M&A Deal Summary

Norwest Equity Partners and NMP Capital Acquire Ramsey Industries

On November 8, 2017, private equity firm Norwest Equity Partners and mezzanine finance firm NMP Capital acquired manufacturer Ramsey Industries from Gridiron Capital

Acquisition Highlights
  • This is Norwest Equity Partners’ 3rd and NMP Capital’s 7th transaction in the Manufacturing sector.
  • This is Norwest Equity Partners’ 56th and NMP Capital’s 66th transaction in the United States.
  • This is Norwest Equity Partners’ 1st and NMP Capital’s 1st transaction in Oklahoma.

M&A Deal Summary

Date 2017-11-08
Target Ramsey Industries
Sector Manufacturing
Buyer(s) Norwest Equity Partners
NMP Capital
Sellers(s) Gridiron Capital
Deal Type Secondary Buyout
Advisor(s) BB&T Capital Markets (Financial)

Target

Ramsey Industries

Tulsa, Oklahoma, United States
Ramsey Industries is a manufacturer of service cranes, industrial and commercial winches, planetary gear, and digger drives. Ramsey Industries was founded in 1944 and is based in Tulsa, Oklahoma.

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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 58 of 75
Sector (Manufacturing) 3 of 3
Type (Secondary Buyout) 19 of 29
State (Oklahoma) 1 of 1
Country (United States) 56 of 72
Year (2017) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-06 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.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-12 Avtex Solutions

Minneapolis, Minnesota, United States

Avtex is a full-service Customer Experience (CX) company focused on helping organizations build meaningful connections with their customers, members, and constituents. Avtex offers a wide range of solutions to support CX transformation planning and orchestration of experiences for clients. Avtex Solutions LLC was founded in 1972 and is based in Minneapolis, Minnesota.

Buy -
Buyer

NMP Capital

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

NMP Capital is an independent investment firm focused on providing junior capital to a variety of lower middle-market companies in partnership with financial sponsors. NMP looks to commit $20 to $75 million in profitable companies with at least $10 million of EBITDA. NMP will consider opportunities in a wide range of industries including distribution, manufacturing, healthcare, and consumer. NMP Capital was formed in 2000 and is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 68 of 88
Sector (Manufacturing) 7 of 9
Type (Secondary Buyout) 19 of 31
State (Oklahoma) 1 of 1
Country (United States) 66 of 85
Year (2017) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-10 Creative Foam

Fenton, Michigan, United States

Creative Foam is a manufacturer and supplier of custom-engineered die-cut, formed foam, nonwoven, and multi-material component solutions to the automotive, medical, and wind energy markets. Creative Foam was founded in 1969 and is based in Fenton, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-30 Biamp Systems

Beaverton, Oregon, United States

Biamp Systems is a provider of commercial audio systems for business, education, and government facilities. Biamp Systems was founded in 1976 and is based in Beaverton, Oregon.

Buy -

Seller(S) 1

SELLER

Gridiron Capital

New Canaan, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 764M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Gridiron Capital is a private equity firm focused on acquiring mid-sized North American manufacturing, service and specialty consumer companies. Gridiron looks to commit companies with EBITDA up to $60 million. The Firm prefers controlling interests when considering transactions. Situations of interest include companies operating in sectors undergoing change, closely held companies owned by founding family or management for ownership transition, and corporate divestitures of orphaned or non-strategic business units. Gridiron Capital was formed in 2004 and is based in New Canaan, Connecticut.


DEAL STATS #
Overall 9 of 19
Sector (Manufacturing) 1 of 2
Type (Secondary Buyout) 4 of 10
State (Oklahoma) 1 of 1
Country (United States) 9 of 19
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-30 Rough Country

Dyersburg, Tennessee, United States

Rough Country is a designer and manufacturer of specialty-engineered, metal-formed exhaust hardware components for automobiles and light trucks. Rough Country was founded in 1939 and is based in Dyersburg, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-08 Engage2Excel

Statesville, North Carolina, United States

Engage2Excel is a provider of employee engagement and recognition programs. Engage2Excel helps clients measure, manage, and improve performance with the industry's only ROI-based employee recognition solution. Engage2Excel was founded in 1892 and is based in Statesville, North Carolina.

Sell -