NEW WATER CAPITAL, L.P.

Thesis

New Water Capital, L.P. is a private equity firm founded in 2014 and headquartered in Boca Raton, Florida. They specialize in control investments within the North American lower middle market, targeting companies with revenues between $30 million and $300 million. Their investment strategy focuses on partnering with businesses undergoing transitions, such as operational challenges, succession planning, or growth opportunities. They also target underperforming businesses, corporate carve-outs, and turnaround situations. The firm primarily invests in the consumer products and industrial manufacturing and services sectors within the USMCA region. New Water Capital employs a lead investor strategy, often taking majority control. Their approach integrates transaction and operating models, involving operational professionals throughout the investment lifecycle. They offer flexible transaction structures including control buyouts, recapitalizations, and growth equity investments, emphasizing speed and certainty of close. The firm's inaugural fund, NWC I, closed at $406 million in July 2015, and their current AUM is approximately $406 million. Typical check sizes range from $5 million to $50 million, with a sweet spot of $25 million.