M&A Deal Summary

Norwest Equity Partners Acquires Clover Environmental Solutions

On December 16, 2019, private equity firm Norwest Equity Partners acquired environmental company Clover Environmental Solutions from Golden Gate Capital and JP CAPITAL PARTNERS

Acquisition Highlights
  • This is Norwest Equity Partners’ 2nd transaction in the Environmental sector.
  • This is Norwest Equity Partners’ 61st transaction in the United States.
  • This is Norwest Equity Partners’ 5th transaction in Illinois.

M&A Deal Summary

Date 2019-12-16
Target Clover Environmental Solutions
Sector Environmental
Buyer(s) Norwest Equity Partners
Sellers(s) Golden Gate Capital
JP CAPITAL PARTNERS
Deal Type Secondary Buyout
Advisor(s) Lincoln International (Financial)
Kirkland & Ellis (Legal)

Target

Clover Environmental Solutions

Hoffman Estates, Illinois, United States
Clover Environmental Solutions provides environmentally sustainable solutions focused on the recovery, returns management, remanufacturing, and recommerce of business and consumer goods. By leveraging its world-class engineering, manufacturing, and distribution infrastructure, Clover Environmental Solutions provides circular economy solutions for various products, making the company a product lifecycle management provider of choice for OEMs and retailers globally. Clover Environmental Solutions was established in 1996 and is based in Hoffman Estates, Illinois.

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Buyer(S) 1

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 64 of 75
Sector (Environmental) 2 of 2
Type (Secondary Buyout) 21 of 29
State (Illinois) 5 of 8
Country (United States) 61 of 72
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-02 Christy Sports

Lakewood, Colorado, United States

Christy Sports is a specialty retailer of ski and snowboard equipment, apparel, accessories, and related custom fitting, mounting, tuning, and repair services in the Rocky Mountain region. Christy Sports was founded in 1958 and is based in Lakewood, Colorado.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-15 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.

Buy -

Seller(S) 2

SELLER

Golden Gate Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Golden Gate Capital is a large private equity firm focused on buyout and growth equity investments across a wide variety of industries. The Firm partners with management teams to make equity investments in situations where there is a demonstrable opportunity to significantly enhance a company's value. Sectors of interest include software and IT services, semiconductors, electronics, consumer products and retail, financial services, business services, and media. Prospective transaction types include public-to-privates, corporate extractions, bankruptcy auctions, and recapitalizations. Golden Gate Capital was formed in 2000 and is based in San Francisco, California.


DEAL STATS #
Overall 65 of 84
Sector (Environmental) 2 of 2
Type (Secondary Buyout) 13 of 18
State (Illinois) 2 of 3
Country (United States) 58 of 76
Year (2019) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-26 Cole-Parmer Instrument

Vernon Hills, Illinois, United States

Cole-Parmer Instrument is a global source of fluid handling, test & measurement, environmental and biosciences instrumentation and associated consumables. Cole-Parmer is proven experts in the fields of peristaltic technologies, temperature measurement, and control, electrochemistry, water & air testing and chromatography. Cole-Parmer’s portfolio of unique industry-leading brands includes Masterflex, Environmental Express, and Traceable. Cole-Parmer’s products are used in both research and production applications for a diverse range of customers across the life sciences, healthcare, environmental, and industrial end-markets. Cole-Parmer Instrument was founded in 1955 and is based in Vernon Hills, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-04 Infor Global Solutions

New York, New York, United States

Infor Global Solutions, Inc. is a global provider of enterprise business solutions to select manufacturing and distribution industries. Infor Global Solutions, Inc. was formed in 2002 and is based in New York City.

Sell $13.0B
SELLER

JP CAPITAL PARTNERS

Los Angeles, California, United States

Category Private Equity Firm
Founded 2006
PE ASSETS 100M USD
Size Small
Type Sector Agnostic
DESCRIPTION

JP Capital Partners is a private equity firm focused on investing in profitable small-to-medium sized companies. Targeted transactions include management buyouts of private companies, take privates, recapitalizations, acquisitions, control transactions of family or entrepreneur owned businesses, and corporate divestitures. JP invests in businesses with $20 to $200 million of revenue and EBITDA up to $25 million. Sectors of interest include business services, marketing services, consumer products and services, niche manufacturing, value-added distribution, healthcare, media, and telecom. JP Capital Partners was formed in 2006 and is based in Beverly Hills, California.


DEAL STATS #
Overall 3 of 3
Sector (Environmental) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Illinois) 1 of 1
Country (United States) 3 of 3
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-25 Pinnacle Security

Orem, Utah, United States

Pinnacle Security is a provider of residential and commercial security systems, focused primarily on direct sales. Pinnacle recruits salespeople from colleges and universities across the country, and has sales offices in major metropolitan areas throughout the United States and Canada.

Sell -