Norwest Equity Partners

Norwest Equity Partners (NEP), based in Minneapolis, Minnesota, is a prominent private equity firm founded in 1961. NEP specializes in investing equity capital in established middle-market companies across various sectors, including agriculture, business services, consumer products, distribution, industrials, and healthcare. The firm focuses on companies with proven business models capable of generating profits and has extensive experience in management buyouts, recapitalizations, and growth financings, particularly in founder and family-owned businesses. NEP typically targets investment sizes ranging from $30 million to over $250 million, aiming to partner with companies that demonstrate strong potential for growth and industry leadership. Currently, NEP is investing from its latest fund, which has a total capital commitment of $1.6 billion.

Harry Alappat

Associate

Anthony Armand

Partner

Tony Armand

Partner

Carter Balfour

Partner

Will Borwege

Associate

Jared Brown

Managing Director

John Brownschidle

Vice President

Bailey DeMets

Associate

Laura Hacker Dorsch

Principal

Danny Fox

Principal

Eric Frueh

Vice President

Shani Graber

Managing Director

John Hogan

Partner

Tim Kuehl

Partner

Beth Lesniak

Managing Director

Parker Loving

Vice President

Matt Mitan

Senior Associate

Parker Montgomery

Senior Associate

Michael Orke

Associate

David Ropp

Operating Partner

Todd Solow

Partner

Jason Sondell

Managing Director

Sean Stevens

Partner

Josh Stiefel

Associate

Mark Thom

Operating Partner

Tyrus Williams

Associate

Austin Wilson

Vice President

Past deals in Minnesota

Bix Produce

Private Equity Round in 2015
Bix Produce Company, LLC, founded in 1930, is a leading distributor of bulk and pre-cut fruits and vegetables, dairy products, cheese, and nuts. Based in Saint Paul, Minnesota, the company serves a diverse clientele, including restaurants, hotels, educational institutions, country clubs, and food service distributors across Minnesota, Western Wisconsin, and Eastern North Dakota. Bix Produce emphasizes quality and customer service, with a commitment to delivering fresh food products sourced directly from growers. The company operates a modern processing facility that runs six days a week, employing over 260 people, and has expanded its capabilities to meet growing demand for organic and specialty produce. Since its inception, Bix Produce has evolved from a single truck operation into a regional industry leader, reflecting its enduring philosophy of quality and service excellence.

Marco

Private Equity Round in 2015
Marco was founded in 1973 and serves over 25,000 customers nationally. Marco provides copiers/printers, business IT services, managed services, hosted/cloud services, carrier services, phone systems, document management and audio/video systems

Apothecary Products

Private Equity Round in 2014
Apothecary Products, LLC is a manufacturer and distributor of consumer healthcare products and pharmacy supplies, based in Burnsville, Minnesota. Founded in 1975, the company focuses on providing both over-the-counter products and behind-the-counter pharmacy supplies across three main categories: pharmacy supplies, medication management, and home healthcare. Its extensive product range includes auxiliary labels, compounding supplies, medication safety products, pill planners, diabetes management items, and first aid products. Apothecary Products serves a diverse clientele, including independent and national retail pharmacies, mass retailers, and distributors globally. The company also offers its products through online sales, ensuring broad accessibility for its consumer and professional markets.

Hospice Advantage

Venture Round in 2013
Hospice Advantage, LLC is a provider of end-of-life care services, catering to patients and families across 14 states, including Alabama, Georgia, Illinois, Indiana, Kansas, Michigan, Minnesota, Mississippi, Missouri, Oklahoma, Pennsylvania, South Carolina, Tennessee, and Wisconsin. Founded in 2004 by Rod Hildebrant, the company is Medicare and Medicaid certified and aims to deliver compassionate care to those with life-limiting illnesses. Hospice Advantage offers a range of services, including hospice and home care, palliative care, personal assistance, and bereavement support. The company addresses patients' essential needs, such as nutrition, bathing, and household tasks, while also providing companionship and assistance with errands. Additionally, it supplies medical equipment and conducts necessary diagnostic studies related to terminal illnesses. Based in Bay City, Michigan, Hospice Advantage operates as a subsidiary of Hospice Compassus, Inc.

Woodcraft Industries

Debt Financing in 2011
Woodcraft Industries offers its customers the expertise, knowledge, and combined capabilities needed to meet their exact specifications each and every time. Possessing a commitment to quality and integrity unmatched in the industry, Woodcraft Industries continues in its quest to provide excellence in manufacturing, while supplying customers with on-time, superior products and service. Bringing with him a determination to provide the absolute best in wood craftsmanship, German furniture builder Theodore Ritsche immigrated to America in 1923. It was then in 1945 he opened Woodcraft Industries, Inc., a small cabinet and fixture shop in St. Cloud, MN. The next half-century would see Woodcraft Industries grow to become one of the nation's leading manufacturers of volume hardwood and laminated components.

Norwesco

Venture Round in 2008
Norwesco, Inc. is North America's leading manufacturer of proprietary rotationally molded polyethylene tanks for agricultural, water, closed-top industrial and below ground septic and cistern applications. Norwesco was founded in 1939 in St. Paul, Minnesota under the name of Northwest Plastics, Inc. The name was changed in 1973 and at that time Norwesco was ranked as one of the oldest and largest plastic processors in the United States. Norwesco had been a publicly traded company until January 1988 when Norwesco, Inc. was acquired and taken private by its management and private equity investors. In 2008 they were acquired by Olympus Partners and became part of Tank Holding Company along with tank manufacturer Snyder Industries. Their current financial partner is Leonard Green & Partners, L.P. Over the years they have significantly expanded their geographic presence through the addition of facilities throughout the United States and Canada. They currently operate 14 plants and are the third largest rotational molder in North America. Norwesco's rotational molding of tanks began in 1980 with a single plant in St. Bonifacius, Minnesota. Now, that plant is the headquarters for thirteen additional manufacturing facilities across the U.S. and Canada. Norwesco is the world's largest supplier of rotationally molded tanks and Plastics News has ranked us as one of the top ten rotational molders in North America!

Ryt-Way Industries

Venture Round in 2008
Ryt-Way Industries is a prominent contract packager and manufacturer specializing in dry food products in North America. The company offers a comprehensive range of services, including packaging, logistics, and contract manufacturing, catering to various food items such as ready-to-eat cereals, snack mixes, baking mixes, and more. Ryt-Way is recognized for its flexibility and scalability, enabling it to meet diverse customer requirements effectively. As a vertically-integrated supplier, Ryt-Way also stands out as the leading producer of breadcrumbs in the United States, accounting for over 60 percent of the market. In addition to its packaging capabilities, Ryt-Way designs and builds packaging equipment for various applications, further enhancing its expertise in the industry. By collaborating closely with clients, Ryt-Way focuses on delivering tailored solutions and continuous improvements to ensure marketplace success.

Teraco

Debt Financing in 2005
Teraco was founded in 1962. The first manufacturing facility was located in Minneapolis, Minnesota on Terrace Street which is how they got their name, Teraco. In 1970 Teraco moved to the current location in Midland, Texas. In June of 2008 Teraco Inc. purchased the assets of Innovative Plastic Card Printing Corporation. Since that time Innovative and Teraco have worked together to maximize the combination of their strengths and operate as one company. As of June 2015, Teraco consolidated their Roselle, IL manufacturing equipment into their Midland, TX facility. They now have substantial capacity and redundancy under one roof. Consumer trends and use of plastic cards has changed over the years. Teraco continues to evolve as a supplier and adapt to industry demands; however, their commitment to customers remains constant. Teraco is synonymous in the market place for Speed, Service and Solutions. The custom nature of their products emphasizes the relationship aspect of their business. Rather than just fulfill the order they want to partner with their customers to develop the best solution for each job. All of this is done with the service you expect at the speed you need!

Teraco

Venture Round in 2005
Teraco was founded in 1962. The first manufacturing facility was located in Minneapolis, Minnesota on Terrace Street which is how they got their name, Teraco. In 1970 Teraco moved to the current location in Midland, Texas. In June of 2008 Teraco Inc. purchased the assets of Innovative Plastic Card Printing Corporation. Since that time Innovative and Teraco have worked together to maximize the combination of their strengths and operate as one company. As of June 2015, Teraco consolidated their Roselle, IL manufacturing equipment into their Midland, TX facility. They now have substantial capacity and redundancy under one roof. Consumer trends and use of plastic cards has changed over the years. Teraco continues to evolve as a supplier and adapt to industry demands; however, their commitment to customers remains constant. Teraco is synonymous in the market place for Speed, Service and Solutions. The custom nature of their products emphasizes the relationship aspect of their business. Rather than just fulfill the order they want to partner with their customers to develop the best solution for each job. All of this is done with the service you expect at the speed you need!
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