Advent International reports 0% NCS stake

The amended 13G confirms Advent-affiliated entities now hold 5% or less of NCS Multistage shares, reporting 0 shares and no voting or dispositive power.

Rhea-AI Filing Summary

NCS Multistage Holdings, Inc. (NCSM) received an amended Schedule 13G indicating that investment entities affiliated with Advent International no longer beneficially own its common stock. Advent International, L.P., Advent International GP, LLC, and Advent-NCS Acquisition Limited Partnership each report 0 shares beneficially owned and 0.00% of the outstanding common stock.

The Advent entities also report no sole or shared voting power and no sole or shared dispositive power over NCS Multistage’s common stock. The amendment confirms that the group now has ownership of 5 percent or less of the class, effectively exiting its reportable beneficial ownership position.

Key Figures

Beneficially owned shares: 0 shares Percent of class: 0.00% Sole voting power: 0.00 +3 more

6 metrics

Beneficially owned shares 0 shares Reported by each Advent reporting person for NCS Multistage common stock

Percent of class 0.00% Reported ownership percentage of NCS Multistage common stock

Sole voting power 0.00 Shares over which Advent reporting persons have sole voting power

Shared voting power 0.00 Shares over which Advent reporting persons have shared voting power

Sole dispositive power 0.00 Shares over which Advent reporting persons have sole dispositive power

Shared dispositive power 0.00 Shares over which Advent reporting persons have shared dispositive power

Key Terms

beneficially owned, Sole Voting Power, Shared Dispositive Power, Ownership of 5 percent or less of a class, +1 more

5 terms

beneficially owned financial

"Amount beneficially owned: See response to row 9 on each cover page"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Sole Voting Power financial

"5 | Sole Voting Power 0.00 6 | Shared Voting Power 0.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

Shared Dispositive Power financial

"8 | Shared Dispositive Power 0.00 9 0.00"

Ownership of 5 percent or less of a class regulatory

"Item 5. | Ownership of 5 Percent or Less of a Class."

Schedule 13G regulatory

"Ownership of 5 Percent or Less of a Class. | Ownership of 5 percent or less"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does this Schedule 13G/A filing mean for NCSM?

It shows that Advent International, L.P. and related entities report 0 shares of NCS Multistage Holdings, Inc. common stock beneficially owned and 0.00% of the class, indicating they no longer have a reportable ownership stake under the 5% threshold.

How much of NCS Multistage (NCSM) does Advent International now own?

Advent International, L.P., Advent International GP, LLC, and Advent-NCS Acquisition Limited Partnership each report beneficial ownership of 0 shares and 0.00% of NCS Multistage’s common stock, with no sole or shared voting or dispositive power.

What is the significance of "Ownership of 5 percent or less" for NCSM?

The filing states "Ownership of 5 percent or less of a class," meaning the Advent-related reporting persons’ holdings have fallen below the 5% threshold that requires Schedule 13D/13G reporting as significant beneficial owners.

Who are the reporting persons in this NCSM Schedule 13G/A?

The reporting persons are Advent International, L.P., Advent International GP, LLC, and Advent-NCS Acquisition Limited Partnership, which jointly filed the statement regarding prior holdings of NCS Multistage’s common stock.

Do Advent entities still have voting or dispositive power over NCSM shares?

No. Each Advent-related reporting person reports 0.00 sole voting power, 0.00 shared voting power, 0.00 sole dispositive power, and 0.00 shared dispositive power with respect to NCS Multistage’s common stock.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/01/2026 - 06:32 PM EDT Accepted by SEC EDGAR 09/01/2026 - 06:31 PM EDT Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

NCS Multistage Holdings, Inc.

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

628877201

(CUSIP Number)

09/01/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 628877201

1

Names of Reporting Persons

ADVENT INTERNATIONAL, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.00 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 628877201

1

Names of Reporting Persons

Advent International GP, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.00 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP Number(s): 628877201

1

Names of Reporting Persons

Advent-NCS Acquisition Limited Partnership

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.00 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: NCS Multistage Holdings, Inc.
(b)	Address of issuer's principal executive offices: 19350 State Highway 249, Suite 600, Houston, Texas 77070
Item 2.
(a)	Name of person filing: This Statement is being jointly filed by each of the persons below on behalf of various funds and accounts (which may have been included on prior Statements filed with respect to the Issuer) controlled or managed by such persons, whom together are referred to herein as the "Reporting Persons": (i) Advent International, L.P.; (ii) Advent International GP, LLC; and (iii) Advent-NCS Acquisition Limited Partnership.
(b)	Address or principal business office or, if none, residence: Prudential Tower, 800 Boylston Street, Boston, Massachusetts 02199
(c)	Citizenship: See response to row 4 on each cover page hereto.
(d)	Title of class of securities: Common Stock, par value $0.01 per share
(e)	CUSIP No.: 628877201
Item 4.	Ownership
(a)	Amount beneficially owned: See response to row 9 on each cover page hereto.
(b)	Percent of class: See response to row 11 on each cover page hereto.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See response to row 5 on each cover page hereto.
	(ii) Shared power to vote or to direct the vote: See response to row 6 on each cover page hereto.
	(iii) Sole power to dispose or to direct the disposition of: See response to row 7 on each cover page hereto.
	(iv) Shared power to dispose or to direct the disposition of: See response to row 8 on each cover page hereto.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.	Certifications:
	Not Applicable

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

ADVENT INTERNATIONAL, L.P.

Signature:	/s/ Neil Crawford
Name/Title:	Neil Crawford / Senior Director, Fund Administration of Advent International GP, LLC, its General Partner
Date:	09/01/2026

Advent International GP, LLC

Signature:	/s/ Neil Crawford
Name/Title:	Neil Crawford / Senior Director, Fund Administration
Date:	09/01/2026

Advent-NCS Acquisition Limited Partnership

Signature:	/s/ Neil Crawford
Name/Title:	Neil Crawford / Senior Director, Fund Administration of Advent-NCS GP LLC, its General Partner
Date:	09/01/2026

Exhibit Information

99.1 Joint Filing Agreement, dated September 1, 2026