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 Wisconsin

ECM Industries

Private Equity Round in 2019
ECM Industries, LLC is a manufacturer and supplier of a diverse range of electrical products and systems, primarily serving the construction, maintenance, irrigation, landscaping, and natural gas industries. Founded in 2018 and based in Waukesha, Wisconsin, the company offers a variety of products, including wiring and cable management solutions, corrosion-proof connectors, test instrumentation, and construction lighting. Its brands—Gardner Bender, Sperry Instruments, Bergen Industries, King Innovation, and Calterm—are widely available through leading wholesalers, retailers, catalogs, and e-commerce platforms, ensuring easy access for clients in the electrical industry.

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.

Monroe Truck Equipment

Venture Round in 2015
Monroe Truck Equipment, Inc. is a prominent manufacturer and distributor of specialized truck equipment, focusing on the design, installation, and upfitting of vehicles for municipal, commercial, and fleet applications. Established in 1958 and headquartered in Monroe, Wisconsin, the company offers a diverse range of products, including snow and ice control equipment, dump and service bodies, and custom modifications such as alternative fuel conversions and fleet adjustments. Monroe Truck Equipment distributes its products to dealers, fleets, and individual customers, with an emphasis on quality service and innovative solutions tailored to client needs. The company operates additional locations in DePere, Marshfield, and Joliet, as well as Flint and Louisville, further expanding its reach in the industry. With a strong commitment to customer responsiveness and a hands-on management approach, Monroe Truck Equipment has established itself as a leader in the truck equipment sector.

Power Products

Venture Round in 2014
Power Products LLC, headquartered in Menomonee Falls, Wisconsin, is a global, diversified electrical products platform with locations in The Netherlands, New Zealand, Mexico, Canada and the United States. The Power Products portfolio consists of leading brands for a variety of aftermarket and OEM customer segments in electrical construction and maintenance, recreational marine and specialty vehicles, industrial power, and transportation. Their legacy dates back to 1959 with the founding of Gardner Bender and since then they have built a world-class organization “Powering Innovation, Connecting with Customers.”

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.

Liberty Dialysis

Venture Round in 2010
Liberty Dialysis, LLC, headquartered in Mercer Island, Washington, specializes in the development, ownership, and operation of dialysis clinics across the United States. Established in 2002, the company serves patients with chronic kidney disease by offering outreach programs and home dialysis options. Liberty Dialysis operates numerous clinics in states including Alaska, California, Colorado, and more, aiming to deliver optimal care through patient education and advanced technology. As of February 2012, Liberty Dialysis is a subsidiary of Fresenius Medical Care AG & Co. KGAA, enhancing its capacity to provide comprehensive renal care.
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