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LiquidHub Partners with NewSpring Capital to Fund Growth

10-01-2007 02:12 PM CET | IT, New Media & Software

Press release from: LiquidHub

/ PR Agency: 20:20 MEDIA
LiquidHub Partners with NewSpring Capital to Fund Growth

Hyderabad, INDIA, October 1, 2007 – LiquidHub, a leading systems integrator and technology consultancy, today announced that NewSpring Capital has led a $38 million growth financing round into the firm. NewSpring, a Radnor, PA based private equity firm, led a $20 million Series A Preferred Stock financing with a $7.5 million investment. NewSpring’s limited partners, including PPM America Capital Partners and Credit Suisse Alternative Investments, syndicated the remainder of the round. In addition, NewSpring facilitated the placement of an $18 million senior credit facility provided by M&T Bank.

The funds will help LiquidHub make strategic acquisitions to enhance its service offerings, augment its consulting practice, and expand into new vertical industries and regional markets. This expansion includes increased investments in its rapidly expanding India delivery center in Hyderabad, which is emerging as an important component of LiquidHub’s Global Delivery capabilities. In addition, the company gains access to a diversified team of advisors, and a broader network for business development opportunities.

“As a result of the entrepreneurial spirit and hard work of its associates, LiquidHub has enjoyed tremendous growth over the past seven years,” said LiquidHub CEO Jonathan Brassington. “Over time, we have considered growth funding options from a number of global integrators and investment firms. This financing presents us with an exceptional opportunity to enhance our focus on our clients while growing the company and expanding our service offerings.”

“LiquidHub’s success is rooted in its ability to work closely with its clients to address complex business challenges,” said Marc Lederman, General Partner of NewSpring Capital. “The company’s plan-execute-manage approach to engagements is a simple, yet time-tested methodology that is both repeatable and applicable across multiple industries. We believe that LiquidHub’s model and its management team are uniquely positioned for continued success, and that this investment will enable the company to pursue the growth initiatives that will “Make LiquidHub a dominant IT professional services firm.”

“M&T Bank is pleased to partner with NewSpring Capital and LiquidHub in providing a flexible senior credit facility to support LiquidHub’s growth plans”, added David Mills, vice president and manager of M&T Bank’s Middle Market group. “NewSpring and LiquidHub share our entrepreneurial spirit and appreciation for building long term relationships with our clients.”

As part of the growth financing, Marc Lederman of NewSpring Capital and Bruce Gorchow of PPM America will join the LiquidHub Board of Directors.

Media Contact:

E.P. Ganesh
Director
LiquidHub India Pvt. Ltd.
+91- 9848013062

Majid Pandit
20:20 MEDIA
+91 40 23416822
majid@2020india.com

About LiquidHub

LiquidHub is a systems integrator and technology consultancy delivering industry leading strategy, applications, data, and infrastructure solutions within the context of Enterprise and Service Oriented Architectures. The company partners strategically with clients in life sciences, pharmaceutical, healthcare, insurance, financial services, and other vertical markets to enable technology solutions. LiquidHub supports clients globally from its headquarters in King of Prussia, PA, and locations in Cambridge, MA, and Hyderabad, India. For more information, visit www.liquidhub.com.



About NewSpring Capital

NewSpring Capital, based in Radnor, Pennsylvania, and Short Hills, New Jersey, is a leading provider of private equity capital to the Mid-Atlantic region. NewSpring Capital currently manages over $400 million across three distinct investment strategies through its family of funds: (i) NewSpring Ventures provides equity capital to growth and expansion stage companies with a focus on business services, enabling technology and information technology, (ii) NewSpring Commerce Health Ventures provides equity capital to healthcare companies within the life science, healthcare services and medical device sectors, and (iii) NewSpring Mezzanine Capital provides mezzanine capital for expansion stage and buyout opportunities in the business services, healthcare, information technology, and specialty manufacturing sectors. NewSpring Capital partners with entrepreneurs, leveraging our capital and experience, to assist them in turning their visions into reality. To learn more about NewSpring Capital, please visit www.newspringcapital.com



About PPM America Capital Partners

PPM America Capital Partners, LLC, manages private equity investments at PPM America, Inc. The nine person team currently oversees a portfolio of commitments and outstanding investments of over $2 billion. PPM America Capital Partners invests in both limited partnerships and directly in companies through equity co-investments. For more information, visit www.ppmprivateequity.com



About Credit Suisse Alternative Investments

Credit Suisse Alternative Investments business is a leading global alternative asset manager involved in private equity, hedge funds and related activities. The businesses include a diverse family of private equity funds, including leveraged buyout funds, mezzanine funds, core and opportunity real estate funds, secondary funds and private equity fund of fund businesses, Funds and Alternative Solutions, Leveraged Investments, Quantitative Strategies, and Volaris. With over $134 billion in assets under management and exceptional investment performance, Credit Suisse is one of the world's largest and most successful managers of alternatives. Credit Suisse is the world's leading placement agent in alternative assets, raising capital for third-party managers

through its Private Fund Group and Real Estate Private Fund Group. Credit Suisse's Alternative Investments businesses have more than a 20-year history of strong investment performance, with leading market share positions. For more about Credit Suisse, please visit www.credit-suisse.com



About M&T Bank

M&T Bank Corporation, founded in 1856, is one of the top 20 bank holding companies in the nation, with over $57 billion in assets as of June 30, 2007. M&T has more than 650 branches and offices with more than 1,600 ATM locations throughout Pennsylvania, New York, New Jersey, Maryland, Delaware, Washington D.C., Virginia, and West Virginia. M&T serves the Greater Philadelphia area through its regional headquarters based in Horsham, PA. For more about M&T, visit www.mtb.com

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