PennSpring Capital Further Affirms Commitment to Home State Investment Via Addition of Regional Financial Leader

LANCASTER, Pa., July 29, 2019 /PRNewswire/ -- PennSpring Capital (www.pennspring.com), a people-forward investment firm focused on lower middle market opportunities, announced today the launch of its south-central Pennsylvania investment initiative with the hire of former BB&T Senior Vice President Thomas Showers. Tom's addition comes at the key inflection point following PennSpring's May acquisition of two Leola businesses; nationally opportunistic, PennSpring is now dedicating the majority of its resources to assisting in-state business owners in their transition planning and liquidity pursuit. One of the most active firms of its size in the country, in the last twelve months PennSpring has made nine investments. PennSpring intends to continue this pace, though with a decidedly local flavor.

Tom Showers joins PennSpring to lead its deal origination for the Keystone State, where he has long been a distinguished financial and civic leader. Tom was formerly with BB&T, a Top 10 bank nationwide. He was responsible for business development in the bank's south-central Pennsylvania region, securing and managing a $125 million portfolio. He previously served in similar business development leadership roles for National Penn Bank and Bank of Lebanon County, managing portfolios of $70 million and $40 million, respectively. Tom brings to PennSpring a wealth of local relationships and nearly four decades of deal origination expertise.

"Tom thoroughly impressed us in his role with BB&T on one of our previous deals, and we are very fortunate that he has chosen to apply his business development acumen and invaluable relationships to the buy-side with PennSpring," said Lou Castelli, Managing Partner of PennSpring Capital. "Tom's roots in the regional community run deep indeed, and with his hire we have planted the PennSpring flag firmly in our backyard. We look forward to further investing in the local economy, and in partnership with the entrepreneurs that make our state a small business example for the world."

"Through our every interaction I became more impressed with PennSpring – this is not your typical financial buyer," stated Tom Showers. "They are first entrepreneurs and operators, and treat business owners with the same respect and consideration they wanted afforded them when they sat opposite an acquirer. As a member of PennSpring I believe I can bring valuable solutions to the communities and partners I have served throughout my career."

About PennSpring Capital

PennSpring Capital unlocks liquidity and empowers growth. Based in Lancaster, Pennsylvania, PennSpring is a people-forward investment firm focused on lower middle market opportunities, investing in dynamic firms and helping evolve them to institutional scale. PennSpring's Partners are entrepreneurs with firsthand experience in growing and positioning businesses. PennSpring engages at a deep level and applies its experience to elevate its partners' businesses. Learn more at www.pennspring.com.

SOURCE PennSpring Capital

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http://www.pennspring.com