#USA #Boca Raton #New Water Capital #Nelson Miller #New England Keyboard

New Water Capital Strengthens Portfolio with Acquisition of NEK

In a pivotal move showcasing its commitment to enhancing its portfolio, New Water Capital Partners II L.P. announced the acquisition of New England Keyboard, Inc. (NEK) by its portfolio company, Nelson Miller Group (NMG). This acquisition, which took place on June 17, 2025, represents a significant milestone, marking the fourth addition to the firm’s investment strategy since it first invested in NMG in 2021.

Based in Boca Raton, Florida, New Water Capital specializes in private equity investments focused on lower-middle-market companies. The firm aims to bolster its portfolio through strategic acquisitions that enhance operational capacities and market reach. NMG, a full-service provider of engineering, manufacturing, and supply chain solutions, has now integrated NEK into its structure, significantly broadening its expertise in Human Machine Interface (HMI) applications.

Established in 1986 by founders Dave Myers and Mark Yates, NEK is celebrated for its high-quality, engineered components and assemblies. The firm specializes in serving sectors that demand high reliability, such as defense, medical, and semiconductor manufacturing. NEK’s product offerings include ruggedized keyboards, membrane switches, flexible circuits, and comprehensive user interfaces. This aligns seamlessly with NMG's focus and capabilities, providing a robust platform from which to serve customers across various high-demand sectors.

Matt Carlos, a Principal at New Water, expressed strong enthusiasm for the acquisition, highlighting NEK's established reputation and customer relationships as ideal complements to NMG. He stated, "NEK's expertise in high-reliability sectors is perfectly aligned with our goals at NMG, and together we can tackle complex engineering and manufacturing challenges more effectively."

Rich Fitzgerald, the CEO of NMG, further elaborated on the benefits of the acquisition. He remarked, "This is a significant step in expanding our capabilities in defense and aerospace industries, enabling us to offer a wider array of solutions as well as world-class engineering support and global manufacturing resources. We are thrilled to welcome NEK’s skilled team into the NMG family."

The excitement around this acquisition is palpable. “We are proud of what we have built at NEK over nearly four decades,” expressed co-founder Dave Myers. “Aligning ourselves with Nelson Miller Group feels like a natural progression that will unlock new opportunities for both our customers and our employees.” Myers underscored the shared commitment between NMG and NEK in prioritizing quality and service, crucial in sustaining future success.

This acquisition is New Water Capital’s fifth strategic investment in their platform, previously acquiring notable entities including Nelson Miller Group, Chainlogix, Injection Works, and Pannam Imaging. The firm prides itself on a partnership model designed to foster collaboration with management teams and embrace the unique strengths intrinsic to each business.

About New Water Capital

New Water Capital L.P. is a leading private equity firm focused on collaborating with lower-middle market industrial manufacturing and related supply chain businesses, typically generating revenues between $30 million to $300 million. Their approach centers on enhancing the unique cultures and operational strengths of their partnered businesses. For further insights, you can visit their website.

About Nelson Miller Group

Nelson Miller Group caters to a diverse range of industries, including IoT, telecommunications, and medical sectors. They provide tailored engineering solutions and quality manufacturing services to OEMs and SMEs, boasting a solid reputation for reliability and customer-centric operations. More details are available on their website.

About New England Keyboard

New England Keyboard, Inc. excels in the design and manufacture of customized keyboards and related components. Their extensive experience in the industry makes them a valuable addition to Nelson Miller Group, ensuring innovation and quality for their customers. To learn more, visit their website.