New Water Portfolio Company Nelson Miller Group Acquires New England Keyboard, Inc.

BOCA RATON, Fla., June 17, 2025 /PRNewswire/ -- New Water Capital Partners II L.P. ("New Water" or "the Firm"), a Boca Raton-based private equity investment firm focused on lower-middle market companies, today announced that portfolio company Nelson Miller Group ("NMG") has acquired New England Keyboard, Inc. ("NEK"). The acquisition marks the fourth add-on to the platform since New Water's initial investment in 2021.

Nelson Miller Group is a full-service provider of engineering, manufacturing and supply chain solutions for OEM customers across medical, aerospace and industrial end-markets, with a special focus on supporting Human Machine Interface ("HMI") applications. New England Keyboard, which was founded in 1986 by Dave Myers and Mark Yates, is a manufacturer of highly-engineered components and assemblies for customers in sectors such as defense, medical, and semiconductor manufacturing, among others. Similar to Nelson Miller, NEK shares a focus on supporting Human Machine Interface applications with products that include ruggedized keyboards, membrane switches, flexible circuits and fully-assembled user interfaces and control panels.

"NEK's expertise and strong customer relationships in high-reliability sectors are a perfect complement to NMG's platform," said Matt Carlos, Principal at New Water. "This transaction underscores our commitment to building a best-in-class HMI solutions provider that is able to address complex challenges in design, engineering, manufacturing, and supply chain management."

"This acquisition represents a significant step in expanding our capabilities and deepening our presence in industries like defense and aerospace. Together, we'll be able to offer even more value to customers through a broader portfolio of solutions, world-class engineering support, and global manufacturing resources," said Rich Fitzgerald, CEO of Nelson Miller Group. "We are excited to welcome NEK's talented team to the NMG family."

"We are proud of what we have built at NEK over nearly four decades," said Dave Myers, co-founder of New England Keyboard. "Joining forces with Nelson Miller Group is a natural next step for the business that will provide our customers and employees with new opportunities and access to a broader network of resources and solutions. We are confident that our shared commitment to providing best-in-class quality and customer service in all that we do will drive continued success."

The acquisition of New England Keyboard represents New Water's fifth investment in the platform, following acquisitions of Nelson Miller, Chainlogix, Injection Works, and Pannam Imaging.

About New Water Capital
New Water Capital L.P. is a private equity firm focused on partnering with lower-middle market, industrial manufacturing and related supply chain businesses with revenues of $30 million to $300 million. New Water Capital's collaborative transaction and operating model is built specifically to support companies in transition by partnering with management teams and founders to build on the unique cultures and strengths of their respective businesses. For more information, please visit www.newwatercap.com.

About Nelson Miller Group
Nelson Miller Group serves organizations across industrial, IoT, telecommunications, lighting, medical, consumer, and aerospace industries. It delivers components and services for OEMs and SMEs needing support with custom engineering design, quality manufacturing services, and end-to-end supply chain management. The company prides itself on its integrity and exceptional customer care as it creates winning solutions across the entire supply chain, from design to delivery. For more information, please visit www.nelsonmillergroup.com.

About New England Keyboard
New England Keyboard, Inc. is an engineering and design company specializing in the design and manufacture of custom keyboards, keypads, and membrane switch keyboards, including custom electronics and enclosures. In addition to its data entry products, the company offers a large variety of custom components. For more information, please visit www.newenglandkeyboard.com.

Contact
Daniel Yunger / Simone Leung
Kekst CNC
(212) 521-4800
daniel.yunger@kekstcnc.com / simone.leung@kekstcnc.com

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SOURCE New Water Capital