What stage does New Water Capital invest at?

New Water Capital invests at the Growth stage.

Where is New Water Capital located?

New Water Capital is headquartered in Boca Raton, US.

Does New Water Capital lead rounds?

Yes, New Water Capital leads investment rounds.

New Water Capital

Private equity

Boca Raton · Growth · 13 people tracked

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Investment thesis

New Water Capital targets lower middle market companies in industrial manufacturing, industrial manufacturing services, and consumer products. It pursues control investments in North America, focused on the USMCA region, in businesses with revenues between $30 million and $300 million. The firm invests across situations including family and founder transitions, succession challenges, turnarounds involving operational distress or cash constraints, underperforming companies, and corporate carve-outs of non-core divisions. New Water aims to partner closely with companies to strengthen management, systems, and strategy, adding real value and helping portfolio businesses reach their full potential and stay ahead of competitors.

Invests inAdvanced Manufacturing Consumer Defense Tech Mobility & Transportation New MaterialsBoca RatonCanadaMexicoNorth AmericaUnited States

Source: firm website, verified Aug 6, 2026.

Stage

Growth

Boca Raton, US

Leads rounds

Leads

Instruments

Equity

Tracked investments

Team · 13 people

from the firm's website

Brian McGee· Managing Partner

Managing Partner with 25 years of private equity and investment banking experience. Was a Principal on Sun Capital Partners' transaction team, and earlier worked at Chanin Capital Partners and Banc of America Securities.

Jason Neimark· Managing Partner

Founder of New Water with nearly 30 years of mezzanine and private equity experience. Previously a Managing Director at Sun Capital Partners for a decade, where he led over 40 buyout and capital markets transactions, and earlier held roles at Lens1st, Midwest Mezzanine Funds, and KPMG.

Dwight Closson· Partner, Head of Operations

Operations executive with over 30 years of experience in operational turnarounds, lean manufacturing, and strategic planning. Previously COO at Quality Metalcraft and held leadership roles at Faurecia and Midway Products Group.

Matthew Carlos· Principal

Principal with 14 years of private equity and banking experience, joining in 2017. Previously an Associate at Mangrove Equity Partners and an analyst at BB&T Debt Capital Markets and Deutsche Bank Securities.

Nathan Douglas· Vice President

Vice President with nearly 10 years of lower-middle market private equity experience, joining in 2018. Previously an analyst at Mangrove Equity Partners.

Nick LaRosa· Vice President

Vice President with 10 years of private equity and investment banking experience, joining in 2017. Previously an Analyst in the Industrials group at RBC Capital Markets.

Sandy Fleming· Vice President

Vice President who joined in 2017 from JM Family Enterprises, where he was an Investment Analyst. Earlier held analyst roles at Dimension Capital Management and Brighton House Associates.

Brian Pawlowski· Chief Financial Officer

CFO and New Water's first employee, with 20 years of private equity accounting experience. Previously Controller at Khronos LLC and held accounting roles at Comvest Investment Partners, Sun Capital Partners, and Credit Suisse.

Eric Bitel· Vice President of Operations

Finance and accounting professional with nearly 20 years of manufacturing experience as a controller, cost accountant, and consultant. Founded Sun Spot Consulting LLC in 2019, specializing in private equity-held and turnaround situations.

Felicia Gannacone· Executive Assistant

Experienced executive assistant supporting senior executives in private equity and financial services, with expertise in project and budget management and acquisition support. Previously worked at Consol Capital, SCP, and Mesirow Financial.

Gabrielle Neuman· Associate

Associate who joined in 2024. Previously an analyst and associate in the Leveraged Finance group at Wells Fargo Securities, focused on debt capital raises for LBO and M&A deals.

Marc Webber· Director of Operations

Business turnaround specialist and operating executive with global experience in lean manufacturing and operational turnarounds. Previously COO at Martin Preferred Foods and held operations leadership roles at Snap Kitchen, Taylor Farms, and LSG Group.

Max Schoenheit· Senior Associate

Senior Associate who joined as an Associate in 2021 from Canaccord Genuity, where he was an Investment Banking Analyst.

Investments · 13 tracked

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Custom Made Meals

Realized investment in consumer products

Dutch Gold Honey

Active portfolio company in consumer products

Dutchgoldhoneydutchgoldhoney.com

Emerald EMS

Realized investment in industrial manufacturing

Gravisgravisglobal.comin

Klostermanklostermanbakery.comin

Klosterman Baking Company

Active portfolio company in consumer products

Luxit Group

Active portfolio company in industrial manufacturing

Nelson-Miller, Inc.

Active portfolio company in industrial manufacturing

Pegasus Foods, Inc.

Active portfolio company in consumer products

The Perfect Bite Co

Active portfolio company in consumer products

Trillium Health Care Products

Realized investment in consumer products

Fund performance · per public LP disclosures

as of Jun 2025

Fund	Vintage	Committed	Net IRR	TVPI	DPI
New Water CapitalLPs: Los Angeles City Employees' Retirement System	2015	—	10.6%	1.41x	1.27x

Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).

Frequently asked questions

What stage does New Water Capital invest at?: New Water Capital invests at the Growth stage.
What sectors does New Water Capital focus on?: New Water Capital focuses on Advanced Manufacturing, Consumer, Defense Tech, Mobility & Transportation, New Materials.
Where is New Water Capital located?: New Water Capital is headquartered in Boca Raton, US.
Does New Water Capital lead rounds?: Yes, New Water Capital leads investment rounds.

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