NWN Corporation, then branded NWN Carousel, announced on February 6, 2024, that ownership was transitioning from New State Capital Partners to affiliates of American Securities. The companies described the deal as a financial partnership but did not disclose its terms, so no purchase price is public in the announcement. NWN also promoted a “$100B+” opportunity in hybrid, AI-enabled workplace services; that figure is the company’s estimate, not an independently validated market size.
Who acquired NWN Carousel?
On February 6, 2024, NWN Corporation announced a financial partnership with American Securities and a transition of ownership from New State Capital Partners to American Securities affiliates. The announcement did not disclose the purchase price or other financial terms. American Securities’ announcement described the transition; it should not be read as evidence of a disclosed transaction value.
American Securities said it and its affiliates had more than $27 billion under management in 2024. That is firm-level context, not the price paid for NWN. The announcement characterized the buyer as American Securities affiliates, rather than specifying a single acquisition vehicle.
What does NWN do?
NWN sells enterprise technology and managed services spanning communications, contact centers, cybersecurity, workplace collaboration, devices, and cloud. In its 2024 announcement, NWN listed Next-Gen Unified Communications, AI-Enabled Cloud Contact Centers, Managed Cybersecurity Services, Advanced Technology Solutions, Visual Collaboration and Workspace, and Device-as-a-Service.
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The company’s Experience Management Platform (EMP) is part of its service-management proposition. NWN said it connects endpoints and networks with collaboration applications, analytics, IT asset management, and cost optimization while simplifying management across multiple cloud environments. These are company descriptions, not independent assessments of platform performance.
In a CRN interview, NWN President and CEO Jim Sullivan described EMP as a management platform for unified communications as a service (UCaaS), contact centers, and customer devices, including customer self-provisioning, reports, and analytics. NWN Chief Marketing Officer Andrew Gilman characterized it as providing multicloud and hybrid-cloud integration and observability, saying: “EMP is providing multicloud and hybrid cloud services integration and full observability for customers to achieve the business outcomes they need to be successful and now we are taking it into the AI era.” Those remarks are vendor claims, not independent evaluations. (CRN interview, February 2024)
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The portfolio has evolved through acquisitions and integration. In September 2021, NWN said its integration of Carousel was complete and described a portfolio encompassing unified communications, contact center, security, intelligent offices and visual collaboration, devices, and advanced technology solutions. (NWN, September 13, 2021)
What does “$100B+ AI flexible workspaces market” mean?
NWN’s February 2024 announcement used the phrase “$100B+ Market in Hybrid, AI-Enabled Flexible Workplace Services.” Sullivan separately described the six offerings as addressing a $100 billion North American market in his CRN interview. These are NWN’s positioning and management’s estimate. The cited materials do not define the market’s boundaries, explain its calculation, state a forecast period, or provide an independent estimate. The figure therefore should not be treated as an established measure of the market’s size.
“Takes aim” describes NWN’s strategy, not a completed market position. Sullivan discussed expanding through mergers and acquisitions, widening geographic coverage, adding services, and increasing EMP adoption. The available statements describe plans rather than measured results.
What growth did NWN report, and what was its target?
NWN reported in 2024 that, under New State Capital Partners, it had tripled gross revenue to more than $900 million. The same announcement listed over 5,000 customers, a client Net Promoter Score (NPS) above 70, and an employee eNPS above 80. These are company-reported figures from 2024, not current independently audited measurements. (American Securities, February 6, 2024)
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In the CRN interview, Sullivan said American Securities offered the opportunity to triple the company again to $3 billion within four years. He said: “With the size, scale, experience and just great reputation of American Securities we have the opportunity to triple the company once again to $3 billion in the next four years.” This was a management projection made in 2024, not evidence that NWN achieved the target.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What has NWN said about its services since the deal?
In a February 2026 announcement, NWN said its expanded Intelligent Cloud services support AWS, Microsoft Azure, and hybrid environments, with select services available through AWS Marketplace. That announcement establishes the stated service and marketplace availability; it does not establish an ownership, referral, or affiliate arrangement with Amazon. (NWN, February 26, 2026)
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NWN’s website, accessed October 4, 2026, lists Intelligent Workplace, Managed Devices, Cybersecurity, Connectivity, Intelligent Cloud, and Strategic AI. These are the company’s current service categories, not independent evaluations. Its leadership page refers to the American Securities partnership in 2024, but the materials cited here do not independently confirm beneficial ownership as of October 4, 2026. (NWN services overview; NWN leadership)
Quick Recap
What the announcement does—and does not—establish
- Established: NWN announced a transition from New State Capital Partners to American Securities affiliates on February 6, 2024.
- Not disclosed: The announcement gave no acquisition price or other deal terms.
- Attributed estimate: The $100B+ workplace-services opportunity is NWN’s claim; the cited sources supply no underlying market definition or independent validation.
- Not a verified outcome: The $3 billion revenue figure was Sullivan’s four-year goal stated in 2024.
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