M&A Deal Summary

Norwest Equity Partners and Antares Capital Acquire Movati Athletic

On October 1, 2014, private equity firms Norwest Equity Partners and Antares Capital acquired consumer services company Movati Athletic

Acquisition Highlights
  • This is Norwest Equity Partners’ 2nd and Antares Capital’s 1st transaction in the Consumer Services sector.
  • This is Norwest Equity Partners’ 1st and Antares Capital’s 1st transaction in Canada.
  • This is Norwest Equity Partners’ 1st and Antares Capital’s 1st transaction in Ontario.

M&A Deal Summary

Date 2014-10-01
Target Movati Athletic
Sector Consumer Services
Buyer(s) Norwest Equity Partners
Antares Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Movati Athletic

Etobicoke, Ontario, Canada
Movati Athletic is a premium fitness concept that offers amenities such as group fitness classes, pools, basketball courts, women’s-only sections, childcare and a common area for weight training and cardio to more than 95,000 members. Movati Athletic was founded in 1997 and is based in Etobicoke, Ontario.

Search 200,500 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 2

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 46 of 75
Sector (Consumer Services) 2 of 3
Type (Buyout (LBO, MBO, MBI)) 17 of 19
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2014) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-09 Uintah Engineering & Land Surveying

Vernal, Utah, United States

Uintah Engineering & Land Surveying is a provider of land surveying, drafting and civil engineering services for the oil and gas industry in the U.S. Uintah Engineering & Land Surveying was founded in 1964 and is based in Vernal, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-01 Edge Fitness Clubs

Orange, Connecticut, United States

Edge Fitness Clubs offers fitness equipment, fitness programming and specialized in-club services such as personal training and Pilates. Edge Fitness Clubs was founded in 1987 and is based in Orange, Connecticut.

Buy -
Buyer

Antares Capital

Miami, Florida, United States

Investor Investor


Category Private Equity Firm
Founded 1993
Size Small
Type Sector Agnostic
DESCRIPTION

Antares Capital is a private investment group that targets growth capital financings as well as management buyout opportunities. The Firm focuses on investments based in the Southeast US and Texas. Prospective companies generally have proven business models, modest capital requirements for growth, and operate in large and growing markets. The Firm looks to commit $500k to $5 million per investment. Antares will not invest in real estate, mineral exploration, distributors, franchisees, or project financings. Antares was founded in 1993 and is based in Miami, Florida.


DEAL STATS #
Overall 16 of 55
Sector (Consumer Services) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 5 of 10
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2014) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-03 Argotec

Greenfield, Massachusetts, United States

Argotec LLC is a manufacturer of thermoplastic polyurethane films used in a wide range of industries and market segments, including automotive paint protection, glass lamination, medical, graphics, textiles, and other industrial applications.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-17 Primary Energy Recycling

Oak Brook, Illinois, United States

Primary Energy Recycling is a developer, owner and operator of power and thermal cogeneration systems onsite at industrial facilities. Primary Energy Recycling was founded in 2003 and is based in Oak Brook, Illinois.

Buy -