Learn about Fort Point Capital’s strategic investment in NewBold Corporation, highlighting the growth opportunities and industry impact of this partnership in the managed technology services sector. Fort Point Capital Leads Investment in NewBold Corporation
Greenville, SC – Fort Point Capital (“Fort Point”), a growth-oriented private equity firm based in Boston, has recently announced the recapitalization of NewBold Corporation (“NewBold”), a leading provider of managed technology services with a strong foothold in the quick service restaurant, retail, warehousing, and healthcare industries. NewBold is Fort Point Capital’s third platform investment from its FPC Small Cap Fund III and continues the firm’s focus on backing leading companies in the technology services sector.
Why NewBold?
Founded in 1994 and headquartered in Greenville, SC, NewBold has established itself as a trusted partner for technology OEMs and multi-site enterprises that require complex, mission-critical technology solutions. The company offers a comprehensive suite of services, including:
- Point-of-Sale (POS) Support: Ensuring seamless transactions for businesses through robust POS systems.
- Automatic Identification and Data Capture (AIDC): Enhancing operational efficiency with advanced data capture technologies.
- Payment Device Services: Offering encryption, injection, and maintenance services to secure and manage payment devices.
- On-Site and Depot Repair Services: Providing quick and reliable technology repair services, either on-site or through depot facilities.
- Technology Procurement and Deployment: Managing the procurement and deployment process from start to finish.
- Configuration and Integration: Customizing technology systems to fit the unique needs of businesses.
- Help-Desk Support: Delivering 24/7 assistance to ensure uninterrupted technology operations.
NewBold’s services cater to industries where technology reliability is paramount.. Their ability to handle complex projects across diverse real estate footprints has made them a leader in managed technology services.
A Vision for Growth
Paul Lipson, Partner at Fort Point Capital, expressed his excitement about the investment, stating, “Keith Howerin and his team have built an exceptional platform at NewBold, characterized by strong capabilities and a commitment to excellence. We’re thrilled to support NewBold’s next phase of growth as they continue to expand their services and reach new markets.”
This partnership with Fort Point comes at a pivotal time for NewBold. The rapid proliferation of field technology has created a growing demand for companies that can deploy, manage, and support critical hardware assets across multiple locations. NewBold’s expertise in this area positions it well for continued growth, especially as businesses increasingly seek partners who can provide comprehensive technology management solutions.
Keith Howerin, CEO of NewBold, shared his enthusiasm for the partnership, noting, “Fort Point Capital’s investment aligns perfectly with our goals. We see tremendous opportunity to grow our service offerings and deepen our relationships with existing and new customers across various industries. With Fort Point’s support, we’re poised to accelerate our growth trajectory and continue delivering exceptional value to our clients.”
Expanding the Strategy
Fort Point is known for its growth-oriented approach, and NewBold fits perfectly into their portfolio strategy. Michael Duffy, Vice President at Fort Point Capital, highlighted NewBold’s impressive growth record, particularly its ability to expand through strategic acquisitions. He added, “We’re eager to build on NewBold’s success and help accelerate their growth through continued strategic acquisitions and investments in talent and technology.”
Fort Point Capital’s approach to private equity investing emphasizes partnership with founders and management teams to drive growth and create lasting value. Since its inception in 2011, the firm has completed over 50 acquisitions, consistently delivering strong results for its partners and stakeholders.
The Road Ahead
The acquisition of NewBold Corporation is more than just a financial transaction; it’s a partnership built on a shared vision for growth and innovation in the technology services sector. With Fort Point Capital’s support, NewBold is well-positioned to expand its service offerings, reach new markets, and continue its legacy of excellence.
As technology continues to evolve, the demand for reliable, comprehensive technology management services will only grow. NewBold’s proven track record and Fort Point’s strategic expertise make this partnership one to watch in the coming years.
For more information about NewBold Corporation and its services, visit www.newboldcorp.com. To learn more about Fort Point Capital and its investment approach, visit www.fortpointcapital.com.
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