Wellspring Capital Management
 | |
| Company type | Private |
|---|---|
| Industry | Private equity |
| Founded | 1995 |
| Founder | Martin Davis,[1] Greg Feldman |
| Headquarters | Lever House New York, New York, United States |
| Products | Leveraged buyout |
| Total assets | $2.2 billion |
Number of employees | 4800 |
| Website | www.wellspringcapital.com |
Wellspring Capital Management is an American private equity firm focused on leveraged buyout investments in middle-market companies across a range of industries.
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] The current CEO of Wellspring is William F. Dawson, Jr.[4]
Among the firm's most notable investments are: Performance Food Group,[5][6] Lionel, Dave & Buster's[7] and Checkers. Wellspring has recently come under scrutiny with regard to one of their portfolio companies, Bellwether Behavioral Health. (formerly known as Advoserv) Recently New Jersey demanded action in light of the multiple complaints of residents of Bellwether Behavioral Health being mistreated and dying under their care. https://www.nj.com/healthfit/index.ssf/2018/08/group_home_operator_for_disabled_will_get_no_new_a.html Audrey Quinn, host of the podcast series, Reveal, https://www.wnycstudios.org/shows/aftereffect has brought an amazing insight into the mis-management and abuse that has occurred at Bellwether Behavioral Health.
Miscellaneous
The firm is not related to a Florida firm, Wellspring Capital, that was implicated in a Ponzi scheme in 2004.[8]
References
- ^ a b Martin Davis, 72; Created Modern Paramount. New York Times, October 6, 1999
- ^ US Wellspring closes Fund IV on $1bn. AltAssets, November 30, 2005
- ^ US Wellspring Capital Management closes $665m fund. AltAssets, April 30, 2003
- ^ [1]
- ^ Equity Firms Acquiring Food Supplier. Bloomberg, January 19, 2008
- ^ Blackstone, Wellspring to acquire Performance Food Group in $1.3bn deal. AltAssets, January 18, 2008
- ^ Business Wire: Dec 9, 2005-Dave & Buster's, Inc. Agrees to Be Acquired by Wellspring Capital for $18.05 Cash Per Share
- ^ More Problems for Wellspring Capital. New York Times, February 29, 2004
External links
- Wellspring Capital Management (company website)
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