Norwest Mezzanine Partners Mergers and Acquisitions Summary

Mezzanine Finance Firm Profile

In the last 3 years, Norwest Mezzanine Partners has acquired 10 companies. It has also invested in 1 other.

Norwest Mezzanine Partners’ most common sectors for investment areconsumer products (16%) and manufacturing (12%) . The Firm’s most common investment types include secondary buyout (33%) and buyout (lbo, mbo, mbi) (28%). In total, Norwest Mezzanine Partners has invested in 26 US states and 2 different countries. Its largest (disclosed) acquisition occurred in 2007 when it acquired Woodcraft Industries for $296M.

In the last 3 years, Norwest Mezzanine Partners has exited 8 companies. The Firm’s most common exit type is trade sale (48%). Norwest Mezzanine Partners’ largest (disclosed) exit occurred in 2012 when it sold Liberty Dialysis for $1.7B.

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M&A Summary

  • M&A Total Activity136
    • M&A Buy Activity86
    • M&A Sell Activity50
  • Total Sectors Invested 29
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 68
  • M&A Advisors 1

Norwest Mezzanine Partners

80 South 8th Street, Suite 3600,
Minneapolis, Minnesota 55402
United States
(612) 215-1600
www.nmp.com
info@nmp.com

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.


Investment Criteria

Sectors of Interest: Agriculture, Apparel/Textiles, Automotive, Beverages, Business Services, Chemicals, Construction, Consumer Products, Consumer Services, Distribution, Electronics, Engineering, Environmental, Financial Services, Gaming, Healthcare Services, Life Science, Machinery, Manufacturing, Marketing, Medical Products, Packaging, Plastics, Restaurants, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Going Private, Recapitalization, Stake Purchase

Geographic Preferences: East US, Midwest US, South US, West US

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA 10 -
Investment Size 20 75
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '17 '18 '19 '20 '21 '22 T
Buy (3.6/yr) # 68 7 3 3 3 2 86
vol $992M $992M
Sell (1.8/yr) # 41 1 1 1 4 2 50
vol $5.9B $340M $700M $6.9B
  136

Most Recent M&A

Company Date Value Type
GTA Fleet Solutions, Inc. 2022-07-26 - Buyout (LBO, MBO, MBI)
Markham, Ontario · www.gtafs.ca
United Poly Systems LLC 2022-06-22 - Add-on Acquisition
Springfield, Missouri · www.unitedpolysystems.com
McIntosh Group 2022-06-15 - Buyout (LBO, MBO, MBI)
New York, New York · www.www.mcintoshgroup.com
West Star Aviation LLC 2022-03-02 - Secondary Buyout
East Alton, Illinois · www.weststaraviation.com
Monroe Truck Equipment, Inc. 2021-11-17 - Add-on Acquisition
Monroe, Wisconsin · www.monroetruck.com
Engineered Fastener Co. 2021-11-03 - Secondary Buyout
St. Louis, Missouri · www.efc-intl.com
Career Step LLC 2021-10-13 - Add-on Acquisition
Provo, Utah · www.careerstep.com
Pentec Health, Inc. 2021-10-11 - Secondary Buyout
Glen Mills, Pennsylvania · www.pentechealth.com
Zavation Medical Products LLC 2021-07-07 - Secondary Buyout
Flowood, Mississippi · www.zavation.com
recteq LLC 2021-02-01 - Growth Capital
Evans, Georgia · www.recteq.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
SFERRA Fine Linens LLC 2018-10-09 Brahms Mount 2022-03-30 1
Edison, New Jersey · www.sferra.com Freeport, Maine · www.brahmsmount.com
Benestar Brands 2019-08-05 4505 Meats, Inc. 2022-02-01 2
Chicago, Illinois · www.benestarbrands.com San Francisco, California · www.4505meats.com
Benestar Brands 2019-08-05 Evans Food Group Ltd. 2019-08-05 1
Chicago, Illinois · www.benestarbrands.com Chicago, Illinois · www.evansfood.com
Biamp Systems Corp. 2017-11-30 Cambridge Sound Management, Inc. 2018-12-20 4
Beaverton, Oregon · www.biamp.com Waltham, Massachusetts · www.cambridgesound.com
DBi Services, Inc. 2016-08-05 Digital Traffic Systems, Inc. 2018-07-10 4
Hazleton, Pennsylvania · www.dbiservices.com Albuquerque, New Mexico · www.dtsits.com
DBi Services, Inc. 2016-08-05 Infrastructure Corporation of America 2018-02-01 3
Hazleton, Pennsylvania · www.dbiservices.com Brentwood, Tennessee · www.ica-onramp.com
Encore Rehabilitation Services LLC 2015-01-22 Select Medical Holdings Corp - Contract Therapy Business 2016-03-31 2
Farmington Hills, Michigan · www.encorerehabilitation.net , United States

M&A by Sector

Sector Current # Value All-time # Value
Consumer Products 3 (11%) - 13 (15%) 93M (9%)
Manufacturing 5 (19%) - 10 (12%) -
Automotive 2 (7%) - 7 (8%) -
Healthcare Services 1 (4%) - 6 (7%) -
Medical Products 1 (4%) - 4 (5%) 145M (15%)
Business Services 1 (4%) - 4 (5%) -
Distribution 1 (4%) - 4 (5%) -
Food 2 (7%) - 4 (5%) -
Chemicals - - 3 (3%) 200M (20%)
Apparel/Textiles 2 (7%) - 3 (3%) -
Electronics 2 (7%) - 3 (3%) -
Electrical Equipment 1 (4%) - 2 (2%) 258M (26%)
Aerospace - - 2 (2%) -
Environmental 1 (4%) - 2 (2%) -
Machinery - - 2 (2%) -
Plastics - - 2 (2%) -
Retail 1 (4%) - 2 (2%) -
Software 2 (7%) - 2 (2%) -
Forest Products - - 1 (1%) 296M (30%)
Building Materials - - 1 (1%) -
Defense - - 1 (1%) -
Education 1 (4%) - 1 (1%) -
Financial Services - - 1 (1%) -
Information Technology 1 (4%) - 1 (1%) -
Internet Software and Services - - 1 (1%) -
Marketing - - 1 (1%) -
Packaging - - 1 (1%) -
Restaurants - - 1 (1%) -
Staffing - - 1 (1%) -
Total 27 - 86 $992M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 25 (93%) - 82 (95%) 899M (91%)
  California 3 (11%) - 9 (10%) -
  Michigan 2 (7%) - 7 (8%) -
  New York 3 (11%) - 6 (7%) -
  Minnesota 2 (7%) - 6 (7%) 296M (30%)
  Illinois 1 (4%) - 6 (7%) -
  Pennsylvania 2 (7%) - 4 (5%) -
  Georgia 2 (7%) - 4 (5%) -
  Wisconsin 1 (4%) - 4 (5%) 258M (26%)
  Florida 1 (4%) - 4 (5%) -
  Missouri 2 (7%) - 3 (3%) -
  New Jersey 1 (4%) - 3 (3%) -
  Texas - - 3 (3%) 145M (15%)
  Ohio - - 3 (3%) -
  Tennessee 1 (4%) - 2 (2%) -
  Oregon 1 (4%) - 2 (2%) -
  Iowa - - 2 (2%) 200M (20%)
  Washington - - 2 (2%) -
  Utah - - 2 (2%) -
  Kansas - - 2 (2%) -
  Colorado - - 2 (2%) -
  Oklahoma 1 (4%) - 1 (1%) -
  Mississippi 1 (4%) - 1 (1%) -
  Indiana 1 (4%) - 1 (1%) -
  North Carolina - - 1 (1%) -
  Nevada - - 1 (1%) -
  Massachusetts - - 1 (1%) -
Canada 2 (7%) - 4 (5%) 93M (9%)
  Ontario 2 (7%) - 4 (5%) 93M (9%)
Domestic 25 (93%) - 82 (95%) 899M (91%)
Cross-border 2 (7%) - 4 (5%) 93M (9%)
Total 27 - 86 $992M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 13 (48%) - 28 (33%) 496M (50%)
Buyout (LBO, MBO, MBI) 8 (30%) - 24 (28%) -
Recapitalization 1 (4%) - 12 (14%) 145M (15%)
Growth Capital 3 (11%) - 10 (12%) -
Divestiture 1 (4%) - 6 (7%) 258M (26%)
Stake Purchase - - 4 (5%) -
Going Private - - 1 (1%) 93M (9%)
Consolidation 1 (4%) - 1 (1%) -
Total 27 - 86 $992M

Exits by Deal Type

Type Total # Value
Secondary Sale 22 (44%) 1.0B (15%)
Trade Sale - Public Company 15 (30%) 5.9B (85%)
Trade Sale 9 (18%) 24M (< 1%)
Merger 2 (4%) -
IPO 1 (2%) -
Recapitalization 1 (2%) -
Total 50 $6.9B

Top M&A Advisors

Legal Deals
Ropes & Gray LLP
 1

Deal Values

buy # Total
$100M to $1B 4 $899M
< $100M 1 $93M
TOTAL $992M
Largest Woodcraft Industries, Inc.
$296M (2007-01-10)
sell # Total
> $1B 2 $2.9B
$100M to $1B 11 $4.0B
< $100M 1 $24M
TOTAL $6.9B
Largest Liberty Dialysis LLC
$1.7B (2012-02-28)

M&A Connections

Deals
Acquired from
Investor(s)
36%
31 (36%)
Strategic(s)
6%
5 (6%)
Exited to
Investor(s)
44%
22 (44%)
Strategic(s)
52%
26 (52%)

Investor Summary

Investor Type

Mezzanine Finance Firm

Size

Large

PE Assets

2.2B USD

Established

2000

Specialist/Generalist

Generalist

Leadership

Carter Balfour

Partner

John Hogan

Partner

Sean Stevens

Partner

Shani Graber

Principal

Gabe Segal

Vice President

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