M&A Deal Summary

KKR Acquires Minnesota Rubber & Plastics

On October 12, 2018, private equity firm KKR acquired plastics company Minnesota Rubber & Plastics from Norwest Equity Partners

Acquisition Highlights
  • This is KKR’s 1st transaction in the Plastics sector.
  • This is KKR’s 129th transaction in the United States.
  • This is KKR’s 5th transaction in Minnesota.
Investment Fate
  • Minnesota Rubber & Plastics was sold to a publicly-traded strategic buyer in 2022.

M&A Deal Summary

Date 2018-10-12
Target Minnesota Rubber & Plastics
Sector Plastics
Buyer(s) KKR
Sellers(s) Norwest Equity Partners
Deal Type Secondary Buyout
Advisor(s) Houlihan Lokey (Financial)
Skadden, Arps, Slate, Meagher & Flom LLP
Ballard Spahr LLP (Legal)

Target

Minnesota Rubber & Plastics

Minneapolis, Minnesota, United States
website
Minnesota Rubber & Plastics is a full-service provider of high-value rubber and plastic molded components and assembly solutions. MRP offers highly engineered elastomer and thermoplastic solutions for medical, water, industrial, and other end markets globally. Minnesota Rubber and Plastics was founded in 1945 and is based in Minneapolis, Minnesota.

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Buyer(S) 1

Buyer

KKR

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1976
PE ASSETS 510.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.


DEAL STATS #
Overall 287 of 426
Sector (Plastics) 1 of 1
Type (Secondary Buyout) 59 of 100
State (Minnesota) 5 of 6
Country (United States) 129 of 187
Year (2018) 30 of 35
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-11 SkinSpirit

Palo Alto, California, United States

SkinSpirit is a provider of aesthetic skin and body care services with multiple locations in California and Washington. SkinSpirit was formed in 2003 and is headquartered in Palo Alto, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-26 Epic Games

Cary, North Carolina, United States

Epic Games is a publisher of interactive games and developer of the software platforms used for game development and high-end graphics rendering. Epic Games was founded in 1991 and is based in Cary, North Carolina.

Buy -

Seller(S) 1

SELLER

Norwest Equity Partners

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1961
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Norwest Equity Partners (NEP) is a private equity firm focused on investing in growing and profitable middle-market companies. NEP targets investments in businesses valued between $30 and $250 million, typically providing $50 to $500 million of capital per investment. Funds are typically used to fund management buyouts, recapitalizations, and growth financing. Sectors of interest include manufacturing, distribution, healthcare, technology/business services, and consumer products/services. NEP is affiliated with Norwest Mezzanine Partners, an investment partnership focused on providing junior capital to middle-market companies. Norwest Equity Partners is based in Minneapolis, Minnesota and has office in New York City.


DEAL STATS #
Overall 38 of 50
Sector (Plastics) 2 of 2
Type (Secondary Buyout) 16 of 23
State (Minnesota) 8 of 11
Country (United States) 37 of 49
Year (2018) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-03 Institute for Integrative Nutrition

New York, New York, United States

Institute for Integrative Nutrition is a professional health coaching certification program providing a global learning experience through its innovative online learning platform for approximately 100,000 students and graduates in over 150 countries worldwide. Institute for Integrative Nutrition was founded in 1992 and is based in New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-05 Actagro

Biola, California, United States

Actagro LLC is a developer, manufacturer, and marketer of environmentally sustainable soil and plant health products and technologies. Actagro’s premier commercial portfolio includes approximately 30 specialty products that have a strong track-record of increasing crop productivity and financial returns for growers.

Sell $340M