

Greg Katz

Vice President of Business Development

Want to learn more?

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Our Team