Norwest Mezzanine Partners Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Norwest Mezzanine Partners has acquired 13 companies. It has also invested in 2 others.

Norwest Mezzanine Partners’ most common sectors for investment are manufacturing (13%) and consumer products (13%). The Firm’s most common investment types include secondary buyout (33%) and buyout (lbo, mbo, mbi) (27%). In total, Norwest Mezzanine Partners has invested in 28 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 4 companies. The Firm’s most common exit type is trade sale (47%). 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 Activity128
    • M&A Buy Activity83
    • M&A Sell Activity45
  • Total Sectors Invested 31
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 66
  • 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 ≤ '16 '17 '18 '19 '20 '21 T
Buy (3.8/yr) # 64 4 7 3 3 2 83
vol $992M $992M
Sell (1.2/yr) # 39 2 1 1 1 1 45
vol $5.9B $340M $700M $6.9B
  128

Most Recent M&A

Company Date Value Type
Zavation Medical Products LLC 2021-07-07 - Secondary Buyout
Flowood, Mississippi · www.zavation.com
recteq LLC 2021-02-01 - Growth Capital
Marietta, Georgia · www.recteq.com
Pet Supplies Plus LLC 2021-01-25 700M USD Add-on Acquisition
Livonia, Michigan · www.petsuppliesplus.com
Red Monkey Foods, Inc. 2020-12-11 - Secondary Buyout
Springfield, Missouri · www.redmonkeyfoods.com
Newterra Ltd. 2020-11-02 - Secondary Buyout
Brockville, Ontario · www.newterra.com
Chicago Custom Foods LLC 2020-05-05 - Add-on Acquisition
Elk Grove Village, Illinois · www.kernelseasons.com
Competition Cams, Inc. 2020-02-05 - Buyout (LBO, MBO, MBI)
Memphis, Tennessee · www.compcams.com
ECM Industries LLC 2019-12-23 - Secondary Buyout
New Berlin, Wisconsin · www.ecmindustries.com
Benestar Brands 2019-08-05 - Consolidation
Chicago, Illinois · www.benestarbrands.com
United Poly Systems LLC 2019-06-11 - Buyout (LBO, MBO, MBI)
Springfield, Missouri · www.unitedpolysystems.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
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
Career Step LLC 2015-02-03 Panacea Healthcare Solutions - Revenue Capture and Coding & Documentation Division 2017-02-02 5
Provo, Utah · www.careerstep.com Saint Paul, Minnesota
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 2 (7%) - 10 (12%) -
Manufacturing 6 (21%) - 10 (12%) -
Automotive 3 (10%) - 7 (8%) -
Healthcare Services 2 (7%) - 6 (7%) -
Medical Products 2 (7%) - 5 (6%) 145M (15%)
Apparel/Textiles 2 (7%) - 5 (6%) 93M (9%)
Food 2 (7%) - 4 (5%) -
Chemicals - - 3 (4%) 200M (20%)
Business Services - - 3 (4%) -
Distribution - - 3 (4%) -
Electrical Equipment 1 (3%) - 2 (2%) 258M (26%)
Aerospace 1 (3%) - 2 (2%) -
Education 2 (7%) - 2 (2%) -
Environmental 1 (3%) - 2 (2%) -
Plastics - - 2 (2%) -
Retail 1 (3%) - 2 (2%) -
Forest Products - - 1 (1%) 296M (30%)
Building Materials - - 1 (1%) -
Construction - - 1 (1%) -
Defense - - 1 (1%) -
Electronics - - 1 (1%) -
Financial Services - - 1 (1%) -
Information Technology 1 (3%) - 1 (1%) -
Infrastructure 1 (3%) - 1 (1%) -
Machinery - - 1 (1%) -
Marketing - - 1 (1%) -
Packaging - - 1 (1%) -
Restaurants - - 1 (1%) -
Software 1 (3%) - 1 (1%) -
Staffing - - 1 (1%) -
Technology Hardware 1 (3%) - 1 (1%) -
Total 29 - 83 $992M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 28 (97%) - 80 (96%) 899M (91%)
  California 4 (14%) - 10 (12%) -
  Michigan 2 (7%) - 7 (8%) -
  Minnesota 1 (3%) - 5 (6%) 296M (30%)
  Illinois 1 (3%) - 5 (6%) -
  Pennsylvania 3 (10%) - 4 (5%) -
  Wisconsin 2 (7%) - 4 (5%) 258M (26%)
  Georgia 2 (7%) - 4 (5%) -
  Florida 1 (3%) - 4 (5%) -
  New York 1 (3%) - 4 (5%) -
  Colorado 1 (3%) - 3 (4%) -
  Texas - - 3 (4%) 145M (15%)
  Ohio - - 3 (4%) -
  Missouri 2 (7%) - 2 (2%) -
  Utah 1 (3%) - 2 (2%) -
  Tennessee 1 (3%) - 2 (2%) -
  Oregon 1 (3%) - 2 (2%) -
  Iowa - - 2 (2%) 200M (20%)
  Washington - - 2 (2%) -
  New Jersey - - 2 (2%) -
  Kansas - - 2 (2%) -
  Indiana 1 (3%) - 1 (1%) -
  Oklahoma 1 (3%) - 1 (1%) -
  Mississippi 1 (3%) - 1 (1%) -
  Maryland 1 (3%) - 1 (1%) -
  Maine 1 (3%) - 1 (1%) -
  North Carolina - - 1 (1%) -
  Nevada - - 1 (1%) -
  Massachusetts - - 1 (1%) -
Canada 1 (3%) - 3 (4%) 93M (9%)
  Ontario 1 (3%) - 3 (4%) 93M (9%)
Domestic 28 (97%) - 80 (96%) 899M (91%)
Cross-border 1 (3%) - 3 (4%) 93M (9%)
Total 29 - 83 $992M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 14 (48%) - 27 (33%) 496M (50%)
Buyout (LBO, MBO, MBI) 7 (24%) - 22 (27%) -
Recapitalization 2 (7%) - 12 (14%) 145M (15%)
Growth Capital 4 (14%) - 10 (12%) -
Divestiture 1 (3%) - 6 (7%) 258M (26%)
Stake Purchase - - 4 (5%) -
Going Private - - 1 (1%) 93M (9%)
Consolidation 1 (3%) - 1 (1%) -
Total 29 - 83 $992M

Exits by Deal Type

Type Total # Value
Secondary Sale 20 (44%) 1.0B (15%)
Trade Sale - Public Company 14 (31%) 5.9B (85%)
Trade Sale 7 (16%) 24M (< 1%)
Merger 2 (4%) -
IPO 1 (2%) -
Recapitalization 1 (2%) -
Total 45 $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%
30 (36%)
Strategic(s)
6%
5 (6%)
Exited to
Investor(s)
44%
20 (44%)
Strategic(s)
51%
23 (51%)

Investor Summary

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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