M&A Deal Summary

Norwest Equity Partners Acquires United Sports Brands

On April 1, 2008, private equity firm Norwest Equity Partners acquired consumer products company United Sports Brands from Hillcrest Capital Partners

Acquisition Highlights
  • This is Norwest Equity Partners’ 5th transaction in the Consumer Products sector.
  • This is Norwest Equity Partners’ 27th transaction in the United States.
  • This is Norwest Equity Partners’ 5th transaction in California.
Investment Fate
  • United Sports Brands was sold to a consortium of financial buyers in 2014.
  • United Sports Brands was sold to a consortium of financial buyers in 2023.

M&A Deal Summary

Date 2008-04-01
Target United Sports Brands
Sector Consumer Products
Buyer(s) Norwest Equity Partners
Sellers(s) Hillcrest Capital Partners
Deal Type Secondary Buyout

Target

United Sports Brands

Fountain Valley, California, United States
United Sports Brands is a provider of technology-driven sports protective equipment. The company sells mission-critical products used at every level of sport including mouthguards, protective gear, sports medicine and therapy, cycling, gloves, and other sport focused accessories and apparel. United Sports Brands was founded in 1992 and is based in Fountain Valley, California.

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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 27 of 75
Sector (Consumer Products) 5 of 14
Type (Secondary Buyout) 7 of 29
State (California) 5 of 8
Country (United States) 27 of 72
Year (2008) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-11-01 Wealth Enhancement Group

Plymouth, Minnesota, United States

Wealth Enhancement Group is a comprehensive wealth management firm that provides team-based financial planning, estate planning, retirement income planning, insurance, tax strategies, and investment management services. Wealth Enhancement Group was founded in 1997 and is based in Plymouth, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-04-16 Rosetta Stone

Arlington, Virginia, United States

Rosetta Stone is a provider of online language learning software. Rosetta Stone was founded in 1992 and is headquartered in Arlington, Virginia.

Sell -

Seller(S) 1

SELLER

Hillcrest Capital Partners

Minneapolis, Minnesota, United States

Investor Investor


Category Private Equity Firm
Founded 2002
Size Small
Type Sector Agnostic
DESCRIPTION

Hillcrest Capital Partners is a Midwest private equity firm focused on lower middle-market acquisitions in the Midwest US. The Firm targets businesses generating sales of $6 to $20 million and EBITDA of $1 to $3 million. Hillcrest typically looks to acquire controlling interests in family-owned businesses or companies where the founder is looking for liquidity. Hillcrest does not have any sector preferences, as long as the market is stable/growing and non-regulated. Hillcrest does not invest in turnarounds or venture investments. Hillcrest Capital was formed in 2002 and is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 1 of 4
Sector (Consumer Products) 1 of 1
Type (Secondary Buyout) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 4
Year (2008) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-06-01 United Sports Brands

Fountain Valley, California, United States

United Sports Brands is a provider of technology-driven sports protective equipment. The company sells mission-critical products used at every level of sport including mouthguards, protective gear, sports medicine and therapy, cycling, gloves, and other sport focused accessories and apparel. United Sports Brands was founded in 1992 and is based in Fountain Valley, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-01 Bedford Technology

Worthington, Minnesota, United States

Bedford Technology is a manufacturer of recycled plastic products, including lumber, pilings, site furnishings (benches, seats, and tables), signs, and a variety of other products. Bedford Technology was founded in 1998 and is based in Worthington, Minnesota.

Buy -