Norwest Mezzanine Partners Mergers and Acquisitions Summary

Private Equity Profile

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

Norwest Mezzanine Partners’ most common sectors for investment are manufacturing (12%) and consumer products (12%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (30%) and secondary buyout (27%). In total, Norwest Mezzanine Partners has invested in 27 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 Activity120
    • M&A Buy Activity75
    • M&A Sell Activity45
  • Total Sectors Invested 28
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 66
  • M&A Advisors 2

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 ≤ '15 '16 '17 '18 '19 '20 T
Buy (2.4/yr) # 63 2 3 4 2 1 75
vol $992M $992M
Sell (1.8/yr) # 36 4 2 1 1 1 45
vol $5.1B $825M $340M $6.2B
  120

Most Recent M&A

Company Date Value Type
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
Evans Food Group Ltd. 2019-08-05 - Secondary Buyout
Chicago, Illinois · www.evansfood.com
United Poly Systems LLC 2019-06-11 - Buyout (LBO, MBO, MBI)
Springfield, Missouri · www.unitedpolysystems.com
Actagro LLC 2019-02-05 340M USD Add-on Acquisition
Biola, California · www.actagro.com
SFERRA Fine Linens LLC 2018-10-09 - Secondary Buyout
Angwin, California · www.sferra.com
Integrative Nutrition, Inc. 2018-10-03 - Growth Capital
New York, New York · www.integrativenutrition.com
SignResource Identity Group 2018-07-31 - Buyout (LBO, MBO, MBI)
Maywood, California · www.signresource.com
SWS Environmental Services, Inc. 2018-05-05 - Add-on Acquisition
Panama City, Florida · www.swsenvironmental.com
Chicago Custom Foods LLC 2018-01-16 - Secondary Buyout
Elk Grove Village, Illinois · www.kernelseasons.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Marco, Inc. 2015-11-02 Image Systems for Business, Inc. 2019-12-17 11
St. Cloud, Minnesota · www.marconet.com Somerset, New Jersey · www.imagesysgroup.com
Marco, Inc. 2015-11-02 Executive Technologies, Inc. 2019-08-05 10
St. Cloud, Minnesota · www.marconet.com Ames, Iowa · www.etibusiness.com
Welocalize, Inc. 2015-06-04 SearchStar 2019-06-10 3
Frederick, Maryland · www.welocalize.com Bath, United Kingdom · www.search-star.co.uk
Apothecary Products LLC 2014-03-03 Soft Style, Inc. 2018-08-09 2
Burnsville, Maine · www.apothecaryproducts.com Boulder, Colorado · www.bamboobies.com
Marco, Inc. 2015-11-02 Prime Office Innovations LLC 2018-06-13 9
St. Cloud, Minnesota · www.marconet.com Macomb, Michigan · www.prime-office.com
Marco, Inc. 2015-11-02 Governor Business Solutions 2018-03-13 8
St. Cloud, Minnesota · www.marconet.com Dearborn, Michigan · www.governorsolutions.com
Metal Powder Products LLC 2016-05-05 NetShape Technologies, Inc. 2018-02-15 2
Noblesville, Indiana · www.mppinnovation.com Floyds Knobs, Indiana · www.netshapetech.com
Marco, Inc. 2015-11-02 Business Ware Solutions 2017-11-17 7
St. Cloud, Minnesota · www.marconet.com Hutchinson, Minnesota · www.businesswaresolutions.com
Marco, Inc. 2015-11-02 Koestner Office Products, Inc. (KOPI) 2017-09-27 6
St. Cloud, Minnesota · www.marconet.com Jefferson City, Missouri · www.kopi.ws
Metal Powder Products LLC 2016-05-05 Thompson Machine Group 2017-06-28 1
Noblesville, Indiana · www.mppinnovation.com Ridgway, Pennsylvania

M&A by Sector

Sector Current # Value All-time # Value
Consumer Products 1 (5%) - 9 (12%) -
Manufacturing 5 (24%) - 9 (12%) -
Apparel/Textiles 2 (10%) - 6 (8%) 93M (9%)
Automotive 2 (10%) - 6 (8%) -
Healthcare Services 2 (10%) - 6 (8%) -
Medical Products 1 (5%) - 5 (7%) 145M (15%)
Chemicals 1 (5%) - 4 (5%) 200M (20%)
Food 2 (10%) - 4 (5%) -
Business Services - - 3 (4%) -
Aerospace 1 (5%) - 2 (3%) -
Distribution - - 2 (3%) -
Education 2 (10%) - 2 (3%) -
Plastics - - 2 (3%) -
Forest Products - - 1 (1%) 296M (30%)
Electrical Equipment - - 1 (1%) 258M (26%)
Construction - - 1 (1%) -
Defense - - 1 (1%) -
Electronics - - 1 (1%) -
Environmental - - 1 (1%) -
Financial Services - - 1 (1%) -
Furniture - - 1 (1%) -
Information Technology 1 (5%) - 1 (1%) -
Machinery - - 1 (1%) -
Marketing - - 1 (1%) -
Packaging - - 1 (1%) -
Restaurants - - 1 (1%) -
Software 1 (5%) - 1 (1%) -
Staffing - - 1 (1%) -
Total 21 - 75 $992M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 21 (100%) - 73 (97%) 899M (91%)
  California 2 (10%) - 8 (11%) -
  Michigan 2 (10%) - 6 (8%) -
  Texas 2 (10%) - 5 (7%) 145M (15%)
  Minnesota 1 (5%) - 5 (7%) 296M (30%)
  Illinois 1 (5%) - 5 (7%) -
  New York 1 (5%) - 4 (5%) -
  New Jersey - - 4 (5%) -
  Wisconsin 1 (5%) - 3 (4%) 258M (26%)
  Florida 1 (5%) - 3 (4%) -
  Colorado 1 (5%) - 3 (4%) -
  Ohio - - 3 (4%) -
  Missouri 2 (10%) - 2 (3%) -
  Utah 1 (5%) - 2 (3%) -
  Tennessee 1 (5%) - 2 (3%) -
  Pennsylvania 1 (5%) - 2 (3%) -
  Iowa - - 2 (3%) 200M (20%)
  Kansas - - 2 (3%) -
  Georgia - - 2 (3%) -
  Washington - - 2 (3%) -
  Maryland 1 (5%) - 1 (1%) -
  Maine 1 (5%) - 1 (1%) -
  Indiana 1 (5%) - 1 (1%) -
  Oklahoma 1 (5%) - 1 (1%) -
  Oregon - - 1 (1%) -
  North Carolina - - 1 (1%) -
  Nevada - - 1 (1%) -
  Massachusetts - - 1 (1%) -
Canada - - 2 (3%) 93M (9%)
  Ontario - - 2 (3%) 93M (9%)
Domestic 21 (100%) - 73 (97%) 899M (91%)
Cross-border - - 2 (3%) 93M (9%)
Total 21 - 75 $992M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 7 (33%) - 22 (29%) -
Secondary Buyout 8 (38%) - 20 (27%) 496M (50%)
Recapitalization 2 (10%) - 12 (16%) 145M (15%)
Growth Capital 3 (14%) - 10 (13%) -
Divestiture 1 (5%) - 6 (8%) 258M (26%)
Stake Purchase - - 4 (5%) -
Going Private - - 1 (1%) 93M (9%)
Total 21 - 75 $992M

Exits by Deal Type

Type Total # Value
Secondary Sale 20 (44%) 1.0B (16%)
Trade Sale - Public Company 13 (29%) 5.2B (83%)
Trade Sale 8 (18%) 24M (< 1%)
Merger 2 (4%) -
IPO 1 (2%) -
Recapitalization 1 (2%) -
Total 45 $6.2B

Top M&A Advisors

Legal Deals
Latham & Watkins
 1
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 10 $3.3B
< $100M 1 $24M
TOTAL $6.2B
Largest Liberty Dialysis LLC
$1.7B (2012-02-28)

M&A Connections

Deals %
Acquired from
PE Firm(s)
86%
30 86%
Strategic(s)
14%
5 14%
Exited to
PE Firm(s)
53%
26 53%
Strategic(s)
47%
23 47%

Investor Summary

Size

Large

PE Assets

2.2B USD

Established

2000

Specialist/Generalist

Generalist

Leadership

Timothy DeVries

Managing General Partner

Carter Balfour

Partner

John Hogan

Partner

Sean Stevens

Partner

Shani Graber

Principal

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