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NMS Capital

PE

USNorth AmericaHealthcareEnterpriseB2B SaaS

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Investment thesis

NMS Capital is a private investment firm specializing in strategic equity investments in leading middle market companies with an emphasis on sustainable growth trends in both the business services and healthcare services industries. The firm partners with founders and management teams to help accelerate growth through a collaborative approach that begins with active, strategic involvement at the board level, while providing the necessary resources, industry knowledge, operational excellence, and core competencies to accelerate sustainable growth. NMS focuses on equity investments ranging from $25 million to $75 million in privately-held companies with the ability to invest more with co-investments from limited partners. The firm targets companies with EBITDA of $3 million to $15 million at initial investment (updated to $5-25 million in recent materials) and focuses on majority positions ranging from 51-90%. NMS employs a growth-focused, theme-driven investment process within business services and healthcare services, focusing on companies headquartered in North America that are leaders within their markets and have actionable opportunities to grow organically and/or through acquisitions. The firm believes conservative levels of debt allow management teams to focus on growing their businesses, with many initial investments completed with no debt.

Notable quotes

We greatly appreciate the trust and confidence placed in NMS by our NMS II investment partners. The successful fundraising of NMS II was made possible by the invaluable contributions of our partners in NMS I, our Strategic Advisors and Operating Executives, and the outstanding management teams of our portfolio companies.

Kevin Jordan and Martin Chavez · NMS Capital Fund II Announcement

We could not be more excited and prouder to partner with Jim, Ken, and the entire Capstone team. The Company has a remarkable track record of growth while maintaining an unmatched commitment to client service and company culture. This investment is a direct outcome of NMS' theme-based investment strategy within the Facility Services sector and highlights our commitment to establishing partnerships with leading founder-owned enterprises in our core sectors across North America.

Daniel Schwartz · Capstone Mechanical Investment Announcement · 2025-05-06

NMS has a long history of partnering with management teams to support leading community-based multi-site provider practices, enabling physicians to deliver world-class care to the patients they serve while remaining autonomous.

Luis Gonzalez · U.S. Urology Partners Exit Announcement · 2025-04-09

Team

Kevin M. Jordan

Managing Partner, Co-Founder

Business ServicesHealthcare Services

Martin E. Chavez

Managing Partner, Co-Founder

Business ServicesHealthcare Services

Luis A. Gonzalez

Partner, Head of Healthcare

Healthcare Services

Daniel Schwartz

Partner, Co-Head of Business Services

Business Services

David M. Peterson

Partner

Healthcare Services

Jacob M. Kinsley

Principal

Business ServicesHealthcare Services

Recent investments

CompanyRoundSizeDate
Axiom MedicalRecapitalization2025-12-03
Northwest EnvironmentalRecapitalization2025-09-04
Capstone MechanicalRecapitalization2025-05-06
CSL ConsultingRecapitalization2024
Health & Wellness PartnersRecapitalization2023
U.S. Urology PartnersBuyout2018
U.S. Foot & Ankle SpecialistsBuyout2018
AvaapBuyout2016
CORDENTAL GroupBuyout
Anne Arundel DermatologyBuyout2015

Frequent co-investors

VC firmDeals together
General Atlantic1

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