Which sectors does New State Capital Partners invest in?

Of the at least 22 portfolio companies we can classify, the largest groups are Professional Services (12), Industrials (8) and Healthcare (2).

Who leads New State Capital Partners?

Public sources name David Blechman (Founder and Managing Partner), Daniel Han (Partner and Co-Head of Investment Team) and Parashar Ranade (Partner) among New State Capital Partners's leadership.

Which firms are similar to New State Capital Partners?

By overlap in portfolio sectors in this index: Hg, Lloyds Development Capital and Shamrock Capital.

PE Firm · Capital Allocator

New State Capital Partners

Medium

Not on record · Website

Last verified

10/31/2026

Firm Overview

At least 22

Portfolio tracked

Sectors

Regions

10/31/2026

Last verified

Middle-market private equity firm.

Leadership

David Blechman

Founder and Managing Partner

Dave founded New State Capital Partners in 2013 after 18 years of private equity and investment banking experience at firms including H.I.G. Capital and Tower Three Partners.

Daniel Han

Partner and Co-Head of Investment Team

Daniel brings more than 20 years of private equity and investment banking experience and previously served as Co-Head of North American Investments at Strategic Value Partners.

Parashar Ranade

Partner

Parashar has sixteen years of experience in leveraged buyouts and corporate carve-outs, previously serving as a Principal in the LBO Fund of H.I.G. Capital.

Will Swayne

Partner and Co-Head of Investment Team

Will joined the firm in 2023 with 19 years of experience, having previously served as a Managing Director at Partners Group and CI Capital Partners.

Shaun Vasavada

Partner

Shaun joined the firm in 2018 with over six years of M&A experience, previously working at Marsh & McLennan Agency and Duff & Phelps.

Geoff Coar

Head of Business Development

Geoff leads business development following a 26-year career in commercial banking with leadership positions at Pacific Premier Bank and Citibank.

Marc Herdegen

Partner and Co-Head of Operations

Marc serves as a Partner and Co-Head of the Operations team.

Steve Larned

Partner

Steve is a Partner on the firm's Operations team.

Josh Skevington

Partner and Co-Head of Operations Team

Josh serves as a Partner and Co-Head of the Operations team.

Kristin Brown Patrick

Senior Operating Partner, Human Capital

Kristin focuses on human capital initiatives as a Senior Operating Partner.

Megan Galvin

Senior Operating Partner, Revenue

Megan serves as a Senior Operating Partner focused on revenue growth.

Michael Aossey

Operating Partner, AI Solutions

Michael serves as an Operating Partner specializing in AI solutions.

Adam McDowell

Principal

Adam joined New State in 2019 and previously worked at Speyside Equity and Deloitte Corporate Finance.

Portfolio by sector

22 of 22 tracked portfolio companies of New State Capital Partners carry a sector label we can map; shares are of those 22. See the methodology.

Deals on record

1 on record in the index

Platform investment

New State Capital Partners acquired Universal Plant Services' Rotating Segment

Date not stated

Source: harriswilliams.com

Deals are listed only where a public source names both sides. Submit a correction.

Portfolio on record

Portfolio by sector

Professional Services12 of 22
Industrials8 of 22
Healthcare2 of 22

22 portfolio companies on record in the index, grouped by sector hub.

Current and exited

Current: 22 of 22Exited: 0 of 22

Portfolio size among all firms

At least 22 companies on record, more than 40% of the 405 firms in the index.

0885 companies (log scale)

Partial portfolio on record.

Portfolio Companies

Company	Sector	Status	Website
Agility	Business/Financial/Professional Services	Current	Visit ↗
ArborWorks	Industrial Services	Current	Visit ↗
Capitol Pain Institute	Healthcare	Current	Visit ↗
CDS	Business/Financial/Professional Services	Current	Visit ↗
Central Conveyor	Business/Financial/Professional Services	Current	Visit ↗
ComNet	Business/Financial/Professional Services	Current	Visit ↗
Gautier Steel	Industrial Services	Current	Visit ↗
Global Holdings	Business/Financial/Professional Services	Current	Visit ↗
Harrell-Fish (HFI)	Industrial Services	Current	Visit ↗
Klein Hersh	Business/Financial/Professional Services	Current	Visit ↗
KMS	Business/Financial/Professional Services	Current	Visit ↗
MakoRabco	Business/Financial/Professional Services	Current	Visit ↗
Martinez Steel Corporation	Industrial Services	Current	Visit ↗
NWN Carousel	Business/Financial/Professional Services	Current	Visit ↗
Pax Services Group	Industrial Services	Current	Visit ↗
The Blackhawk Group	Industrial Services	Current	Visit ↗
The Expo Group	Business/Financial/Professional Services	Current	Visit ↗
The Wilmington Group	Industrial Services	Current	Visit ↗
United Medical Systems	Healthcare	Current	Visit ↗
Universal Plant Services	Industrial Services	Current	Visit ↗
Unlimited Instruction	Business/Financial/Professional Services	Current	Visit ↗
Vast Coworking	Business/Financial/Professional Services	Current	Visit ↗

This list is partial. We are reading the full portfolio from New State Capital Partners' own site.

Source: https://www.newstatecp.com/portfolio

Firms that also back New State Capital Partners' companies

Co-investor web

Line width shows shared portfolio companies on record in the index. Top 2 co-investors shown.

Comvest Partners1 shared company
Global Holdings
TJC1 shared company
Agility

Questions about New State Capital Partners

Which sectors does New State Capital Partners invest in?: Of the at least 22 portfolio companies we can classify, the largest groups are Professional Services (12), Industrials (8) and Healthcare (2).
What deals has New State Capital Partners done recently?: The most recent deal on record here is: New State Capital Partners acquired Universal Plant Services' Rotating Segment. This page lists 1 deal, each with its public source.
Who leads New State Capital Partners?: Public sources name David Blechman (Founder and Managing Partner), Daniel Han (Partner and Co-Head of Investment Team) and Parashar Ranade (Partner) among New State Capital Partners's leadership.
Which firms are similar to New State Capital Partners?: By overlap in portfolio sectors in this index: Hg, Lloyds Development Capital and Shamrock Capital.

Sources for this profile, updated 2026-11-01

Firm website
Public portfolio page
Deal reports (1), linked beside each deal

This profile is based on publicly available information and may be incomplete or outdated. PE Firm Index is not affiliated with New State Capital Partners and does not provide investment advice.

Firms similar to New State Capital Partners

Both hold Professional Services and Industrials companies; 21 tracked portfolio companies.

Lloyds Development Capital

Both hold Professional Services companies; 21 tracked portfolio companies.

Shamrock Capital

Both hold Professional Services and Industrials companies; 58 tracked portfolio companies.

Hellman & Friedman

Both hold Professional Services and Industrials companies; 18 tracked portfolio companies.

Chosen from this index by overlap in portfolio sectors, then by portfolio size. Not a ranking or a recommendation.

Firm Intelligence

Portfolio trackedAt least 22
SectorsNot on record
RegionsNot on record
AUMNot on record

Is this your firm?

Claiming is free and reviewed by hand. Correct facts and add your portfolio or team.

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