News
STEVEN D. HOBMAN NAMED TO ADVISORY BOARD OF PENN STATE UNIVERSITY’S GREAT VALLEY CAMPUS
Term Begins in Early 2007
King of Prussia, PA – November 20, 2006– NewSpring Capital announced today that Steven D. Hobman, General Partner of NewSpring Capital, has been accepted to the Advisory Board of Penn State University’s Great Valley Campus. Located in suburban Philadelphia, Penn State’s Great Valley Campus offers a wide range of graduate degrees, with an emphasis on education, finance, information science, leadership development as well as MBA programs and other master’s degrees. The university looks for business leaders in the community to serve on the Advisory Board in order to help identify trends, education needs and how the curriculum can be tailored to address these issues.
“I am pleased to join the advisory board of such a venerable organization with many leaders in the local community,” states Mr. Hobman. He goes on to say “I look forward to participating in PSU Great Valley’s ongoing growth and success.”
About Steven D. Hobman
Steve Hobman is a General Partner of NewSpring Mezzanine with more than 20 years of experience in the financing of middle-market and growth-stage companies. He has provided more than $400 million in such financing to these companies. He has been a commercial banker for 20 years at Meridian Bank, Progress Bank, and Comerica Bank. He founded TechBanc, the venture lending division of Progress Bank, which was purchased by Comerica Bank in 2002. He also co-founded Ben Franklin/Progress Capital Fund, L.P. in 1998 and NewSpring Ventures, L.P. in 1999. In addition to the MCIDC Board, Steve is also a member of the board of directors of Eastern Technology Council, Early Stage East, Neighborhood Health Agencies, Inc., American Compliance Systems, Inc., Fastech Integrated Solutions, LLC, The Matworks Company, LLC, and Rankin Corporation. He holds an A.B. from Franklin and Marshall College and an MBA from West Chester University.
About NewSpring Capital
NewSpring Capital, based in King of Prussia, PA, manages a family of private equity funds which provide growth equity and mezzanine debt financing to growth and expansion stage companies with a focus on business services, healthcare, life sciences, specialty manufacturing and technology. NewSpring Capital focuses primarily on businesses in the mid-Atlantic region and invests between $3-$7.5 million per transaction in round sizes up to $30 million. For more information about NewSpring Capital and its family of funds, visit www.newspringcapital.com.
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