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New Harbor Capital

PE

USHealthtechOther

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Investment thesis

New Harbor Capital is a Chicago-based private equity firm focused on investing in lower middle market, growth-oriented healthcare, education, and business services companies. The firm seeks to partner with business owners in the education, healthcare, and tech-enabled services sectors, utilizing a research-based approach to identify opportunities where it can invest $10-40 million per platform in direct partnership with founders and management teams. New Harbor targets scalable companies with $2-15 million of EBITDA and focuses on growth buyouts and majority control positions in partnership with founders and management. The firm was founded on the premise that exceptional ideas are fostered through a culture of mutual respect, coupled with a methodical, research-driven approach.

Notable quotes

We remain fully committed to investing in high growth, founder-owned businesses in the lower middle market that value our partnership approach and extensive experience building industry leaders.

Tom Formolo · New Harbor Capital Fund III Announcement · 2025

All of our Funds have included significant capital commitments from our team of Executive Advisors. This impressive team of 11 founders and former CEOs of private equity-backed companies is vital to our success by providing us critical market insights, assisting in sourcing differentiated investments, and advising our portfolio companies and management teams.

Ed Lhee · New Harbor Capital Fund III Announcement · 2025

We greatly appreciate the trust that our limited partners have placed in our team. We believe there are tremendous opportunities to create value in the lower middle market. Our experience and operationally-focused approach combined with the insights, relationships and networks of our nine Executive Advisors positions us well for success.

Ed Lhee · New Harbor Capital Fund II Announcement · 2017

Team

Tom Formolo

Partner

Ed Lhee

Partner

John Pircon

Partner

Justin Marquardt

Partner

Bo Mlnarik

Partner

Drew Nicholson

Partner

Recent investments

CompanyRoundSizeDate
Desert Spine and Sports PhysiciansGrowth Equity2023
Monroe Biomedical ResearchGrowth Equity2023
MD EstheticsGrowth Equity
Access Infusion CareGrowth Equity
IndeVetsGrowth Equity
Escalon ServicesGrowth Equity
MindPlay EducationGrowth Equity
Bloom Health CentersGrowth Equity
Blueprint PrepGrowth Equity
FYZICALGrowth Equity

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