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Buyout (LBO, MBO, MBI) • Communications

Norwest Equity Partners Acquires PeopleNet Communications

On January 1, 2000, private equity firm Norwest Equity Partners acquired communications company PeopleNet Communications

Acquisition Context
  • This is Norwest Equity Partners’ 2nd transaction in the Communications sector.
  • This is Norwest Equity Partners’ 6th transaction in the United States.
  • This is Norwest Equity Partners’ 3rd transaction in Minnesota.
Investment Fate
  • PeopleNet Communications was sold to a publicly-traded strategic buyer in 2011.

Explore All 547 Buyout (LBO, MBO, MBI) Communications Deals - Search the Database Free


M&A Deal Summary
Date January 1, 2000
Target PeopleNet Communications
Sector Communications
Buyer(s) Norwest Equity Partners
Deal Type Buyout (LBO, MBO, MBI)

Target Company

PeopleNet Communications

Minnetonka, Minnesota, United States
PeopleNet Communications Corp.,a mobile communications and onboard computing provider in the business. Serving the unique and specific needs of fleets coast-to-coast and throughout Canada, PeopleNet is known for the customer-driven innovation, unparalleled flexibility, leading edge technology and proactive customer care that gives fleets a real business edge.
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Buyer Overview 1

Buyer

Norwest Equity Partners

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1961
PE ASSETS 6.7B 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 $75 to $175 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 Context for Buyer #
Overall 6 of 75
Sector: Communications 2 of 2
Type: Buyout (LBO, MBO, MBI) 4 of 19
State: Minnesota 3 of 15
Country: United States 6 of 72
Year: 2000 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-12-01 Pelican Products

Torrance, California, United States

Pelican Products is a designer and manufacturer of high performance protective cases, temperature controlled packaging solutions, advanced portable lighting systems and rugged gear for professionals and outdoor enthusiasts. Pelican's products are used by professionals in the most demanding markets including fire safety, law enforcement, defense / military, aerospace, entertainment, industrial and consumer. Pelican products are designed and built to last a lifetime. Pelican Products was founded in 1976 and is based in Torrance, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-02-01 Warn Industries

Clackamas, Oregon, United States

Warn Industries, Inc. is a designer, manufacturer and marketer of high performance vehicle equipment and accessories for light trucks, four-wheel drive recreational vehicles, and all-terrain vehicles.

Buy -

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