Wellspring Capital Management, a $2 billion private equity firm based in New York City
Davis (1927-1999) was best known for his role in restructuring Gulf and Western Industries into Paramount Communications.
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Lionel changed hands again in 1995, when Kughn sold controlling interest in the company to an investment group that included Neil Young (a longtime fan of model trains and of this brand) and the holding company Wellspring Capital Management, which was headed by former Paramount Communications (formerly Gulf+Western) chairman Martin Davis (he had left the board of Viacom, which bought Paramount the previous year).