New Firm Identity Reflects 30-Year Legacy of Uncovering Value
and Driving Continued Growth Across Firm and Portfolio
NEW YORK – October 15, 2025 – Revelar Capital (“Revelar” or the “Firm”) today announced its launch as the rebranded identity for Wellspring Capital Management. Revelar will continue to invest exclusively in healthcare services, business services, and specialty manufacturing. The Firm’s new identity reflects its team’s enduring commitment to revealing value and driving growth for its investors and across its portfolio.
The rebrand follows a year of significant momentum for the Firm, including substantial headcount growth and the acquisitions of Summit Spine & Joint Centers, CNS Cares, Pinnacle Service Brands, and Batteries Plus. The Firm leverages its sector specialization in complex, fragmented industries to identify and execute on overlooked investment opportunities, partnering with management teams to unlock growth opportunities through strategic initiatives, operational improvements, and further investment in M&A and talent.
“We are thrilled to reintroduce our firm as Revelar Capital—a name that captures our longstanding focus on uncovering potential and driving long term value creation,” said John Morningstar, Managing Partner at Revelar. “After a year of growth, momentum, and transformation, this new brand represents who we are today, with an expanded team, a new generation of leadership and a sharpened investment focus that has enabled us to become a partner of choice for high-potential businesses across our core sectors. Revelar captures our commitment to continuous improvement, while also honoring the legacy of partnership, performance, and purpose we’ve built over the past 30 years and our disciplined approach that continues to set us apart.”
“This is a pivotal moment for Revelar, as we continue to see unprecedented levels of activity across our firm, even as the broader market faces a series of headwinds,” said Naishadh Lalwani, Managing Partner at Revelar. “Our team’s strong culture of creativity and collaboration, combined with our deep sector insight and repeatable value creation framework, allows us to pursue a range of attractive opportunities others may overlook. Embracing complexity is central to the Revelar approach, and we are confident it will remain key to unlocking long-term value.”
“The transition to Revelar marks a natural evolution for our team as we continue to deepen our sector specialization in healthcare services, business services, and specialty manufacturing,” said Matthew Harrison, Managing Partner at Revelar. “Since our founding thirty years ago, we have been responsible stewards of our investors’ capital. As we enter this next chapter, John, Nash, and I are proud to build on that legacy and continue partnering with exceptional businesses and deliver lasting impact across industries.”
Revelar is led by a leadership team of Mr. Morningstar, Mr. Harrison, Mr. Lalwani, as well as Partner Ryan Dowd, who have an average tenure of 16 years at the Firm. Together, they have raised more than $6 billion in capital commitments across over 10 funds. The firm’s portfolio companies today generate $4 billion in revenue and employ 60,000 individuals.
About Revelar Capital
Revelar is a leading private equity firm headquartered in New York which invests exclusively across the healthcare services, business services, and specialty manufacturing sectors. The Firm leverages its sector specialization in complex, fragmented industries to identify and execute on overlooked investment opportunities, partnering with management teams to unlock growth through strategic initiatives, operating improvements, and add‐on acquisitions. The firm functions as a strategic partner, providing management teams with top‐line support, M&A experience, financial expertise and access to resources. For additional information, please visit revelarcapital.com.
Contact
Alexander Wolfsohn
Joele Frank, Wilkinson Brimmer Katcher
212.355.4449