M&A Deal Summary

Norwest Equity Partners Acquires Twitchell

On July 1, 2022, private equity firm Norwest Equity Partners acquired apparel/textiles company Twitchell from Highlander Partners

Acquisition Highlights
  • This is Norwest Equity Partners’ 1st transaction in the Apparel/Textiles sector.
  • This is Norwest Equity Partners’ 69th transaction in the United States.
  • This is Norwest Equity Partners’ 1st transaction in Alabama.

M&A Deal Summary
Date 2022-07-01
Target Twitchell
Sector Apparel/Textiles
Buyer(s) Norwest Equity Partners
Sellers(s) Highlander Partners
Deal Type Secondary Buyout

Target

Twitchell

Dothan, Alabama, United States
Twitchell is a manufacturer of fabrics and yarns for outdoor furniture. Twitchell produces custom specialty technical fibers, fabrics and engineered films to meet exacting performance and design requirements that are inputs in a diverse set of end products. Twitchell was founded in 1922 and is based in Dothan, Alabama.

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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 72 of 75
Sector (Apparel/Textiles) 1 of 1
Type (Secondary Buyout) 27 of 29
State (Alabama) 1 of 1
Country (United States) 69 of 72
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-02 West Star Aviation

East Alton, Illinois, United States

West Star Aviation is a provider of maintenance, repair, and overhaul (“MRO”) and related support services to the business aviation industry. West Star Aviation was founded in 1952 and is based in East Alton, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-11 Pure Archery Group

Eugene, Oregon, United States

Pure Archery Group is a designer and manufacturer of premium archery equipment focused on performance-driven, and durable archery products. Pure Archery Group was founded in 1999 and is based in Eugene, Oregon.

Sell -

Seller(S) 1

SELLER

Highlander Partners

Dallas, Texas, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2004
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Highlander Partners LP is a private equity firm focuses on making both direct private equity and mezzanine investments in companies located in US and Europe. The firm seeks to target to invest in small and mid-size private companies with strong management teams, fundamentally strong operations and positive cash flows. HP looks to invest $10 to $50 million as an equity and $10 to $25 million in mezzanine financing in companies with revenues of $10 to $500 million and enterprise value up to $100 million. Specific areas of interest include manufacturing, food, healthcare products and services, and healthcare IT, retail and building materials. Types of transaction include buyouts, growth capital, divestitures, consolidation and recapitalization. Highlander Partners LP was formed in 2004 and is based in Dallas, Texas with additional office in Warszawa, Poland.

DEAL STATS #
Overall 26 of 31
Sector (Apparel/Textiles) 1 of 1
Type (Secondary Buyout) 6 of 6
State (Alabama) 1 of 1
Country (United States) 19 of 22
Year (2022) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-15 McIntosh Group

New York, New York, United States

McIntosh Group is a developer of high-performance audio equipment controlling McIntosh, Audio Research, Sonus Faber and Wadia brands. McIntosh Group is based in New York, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-28 Liteye Systems

Centennial, Colorado, United States

Liteye Systems is a technology manufacturer and integrator of multi-domain and multi-mission defense systems that protect lives and critical infrastructure from real-world threats since Iraq 2016. The Company’s defense systems include military and commercial C-UAS, drone sense and warn systems, rugged high-resolution head-mounted displays, micro imaging viewfinders, thermal surveillance systems, covert surveillance systems, electronic warfare packages, radar systems, and fire control software solutions. Liteye Systems was founded in 2000 and is based in Centennial, Colorado.

Buy -
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