Vertical Management Systems Acquired By NewSpring Holdings

Pasadena-based Vertical Management Systems, a developer of financial technology and software for managing fiduciary risk, fee transparency, and revenue reconciliation, has been acquired by NewSpring Holdings. Financial terms of the acquisition were not disclosed. Vertical Management Systems (VMS) provides its software to large financial institutions. VMS was advised by Broadhaven Capital partners and Kunzler Law Group; NewSpring Holdings was advised by Blank Rome LLP.