M&A Deal Summary

ECP Acquires Gopher Resource

On March 6, 2018, private equity firm ECP acquired environmental company Gopher Resource from Norwest Equity Partners

Acquisition Highlights
  • This is ECP’s 2nd transaction in the Environmental sector.
  • This is ECP’s 38th transaction in the United States.
  • This is ECP’s 1st transaction in Minnesota.

M&A Deal Summary
Date 2018-03-06
Target Gopher Resource
Sector Environmental
Buyer(s) ECP
Sellers(s) Norwest Equity Partners
Deal Type Secondary Buyout

Target

Gopher Resource

Eagan, Minnesota, United States
Gopher Resource is a technologically-advanced secondary lead processor that recycles lead-acid batteries and other lead bearing materials, with a majority of the refined lead being used in automotive and industrial batteries. Additionally, the company recycles polypropylene from battery casings through its subsidiary, Resource Plastics. Gopher Resource employs more than 300 people and is headquartered in Eagan, Minnesota with an additional facility in Tampa, Florida.

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Buyer(S) 1

Buyer

ECP

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 27.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

ECP is a specialist private equity firm focused on investments in energy infrastructure. Specific areas of interest include power generation, including renewable energy facilities; electric transmission; midstream gas, including gas storage and pipelines; and other energy service businesses and infrastructure assets. The Firm primarily targets opportunities located in North America. ECP was formed in 2005 and is based in Summit, New Jersey.

DEAL STATS #
Overall 39 of 51
Sector (Environmental) 2 of 4
Type (Secondary Buyout) 3 of 7
State (Minnesota) 1 of 2
Country (United States) 38 of 48
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-18 Calpine

Houston, Texas, United States

Calpine Corporation is America’s largest generator of electricity from natural gas and geothermal resources with operations in competitive power markets. Company fleet of 80 power plants in operation or under construction represents approximately 26,000 megawatts of generation capacity. Through wholesale power operations and retail businesses Calpine Energy Solutions and Champion Energy, Company serve customers in 25 states, Canada and Mexico. Calpine clean, efficient, modern and flexible fleet uses advanced technologies to generate power in a low-carbon and environmentally responsible manner. Company are uniquely positioned to benefit from the secular trends affecting our industry, including the abundant and affordable supply of clean natural gas, environmental regulation, aging power generation infrastructure and the increasing need for dispatchable power plants to successfully integrate intermittent renewables into the grid.

Buy $5.6B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-02 Wheelabrator Technologies

Hampton, New Hampshire, United States

Wheelabrator Technologies Inc. is a provider in the safe and environmentally sound conversion of municipal solid waste - and other renewable waste fuels - into clean energy. Wheelabrator Technologies was founded in 1908 and is based in Hampton, New Hampshire.

Sell -

Seller(S) 1

SELLER

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 37 of 54
Sector (Environmental) 1 of 1
Type (Secondary Buyout) 15 of 24
State (Minnesota) 8 of 13
Country (United States) 36 of 52
Year (2018) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-12 Avtex Solutions

Minneapolis, Minnesota, United States

Avtex is a full-service Customer Experience (CX) company focused on helping organizations build meaningful connections with their customers, members, and constituents. Avtex offers a wide range of solutions to support CX transformation planning and orchestration of experiences for clients. Avtex Solutions LLC was founded in 1972 and is based in Minneapolis, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-25 Wahoo

Atlanta, Georgia, United States

Wahoo provides a full ecosystem of sensors and devices for runners, cyclists, and general fitness enthusiasts. Wahoo’s products include the KICKR family of smart indoor riding equipment and accessories, the ELEMNT family of GPS devices and sport watches, the TICKR family of heart rate monitors, as well as Speedplay dual-sided pedals and the SUF structured training app to help you become the most complete athlete. Wahoo was founded in 2009 and is based in Atlanta, Georgia.

Buy -
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