M&A Deal Summary

Norwest Equity Partners and NMP Capital Acquire Red Monkey Foods

On December 11, 2020, private equity firm Norwest Equity Partners and mezzanine finance firm NMP Capital acquired food company Red Monkey Foods from San Francisco Equity Partners

Acquisition Highlights
  • This is Norwest Equity Partners’ 4th and NMP Capital’s 5th transaction in the Food sector.
  • This is Norwest Equity Partners’ 64th and NMP Capital’s 78th transaction in the United States.
  • This is Norwest Equity Partners’ 1st and NMP Capital’s 2nd transaction in Missouri.

M&A Deal Summary
Date 2020-12-11
Target Red Monkey Foods
Sector Food
Buyer(s) Norwest Equity Partners
NMP Capital
Sellers(s) San Francisco Equity Partners
Deal Type Secondary Buyout
Advisor(s) Stifel, Nicolaus & Co., Inc. (Financial)

Target

Red Monkey Foods

Springfield, Missouri, United States
Red Monkey Foods is a provider of organic spices, seasonings, and other natural dry food products. Operating out of a state-of-the-art facility, the company manages gourmet store brand programs for many of the nation’s largest food, mass, and specialty retailers. Red Monkey Foods was founded in 2002 and is based in Springfield, Missouri.

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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 67 of 75
Sector (Food) 4 of 4
Type (Secondary Buyout) 23 of 29
State (Missouri) 1 of 1
Country (United States) 64 of 72
Year (2020) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-15 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
2021-02-01 recteq

Evans, Georgia, United States

recteq is a designer, marketer, and direct seller of premium pellet grills, accessories, and other consumable products. recteq’s continued technology-driven product innovation, direct-to-consumer distribution model, and top-notch customer service position recteq as a premium brand in the pellet grill space. recteq was founded in 2009 and is based in Evans, Georgia.

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 81 of 88
Sector (Food) 5 of 5
Type (Secondary Buyout) 26 of 31
State (Missouri) 2 of 3
Country (United States) 78 of 85
Year (2020) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-02 Newterra

Brockville, Ontario, Canada

Newterra is a provider of decentralized water and wastewater treatment solutions to the global mining, oil & gas, and private development markets. Newterra was founded in 1863 and is based in Brockville, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-25 Pet Supplies Plus

Livonia, Michigan, United States

Pet Supplies Plus is a pet specialty retailer in the United States by total system sales, providing a wide variety of pet food, treats, hard goods and services for dogs, cats, and small animals. Pet Supplies Plus was founded in 1988 and is based in Livonia, Michigan.

Sell $700M

Seller(S) 1

SELLER

San Francisco Equity Partners

San Francisco, California, United States

Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 180M USD
Size Small
Type Sector Focused
DESCRIPTION

San Francisco Equity Partners (SFEP) is a private equity investment firm focused on expansion-stage companies within the information technology, media, consumer, and service industries. SFEP's target investment size is $15 to $40 million in companies generating up to $100 million in annual sales. SFEP was formed in partnership with LMS Capital, the investment division of London Merchant Securities plc. San Francisco Equity Partners was established in 2005 and is based in San Francisco, California.

DEAL STATS #
Overall 5 of 5
Sector (Food) 1 of 1
Type (Secondary Buyout) 3 of 3
State (Missouri) 1 of 1
Country (United States) 5 of 5
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-15 BrüMate

Fort Lauderdale, Florida, United States

BrüMate is a provider of insulated drinkware for adult beverages, including wine tumblers, wine canteens, can and bottle coolers, barware and coolers. BrüMate was founded in 2016 and is based in Fort Lauderdale, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-25 SV Labs

Watsonville, California, United States

SV Labs is a natural bath, body, and skincare company that manufactures beauty and personal care products. SV Labs was founded in 1979 and is based in Watsonville, California.

Buy -
Mergr

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