NMS Capital Announces Recent Promotions

New York, NY, June 10, 2026 - NMS Capital ("NMS"), a leading private equity firm focused on investments within Business Services and Healthcare Services, today announced several updates to its investment team, reflecting the firm's continued growth across its Business Services and Healthcare Services platforms. The promotions and new hires support NMS' strong recent momentum, including 6 portfolio exits and 4 new platform portfolio investments in the last 6 quarters.

Within Business Services, NMS is pleased to announce the promotion of Kevin Formica to Managing Director, effective December 2025, and the promotion of Rukun Goel and Colin Moran to Vice President, effective June 2026. The firm also welcomed Kevin Liss as Vice President in November 2025. Mr. Formica, Mr. Goel, Mr. Moran and Mr. Liss are involved in identifying and evaluating investment opportunities, conducting due diligence, and monitoring the firm's Business Services portfolio companies.

Mr. Formica joined NMS as a Vice President in April 2025 and was promoted to Managing Director in December 2025, at which time he also joined the firm's Investment Committee. Mr. Formica brings more than 10 years of private equity experience in the Business Services arena, having most recently worked at Harvest Partners Ascend and previously at CIP Capital where he worked with Daniel Schwartz for 7 years.

Mr. Goel joined NMS in 2024 as a Senior Associate having previously worked at Boston Consulting Group. Mr. Moran joined NMS in 2022 as an Associate having previously worked at Solomon Partners and Webster Bank. Mr. Liss joined NMS in 2025 as a Vice President, having previously worked at Clarion Capital Partners and Credit Suisse.

"These promotions and additions to the team reflect the continued growth and evolution of our Business Services group," said Daniel Schwartz, Partner and Head of Business Services at NMS Capital. "Each brings a strong combination of investment experience and analytical rigor that has already contributed meaningfully to our portfolio, and we are excited about the role they will play as we continue to build out our Business Services platform."

On the Healthcare Services team, Colin Durney was promoted to Principal in December of 2025. In 2019 Mr. Durney joined NMS as an Associate from the Healthcare Investment Banking Group at BMO Capital Markets. "Mr. Durney is a key member of the Healthcare Services team at NMS. Since joining 7 years ago, he has consistently demonstrated excellent judgement and character" remarked Luis Gonzalez, Senior Partner and Head of Healthcare Services at NMS Capital.

NMS is also pleased to announce the promotion of Chris Wallis to Senior Vice President of Finance, effective January 2026. Mr. Wallis is involved in all aspects of the firm's financial, tax, and performance reporting. Mr. Wallis joined NMS in 2021 as Vice President bringing more than 15 years of private equity accounting experience, having previously worked at Alter Domus and Oak Hill Advisors. "Chris has been an integral part of our finance team since joining NMS, playing a central role in building out the infrastructure and processes that underpin how we report to our investors. This promotion reflects both the quality of his work and the leadership he has demonstrated in that effort." said Jim Wilson, Partner and CFO of NMS Capital.

About NMS Capital:
Founded in 2010, NMS Capital is an experienced private equity firm managing assets in excess of $2.0 billion. Since inception, NMS has partnered with management teams in over 150 investments and follow-on acquisitions across defined investment themes within the Business Services and Healthcare Services industries. 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. NMS has successfully built industry leading lower middle market companies in defensible and scalable end markets by accelerating organic and acquisition-driven growth.

For additional information on NMS, please visit the firm's website at https://www.nms-capital.com. Follow NMS Capital on https://www.linkedin.com/company/nms-capital.