Norwest, Fund X On Horizon, Exits 2nd Company In 2 Months

Target: Becker Underwood Inc.

Price: $1.02 billion

Buyer: BASF

Seller: Norwest Equity Partners

Financial Adviser: Seller: Greenhill & Co.

Norwest Equity Partners scored its second exit in less than two months on Nov. 28, selling biological seed technology developer Becker Underwood to Germany-based global chemical company BASF for $1.02 billion.

Becker Underwood develops products for the agricultural sector aimed at helping seeds improve crop yields while decreasing carbon footprint and other waste. Norwest Equity bought the company in 2004 for an undisclosed amount and invested heavily in research and development ...

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