M&A Deal Summary

Norwest Equity Partners Acquires MDC Interior Solutions

On April 29, 2024, private equity firm Norwest Equity Partners acquired building materials company MDC Interior Solutions from ShoreView Industries and Northstar Capital

Acquisition Highlights
  • This is Norwest Equity Partners’ 2nd transaction in the Building Materials sector.
  • This is Norwest Equity Partners’ 72nd transaction in the United States.
  • This is Norwest Equity Partners’ 8th transaction in Illinois.

M&A Deal Summary
Date 2024-04-29
Target MDC Interior Solutions
Sector Building Materials
Buyer(s) Norwest Equity Partners
Sellers(s) ShoreView Industries
Northstar Capital
Deal Type Secondary Buyout
Advisor(s) William Blair (Financial)

Target

MDC Interior Solutions

Glendale Heights, Illinois, United States
MDC Interior Solutions is a provider of vertical interior surfaces. The Company’s products include vinyl, textile and specialty wall coverings, decorative panels, acoustical solutions, digitally printed surfaces and specialty paints. MDC Interior Solutions was established in 1974 and is based in Glendale Heights, 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 75 of 75
Sector (Building Materials) 2 of 2
Type (Secondary Buyout) 29 of 29
State (Illinois) 8 of 8
Country (United States) 72 of 72
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-01 Surgical Information Systems

Alpharetta, Georgia, United States

Surgical Information Systems is a provider of cloud-based ASC management which includes surgeon office case request, scheduling, insurance verification, registration, billing, payment posting, accounts receivable, collections, and inventory. Surgical Information Systems was founded in 1996 and is based in Alpharetta, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-20 Bailiwick

Chaska, Minnesota, United States

Bailiwick specializes in serving enterprise customers that operate large store, branch, and campus footprints predominantly in the retail, financial services, restaurant, and hospitality vertical markets. Bailiwick was founded in 1995 and is based in Chaska, Minnesota.

Sell -

Seller(S) 2

SELLER

ShoreView Industries

Category Private Equity Firm
Founded 2002
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

ShoreView Industries is a middle-market private investment principally focused on partnering with family or entrepreneurial-owned companies. ShoreView will consider a variety of investment situations, including buyouts, leveraged recapitalizations, minority investments, and industry consolidations. Areas of interest include engineered products, distribution, industrial services, business services, and niche consumer products. ShoreView industries was established in 2002 and is headquartered in Minneapolis, Minnesota.

DEAL STATS #
Overall 29 of 29
Sector (Building Materials) 4 of 4
Type (Secondary Buyout) 11 of 11
State (Illinois) 2 of 2
Country (United States) 28 of 28
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-13 P&F Industries

Melville, New York, United States

P&F Industries is a global designer, manufacturer, and distributor of power tools, gears, and other highly engineered industrial equipment. P&F’s products are sold under several proprietary brands including AIRCAT, Jiffy Air Tool, Universal Tool, and ATP, as well as under the private labels of major manufacturers and retailers. The company’s products are used in a variety of end markets, including aerospace OEM, automotive aftermarket, DIY consumer, and other niche manufacturing. P&F Industries was founded in 1959 and is based in Melville, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-23 Go Local

Overland Park, Kansas, United States

Go Local is a provider of digital marketing services, including organic, paid, and web solutions, primarily serving clients in the self-storage, home services, multi-family, and senior living industries. Go Local specializes in helping its clients build and maintain a strong local digital presence through search engine optimization, local listing optimization (e.g. Google Maps), content creation, paid media, and website development. Go Local was founded in 2011 and is headquartered in Overland Park, Kansas

Buy -
SELLER

Northstar Capital

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Northstar Capital is a mezzanine finance firm that provides junior capital to middle-market companies operating in the value-added distribution, light manufacturing, business services, financial services, education, and specialty healthcare sectors. Northstar's typical investment size is $5 to $30 million in businesses generating sales of $20 to $300 million with an EBITDA of at least $3 million. Prospective companies have stable cash flows and sustainable margins. Investments typically have maturities of five to eight years. Northstar does not invest in start-ups, real estate development, natural resource exploration, or high technology companies. Northstar Capital was formed in 1993 and is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 79 of 80
Sector (Building Materials) 4 of 4
Type (Secondary Buyout) 25 of 26
State (Illinois) 9 of 9
Country (United States) 75 of 76
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-19 Online Labels

Sanford, Florida, United States

Online Labels provides a full suite of custom printed pressure sensitive, shrink sleeve, flexible packaging, and blank labels on sheets and rolls to small businesses, consumers, and middle-market brands via enterprise relationships and a direct-to-consumer e-commerce platform. Online Labels provides labeling solutions for consumer products such as food, health and beauty, and nutritional supplements, as well as numerous other products requiring primarily pressure sensitive labels. Online Labels was founded in 1980 and is based in Sanford, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-31 Questco

The Woodlands, Texas, United States

Questco is a professional employer organization. Questco provides human resource management and administrative services through a co-employment relationship with its clients. The Company enables its clients to cost-effectively outsource the management of employee benefits, workers compensation, human resources, payroll, and other administrative services. Questco was established in 1989 and is based in The Woodlands, Texas.

Sell -
Mergr

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