American Securities with over $27bn AUM acquires NWN Carousel from New State Capital Partners

American Securities, a New York-based private equity firm with over $27bn in AUM, has acquired NWN Carousel, a provider of cloud communications services, from middle market private equity firm New State Capital Partners.

Financial terms of the transaction have not been disclosed.

New State first invested in NWN Carousel in 2015. Under New State’s ownership, the provider tripled gross revenue to over $900m and was included in Inc 5000’s annual list of fastest growing private companies in the US for 2022 and 2023. According to a press release, NWN Carousel supports thousands of CIOs and IT leaders across the public and private sector to deliver hybrid workplace solutions for their employees through its integrated service offerings and proprietary Experience Management Platform.