M&A Deal Summary

Norwest Equity Partners and Norwest Mezzanine Partners Acquire Thibaut

On November 10, 2021, private equity firm Norwest Equity Partners and mezzanine finance firm Norwest Mezzanine Partners acquired consumer products company Thibaut from Harbour Group

Acquisition Highlights
  • This is Norwest Equity Partners’ 13th and Norwest Mezzanine Partners’ 14th transaction in the Consumer Products sector.
  • This is Norwest Equity Partners’ 68th and Norwest Mezzanine Partners’ 82nd transaction in the United States.
  • This is Norwest Equity Partners’ 2nd and Norwest Mezzanine Partners’ 4th transaction in New Jersey.

M&A Deal Summary

Date 2021-11-10
Target Thibaut
Sector Consumer Products
Buyer(s) Norwest Equity Partners
Norwest Mezzanine Partners
Sellers(s) Harbour Group
Deal Type Secondary Buyout
Advisor(s) Piper Sandler & Co. (Financial)

Target

Thibaut

Union, New Jersey, United States
Thibaut is an operator of wallpaper and fabric company. Thibaut is a designer and global distributor of branded wallpapers, fabrics, and furniture sold through the interior design channel. Thibaut goes to market through two highly regarded brands, Thibaut and Anna French. Thibaut was founded in 1886 and is based in Union, New Jersey.

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Buyer(S) 2

Buyer

Norwest Equity Partners

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor


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 $50 and $500 million, typically investing $50 to $250 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.


DEAL STATS #
Overall 71 of 75
Sector (Consumer Products) 13 of 14
Type (Secondary Buyout) 26 of 29
State (New Jersey) 2 of 2
Country (United States) 68 of 72
Year (2021) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-25 Coretelligent

Needham, Massachusetts, United States

Coretelligent is a full-service provider of private cloud and end-to-end IT managed services and support to small and midsized businesses, predominantly financial services and life sciences. The company develops innovative technology solutions and provides a full suite of services to ensure clients receive exceptional business performance, data protection, and security. Coretelligent was formed in 2006 and is based in Needham, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-01 GoHealth

Chicago, Illinois, United States

GoHealth is a health insurance marketplace whose mission is to improve access to healthcare in America. The Company's technology platform leverages modern machine-learning algorithms powered by nearly two decades of insurance behavioral data to reimagine the optimal process for helping individuals find the best health insurance plan for their specific needs. GoHealth was founded in 2001 and is based in Chicago, Illinois.

Sell -
Buyer

Norwest Mezzanine Partners

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 2.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Norwest Mezzanine Partners (NMP) is an independent investment firm focused on providing junior capital to support transactions initiated by private equity sponsors. NMP looks to commit up to $50 million per investment. Prospective transaction situations can include buyouts, acquisitions, leveraged buildups or consolidations, recapitalizations, and going privates. NMP will consider opportunities in a wide range of industries, including distribution, manufacturing, healthcare, and consumer products. Norwest Mezzanine Partners is affiliated with private equity firm Norwest Equity Partners. NMP was formed in 2000 and is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 85 of 88
Sector (Consumer Products) 14 of 14
Type (Secondary Buyout) 29 of 31
State (New Jersey) 4 of 4
Country (United States) 82 of 85
Year (2021) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-03 EFC International

St. Louis, Missouri, United States

EFC International is a distributor of highly-engineered specialty fasteners to the automotive and industrial end-markets. EFC International was founded in 1983 and is based in St. Louis, Missouri.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-17 Monroe Truck Equipment

Monroe, Wisconsin, United States

Monroe Truck Equipment specializes in the design, manufacture, distribution, and installation/upfitting of specialized truck equipment for the municipal and commercial markets. Monroe Truck Equipment was founded in 1986 and is based in Monroe, Wisconsin.

Sell -

Seller(S) 1

SELLER

Harbour Group

St. Louis, Missouri, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1976
Size Large
Type Sector Agnostic
DESCRIPTION

Harbour Group is a private investment firm that seeks to invest in companies within the sectors of manufacturing and distribution. The firm pursues companies with EBITDA between $4 million and $50 million, and revenue between $50 million and $100 million. In addition, the firm looks for investments within North America and around the world with enterprise value between $30 million and $500 million. Harbour Group was formed in 1976 and is based in St. Louis, Missouri.


DEAL STATS #
Overall 20 of 23
Sector (Consumer Products) 1 of 1
Type (Secondary Buyout) 7 of 7
State (New Jersey) 1 of 1
Country (United States) 20 of 23
Year (2021) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-03 Nationwide Industries

Tampa, Florida, United States

Nationwide Industries is a designer and manufacturer of quality hardware and components for the building materials industry. Nationwide’s products include a broad line of fence and gate hardware, railing component and infill systems, perimeter security components, custom building materials components sold on an OEM basis, and hardware for the patio industry. Nationwide Industries is based in Tampa, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-03 SP Industries

Warminster, Pennsylvania, United States

SP Industries is a manufacturer of specialty equipment, scientific glassware, and laboratory and lab safety supplies serving the pharmaceutical, biotechnology, educational, industrial, and OEM markets. SP Industries is based in Warminster, Pennsylvania.

Sell -