NMS Capital
NMS Capital is a New York-based private equity firm founded in 2010 that invests in lower middle market business services and healthcare services companies, managing over $1.5 billion in assets across five fund vintages and completing 150+ investments.
- Company typePrivate
- Founded2010
- HeadquartersNew York, United States
- Headcount101–250
- GTM typeB2B
- OfferingServices
What NMS Capital does
NMS Capital is a New York-based private equity firm founded in 2010 by Kevin M. Jordan and Martin E. Chavez, both former Managing Directors in Goldman Sachs' Merchant Banking Division. The firm specializes in strategic equity investments and leveraged buyouts of lower middle market companies, focused on two defined verticals: business services and healthcare services. It manages in excess of $1.5 billion in assets under management across five successive fund vintages (NMS I through NMS V), and reports 150+ investments and follow-on acquisitions since inception, with offices in New York (headquarters) and Dallas.
The firm's business model follows a traditional private equity sponsor structure, generating revenue from two streams: recurring management fees charged on committed or invested capital across the fund family, and transaction-driven carried interest (typically ~20% of profits above a hurdle) on successful portfolio exits. NMS deploys capital via a vertically-segmented team led by Luis A. Gonzalez (Head of Healthcare) and Daniel Schwartz (Head of Business Services), supplemented by an Operating Executive Council (OEC) of industry veterans. Portfolio support is delivered through a Portfolio Optimization Group staffed with former McKinsey, Bain, and operating executives, providing board-level engagement, add-on acquisition sourcing, human capital and technology investments, and operational improvement initiatives. The firm is legally organized as New MainStream Capital Management Holding, LLC, governed under New York law, and is independently held with no parent company.
NMS Capital firmographics
Firmographics- Name
- NMS Capital
- Legal name
- New MainStream Capital Management Holding, LLC
- Website
- http://www.nms-capital.com/
- Company type
- Private
- Founded year
- 2010
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- NMS Capital is a New York-based private equity firm founded in 2010 that invests in lower middle market business services and healthcare services companies, managing over $1.5 billion in assets across five fund vintages and completing 150+ investments.
- Ownership category
- akta.pro rank
NMS Capital industry classification
Industry- Product category
- Private Equity / Investment Management
- NAICS
- Portfolio Management and Investment Advice (52394), Management of Companies and Enterprises (55111)
- SIC
- Investors, Nec (6799), Investment Advice (6282)
- akta.pro primary industry
- Corporate Finance & Capital Advisory (BPAHADAB)
Keywords
Where NMS Capital is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
NMS Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Management Fees: NMS Capital generates revenue through management fees charged on the assets under management across its fund family (NMS I through V).
- Carried Interest: The firm earns carried interest (performance fees) from successful exits of portfolio companies, typically 20% of profits above the hurdle rate.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels3 records
NMS Capital product offering
Product offeringCore offering
NMS Capital is a private equity investment firm that provides strategic equity capital and leveraged buyouts to lower middle market companies in the business services and healthcare services sectors. The firm partners with founder-led and management-led companies, taking board-level positions and supplying operational resources, industry expertise, and capital to support sustainable growth. It invests through successive closed-end funds (NMS I through NMS V), manages $1.5+ billion in assets under management, and has completed more than 150 investments and follow-on acquisitions since its founding in 2010.
Product overview
NMS Capital is a private equity investment firm focused on driving sustainable growth for middle market companies in business services and healthcare services. Formed in 2010, the firm provides strategic equity investments and operates as a traditional private equity sponsor rather than a technology product company. The firm partners with management teams through board-level involvement and provides resources for strategic operational initiatives, data-driven approaches, human capital investments, technology investments, and add-on acquisitions. The firm's principal strategy is to create long-term value by providing strategic and operational resources to growth-oriented companies led by founders or experienced management teams.
Differentiator
Problem solved
Functional benefit
Companies that use NMS Capital
Customer profileNamed customers11 records
Segments3 records
Ideal customer profiles3 records
NMS Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
NMS Capital partnerships and signals
Strategic signalScale indicators3 records
Recent moves1 record
Expansion highlights5 records
NMS Capital competitors and assessment
Company assessmentDirect peers
- Kian Capital Partners: Kian Capital is a lower middle market PE firm focused on business services and healthcare, targeting founder-led companies with operational improvement strategies comparable to NMS.
- Audax Private Equity: Audax is a lower middle market private equity firm focused on buy-and-build strategies in business services and healthcare, with multi-fund AUM in the tens of billions. NMS's William Gonzalez previously worked at Audax, reinforcing direct comparability in target segment, deal size, and sector focus.
- Gryphon Investors: Gryphon is a lower middle market PE firm with a sector focus overlapping NMS (business services, healthcare). Gryphon acquired Safety Management Group from NMS in 2026, illustrating direct competition in similar deal profiles.
- Serent Capital: Serent Capital invests in tech-enabled services in the lower middle market. NMS's December 2025 recapitalization of Axiom Medical followed Serent Capital's exit, making it a near-direct peer in healthcare and business services investing.
- Brentwood Associates: Brentwood Associates is a lower middle market PE firm focused on consumer, business services, and healthcare. They acquired Marshall Retail Group from NMS in 2014, evidencing direct comparability in target verticals and exit relationships.
- Huron Capital Partners: Huron Capital is a lower middle market PE firm with a business services and specialty industrials focus. Its buy-and-build approach, fund size, and sector overlap closely mirror NMS's strategy.
- Pfingsten Partners: Pfingsten is a lower middle market PE firm investing in business services, healthcare, and consumer products with a buy-and-build model. Its target segment and platform-add-on strategy align closely with NMS.
- Stellex Capital Management: Stellex is a lower middle market PE firm focused on business services, healthcare, and industrial sectors. Its deal size range and operating-partner model parallel NMS's approach.
- High Road Capital Partners: High Road is a lower middle market PE firm focused on business services and healthcare services with a focus on founder-led companies — closely matching NMS's stated target segment and partnership approach.
Broad incumbents
- BDT & MSD Partners: BDT & MSD Partners is a larger, multi-strategy investment and advisory firm focused on business owners and entrepreneurs. NMS's William Gonzalez previously served as Managing Director and Head of Business Development there, making it a broader incumbent with overlapping relationship channels.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
NMS Capital social profiles
Digital presenceNMS Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
NMS Capital leadership team
Management profileNumber of profiles
Profiles12 records
NMS Capital subsidiaries and ownership
Company hierarchySubsidiaries33 records
NMS Capital funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
NMS Capital M&A and investment
M&A and investmentM&A5 records
Investments32 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about NMS Capital
What does NMS Capital do?
NMS Capital is a private equity investment firm that provides strategic equity capital and leveraged buyouts to lower middle market companies in the business services and healthcare services sectors. The firm partners with founder-led and management-led companies, taking board-level positions and supplying operational resources, industry expertise, and capital to support sustainable growth. It invests through successive closed-end funds (NMS I through NMS V), manages $1.5+ billion in assets under management, and has completed more than 150 investments and follow-on acquisitions since its founding in 2010.
Is NMS Capital a public or private company?
NMS Capital is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was NMS Capital founded?
NMS Capital was founded in 2010. It employs 101 to 250 people.
Where is NMS Capital based?
NMS Capital is headquartered in New York, United States, in the North America region.
How does NMS Capital make money?
Two revenue lines are on record. Management Fees are the primary driver. The others are carried Interest.
Who are NMS Capital's main competitors?
Direct peers on record are Kian Capital Partners, Audax Private Equity, Gryphon Investors, Serent Capital, Brentwood Associates, Huron Capital Partners, Pfingsten Partners, Stellex Capital Management and High Road Capital Partners. BDT & MSD Partners is listed as a broad incumbent.
Does NMS Capital have an API?
No public API is recorded for NMS Capital.
What industry is NMS Capital in?
NMS Capital's product category is Private Equity / Investment Management. Its primary akta.pro industry code is BPAHADAB, Corporate Finance & Capital Advisory. Its NAICS code is 52394 and its SIC code is 6799.