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Norwest Equity closes Wealth Enhancement sale

Norwest Equity Partners said Monday it has completed the sale of its majority stake in Wealth Enhancement Group to Lightyear Capital LLC. Financial terms weren’t announced. . The employee-owners of Wealth Enhancement Group will continue hold a stake. Plymouth, Minnesota-based Wealth Enhancement is a wealth management firm.

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Riverside Partners exits Welocalize

Riverside Partners said Wednesday that it has sold its stake in Welocalize Inc. Financial terms weren’t announced. Norwest Equity Partners was the buyer. Welocalize offers translation and localization services for global brands in more than 157 languages. William Blair & Co. advised Welocalize.

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Norwest Equity invests in Welocalize

Norwest Equity Partners said Wednesday that it invested in Welocalize Inc. Financial terms weren’t announced. Welocalize offers translation and localization services for global brands in more than 157 languages. William Blair & Co. advised Welocalize. BMO Harris Bank, GE Capital, Ally Corporate Finance, Fifth Third Bank, and Norwest Mezzanine Partners provided financing.

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Norwest Equity Partners invests in eyebobs

Norwest Equity Partners said Tuesday it invested in eyebobs. Financial terms weren’t announced. Minneapolis-based eyebobs designs a line of reading glasses. Imperial Capital served as financial advisor to eyebobs.

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Norwest Equity invests in Old Hickory Smokehouse

Norwest Equity Partners said Thursday it invested in Old Hickory Smokehouse LLC. Financial terms weren’t announced. Lewisberg, Tennessee-based Old Hickory makes, markets and distributes food like rib tips and pulled pork, as well as beverages that are sold in retail grocery and foodservice channels. Norwest Equity’s investment was made in partnership with Wayne Wolf, Old Hickory’s CEO.

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Bregal Partners buys athletic brand Shock Doctor

Middle market private equity firm Bregal Partners has acquired Shock Doctor from Norwest Equity Partners. No financial terms were disclosed. William Blair & Company represented Norwest Equity Partners in the transaction, while Bregal Partners was represented by law firm Dechert. Shock Doctor is a provider of athletic performance and protective equipment.

Norwest Equity Makes Schoenman an Operating Partners

Stuart Schoenmann has joined Norwest Equity Partners as an operating partner. Prior to joining NEP, Schoenmann served as CEO of CVI Melles Griot. PRESS RELEASE Norwest Equity Partners (“NEP”), a leading middle market investment firm with nearly $5 billion in capital under management, has hired Stuart Schoenmann to join its team as an operating partner. […]

Pentech Sold to Norwest

Norwest Equity Partners has acquired Pentech Holdings from DW Healthcare Partners, Frazier Healthcare and Pentec management. Pentec is a provider of specialty pharmaceutical products and services outside of the hospital setting. Additional financing for this transaction was provided by Norwest Mezzanine Partners, Madison Capital Funding, Golub Capital, Zions Bank, and CIT Group. PRESS RELEASE Norwest […]

Norwest Equity Partners Adds David Ropp

Norwest Equity Partners, a Minneapolis-based middle market private equity firm, has brought aboard David Ropp as an operating partner. Ropp who has served in both president and CEO positions at Dover Corporation, will focus on investment opportunities within the diversified industrials sector. PRESS RELEASE: Norwest Equity Partners (“NEP”), a leading middle market investment firm with nearly […]

Refinancings Take Off As Market Accommodates

Well, don’t tell the multiplying critics of private equity. But the leveraged loan market shows continuing signs of stabilization, and perhaps even vigor, according to sister magazine Buyouts, as portfolio companies are finding ways to borrow to refinance existing debt and, in some cases, pay dividends to their sponsors.

Norwest Equity Partners Backs Savage

Norwest Equity Partners, a mid-market investment firm, has made a significant investment in Savage Sports Corporation, a provider of outdoor sports products. NEP was first introduced to Coburn eight years ago when Norwest Mezzanine Partners, NEP’s affiliated mezzanine fund, made an investment in support of Long Point Capital, a mid-market equity fund that led a […]

Norwest Equity Partners Backs Actagro

Middle-market buyout shop Norwest Equity Partners has made a “significant investment” in Actagro, a developer, manufacturer, and marketer of organic liquid and specialty plant nutrients. Terms of the deal, which closed on December 30, were not released. Norwest said that it invested along side a group of Actagro employees. Actagro is based in Biola, Calif.

Norwest Equity Partners Promotes Schauerman

Norwest Equity Partners, a Minneapolis-based middle-market investment firm, has promoted Tom Schauerman to partner. Schauerman joined the firm in 1998 and has focused on management buyouts, recapitalizations, and growth financings within the technology and business services, manufacturing, and distribution industries.

Norwest Equity Partners Exits PeopleNet

Middle-market investment firm Norwest Equity Partners has exited its investment in PeopleNet, selling the company to listed Trimble Navigation Ltd. The deal closed on August 5. PeopleNet is a provider of mobile communications systems to the trucking industry. Financial terms of the sale were not released. PeopleNet is headquartered in Minnetonka, Minnesota.

Norwest Equity Partners Sells Its Interest in Lindstrom Metric

The Minneapolis-based middle market firm Norwest Equity Partners has completed the sale of its ownership interest in Blaine, Minn.-based Lindstrom Metric, a distributor of metric “fasteners” (also known as screws). The buyer: Harbour Group, a St. Louis, Missouri-based operating company. Norwest bought its stake in Lindstrom five years ago. Terms of the sale weren’t disclosed. PRESS […]

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