Norwest Mezzanine Partners

Founded in 2000, Norwest Mezzanine Partners is a Minnesota-based investment firm that provides junior capital solutions to middle market companies across various industries. It partners with private equity firms to drive value for portfolio companies and create successful outcomes for stakeholders.

Carter Balfour

Partner

Shani Graber

Managing Director

Laura Hacker Dorsch

Principal

John Hogan

Partner

Parker Montgomery

Senior Associate

Michael Orke

Associate

Sean Stevens

Partner

Austin Wilson

Vice President

Past deals in Midwestern US

Red Monkey Foods

Private Equity Round in 2020
Red Monkey Foods, located in the Ozark Mountains of Southwest Missouri, specializes in creating innovative, high-quality spices and seasonings that cater to the evolving demands of consumers. The company is dedicated to providing flavorful products that address issues such as time constraints, flavor fatigue, and health concerns, while ensuring all offerings are free from MSG and contain lower sodium. Red Monkey Foods prioritizes quality by sourcing herbs and spices from the current year's crop and maintaining small inventory levels to guarantee freshness. With a commitment to customer satisfaction, the company offers a 100% satisfaction guarantee on all products. In addition to its product line, Red Monkey Foods fosters a community around cooking by providing tips, recipes, and encouraging customer engagement through video submissions. Their focus on organic and all-natural ingredients, combined with competitive pricing and superior customer service, positions Red Monkey Foods as a fun and reliable choice for both retailers and consumers seeking unique flavor experiences.

United Poly Systems

Private Equity Round in 2019
United Poly Systems, LLC is a manufacturer of high-density polyethylene (HDPE) pipes, established in 2011 and headquartered in Springfield, Missouri, with an additional office in Albuquerque, New Mexico. Founded by Jim Massengale and Bert Bridges, the company leverages over 40 years of combined industry experience to serve various sectors, including telecommunications, power utilities, electrical, sewer, portable water, and oil and gas collection. United Poly Systems specializes in producing HDPE pipes with diameters ranging from ¾” to 16”, offering both pressure pipes for fluid transmission and duct pipes for cable and electrical transmission. The company prides itself on its ability to quickly adapt to customer needs while maintaining lower overhead costs compared to larger competitors, thereby providing a competitive freight advantage that enhances its service capability across much of the U.S. market. As infrastructure initiatives continue to grow, the demand for HDPE pipe is expected to expand, positioning United Poly Systems favorably within the industry.

Ramsey Industries

Private Equity Round in 2017
Ramsey Industries, Inc. is a manufacturer based in Tulsa, Oklahoma, specializing in the design and production of service cranes, industrial and commercial winches, and planetary gear drives. The company offers a diverse range of equipment, including work-ready trucks, crane service bodies, and an array of winches tailored for various applications such as towing and recovery, utility, oil and gas, mining, forestry, military, and mobile fleet services. Through its subsidiary brands, including Auto Crane, Eskridge, and Ramsey Winch, the company emphasizes safety and reliability in its products, which are crucial for mission-critical operations. Established in 1944 and originally known as Ramsey Brothers Tool & Die, Ramsey Industries operates a manufacturing, sales, and service facility in Olathe, Kansas, and serves clients across a global dealer network.

West Star Aviation

Private Equity Round in 2016
Founded in 1952, West Star Aviation specializes in comprehensive maintenance, repair, and overhaul services for the business aviation industry. The company offers a wide range of services including airframe and engine repair, avionics installation and repair, interior refurbishment, paintwork, parts sales, and FBO services for transient aircraft at its locations in Grand Junction, Colorado; East Alton, Illinois; Aspen, Colorado; and Chattanooga, Tennessee.

Encore Rehabilitation Services

Venture Round in 2016
Encore Rehabilitation Services, LLC, founded in 2007 and based in Farmington, Michigan, specializes in providing a comprehensive range of therapy services, including physical, occupational, respiratory, and speech therapy. The company focuses on delivering rehabilitative therapy solutions tailored to the needs of nursing homes, skilled nursing facilities, assisted living facilities, and home health agencies. By employing a unique service-delivery model, Encore fosters strong relationships with its clients, employees, and residents, emphasizing visibility, communication, and clinical support. In addition to its core therapy offerings, the company also provides compliance and revenue cycle support services, enabling healthcare organizations to enhance their operational effectiveness and patient care.

Bix Produce Company

Private Equity Round in 2015
Bix Produce Company, LLC, founded in 1930 by Max Bix, is a prominent distributor of bulk and pre-cut fruits and vegetables, dairy products, cheese, and nuts. Headquartered in Saint Paul, Minnesota, the company serves a diverse clientele that includes restaurants, hotels, educational institutions, country clubs, and food service distributors across Minnesota, Western Wisconsin, and Fargo, North Dakota. Bix Produce has evolved from its humble beginnings with a single truck into a regional leader in the foodservice industry, emphasizing high-quality products and exceptional customer service. The company's state-of-the-art processing facility operates six days a week, employing over 260 professionals who are dedicated to meeting the needs of their customers. In response to growing demand, Bix Produce has expanded its operations, including additional refrigerated warehouse space to accommodate organic and specialty produce offerings. Under the ownership of Randy Wilcox since 1980, Bix Produce continues to uphold its founding philosophy of delivering premium products on customers' schedules.

Monroe Truck Equipment

Venture Round in 2015
Monroe Truck Equipment, Inc. is a manufacturer and distributor of specialized truck equipment, primarily focused on snow and ice control solutions. Founded in 1958 and based in Monroe, Wisconsin, the company has expanded its operations to several locations across Wisconsin, Illinois, Michigan, and Kentucky. Monroe Truck Equipment offers a comprehensive range of products, including dump, service, platform, and van bodies, as well as vehicle modifications tailored for fleet and commercial use. Their services encompass the design, installation, and upfitting of vehicles, ensuring performance-driven solutions for municipal, commercial, and fleet customers. The company is recognized for its customer-centric approach, characterized by flexibility and a commitment to quality, which has facilitated its rapid growth in the industry. Additionally, Monroe Truck Equipment provides online access to its products, enhancing distribution to dealers, fleets, and end users.

Encore Rehabilitation Services

Venture Round in 2015
Encore Rehabilitation Services, LLC, founded in 2007 and based in Farmington, Michigan, specializes in providing a comprehensive range of therapy services, including physical, occupational, respiratory, and speech therapy. The company focuses on delivering rehabilitative therapy solutions tailored to the needs of nursing homes, skilled nursing facilities, assisted living facilities, and home health agencies. By employing a unique service-delivery model, Encore fosters strong relationships with its clients, employees, and residents, emphasizing visibility, communication, and clinical support. In addition to its core therapy offerings, the company also provides compliance and revenue cycle support services, enabling healthcare organizations to enhance their operational effectiveness and patient care.

Power Products

Venture Round in 2014
Power Products is a global, diversified electrical products platform headquartered in Menomonee Falls, Wisconsin, with operations in the Netherlands, New Zealand, Mexico, Canada, and the United States. The company serves aftermarket and original equipment manufacturer customers across electrical construction and maintenance, recreational marine and specialty vehicles, industrial power, and transportation, leveraging leading brands within its portfolio. Its origins trace to Gardner Bender, founded in 1959, and the organization emphasizes innovation and customer engagement as part of its long-standing heritage and growth.

Kuss Filtration

Venture Round in 2011
GVS Filtration is a leading provider of air and liquid filtration solutions, serving a diverse global market with a focus on light-duty automotive applications. With a legacy spanning over 60 years, the company originated from the entrepreneurial efforts of Ralph Kuss, who founded the business in 1949 in Findlay, Ohio. Initially producing vinyl liners, the company diversified into various filtration products, establishing a reputation for innovation and quality. After several transitions, including ownership changes and global expansion with manufacturing facilities in France, Brazil, and China, GVS Filtration has solidified its presence in the industry. The company's mission is to exceed customer expectations by delivering effective filtration solutions that also contribute to reducing environmental emissions, adhering to regulatory standards, and maintaining high-quality management practices.

Woodcraft Industries

Debt Financing in 2011
Woodcraft Industries is a prominent manufacturer specializing in hardwood and engineered wood components for the kitchen and bathroom cabinet industry. Founded in 1945 by German furniture builder Theodore Ritsche in St. Cloud, Minnesota, the company has evolved from a small cabinet and fixture shop into one of the nation's leading producers of volume hardwood and laminated components. Woodcraft Industries is dedicated to delivering high-quality products, including assembled doors, cabinet fronts, trays, and frames, while ensuring on-time service and a commitment to customer satisfaction. With a focus on superior craftsmanship and integrity, the company aims to meet its customers' precise specifications consistently.

Liberty Dialysis

Venture Round in 2010
Liberty Dialysis, LLC, based in Mercer Island, Washington, develops, owns, and operates dialysis clinics across the United States. Founded in 2002, the company is dedicated to providing quality care for patients with chronic kidney disease through a comprehensive approach that includes outreach programs and home dialysis options. Liberty Dialysis emphasizes patient education, aiming to inform patients, their families, and the community about kidney health. The company operates clinics in multiple states, including Alaska, California, Colorado, Connecticut, Delaware, Hawaii, Idaho, Indiana, Maryland, Michigan, Nevada, New Jersey, New York, North Carolina, Ohio, Oklahoma, Pennsylvania, Texas, Utah, Virginia, West Virginia, and Wisconsin. As of 2012, Liberty Dialysis operates as a subsidiary of Fresenius Medical Care AG & Co. KGaA.

SWS Environmental Services

Venture Round in 2008
SWS Environmental Services, Inc. is a prominent provider of environmental services in the United States, catering to private industry and government clients. Established in 1974 and based in Panama City Beach, Florida, the company specializes in a comprehensive range of services, including emergency spill response, disaster recovery, site remediation, hazardous waste disposal, demolition, and industrial cleaning. SWS also offers technical services such as groundwater investigations, environmental auditing, and regulatory compliance support. With service centers strategically located across multiple states, including Alabama, Florida, and Texas, SWS Environmental Services has significantly expanded its capabilities over the years, evolving from a small waste management company into one of the largest environmental firms in the country. The company's commitment to safety, reliability, and customer satisfaction underpins its mission to deliver unmatched value in environmental solutions.

Norwesco

Venture Round in 2008
Norwesco, Inc. is a prominent manufacturer of rotationally molded polyethylene tanks, primarily serving agricultural and industrial sectors in North America. Established in 1939 in St. Paul, Minnesota, the company originally operated as Northwest Plastics, Inc. before rebranding in 1973. It has grown to become the largest supplier of rotationally molded tanks globally, operating 14 manufacturing facilities across the United States and Canada. Norwesco's product offerings include liquid storage tanks, water and waste management tanks, valves, couplers, and fittings. The company has significantly expanded its geographic footprint and is recognized as one of the largest rotational molders in North America. Over the years, Norwesco has undergone several ownership changes, with its most recent acquisition by Olympus Partners in 2008, which positioned it as part of Tank Holding Company alongside Snyder Industries.

UMA Enterprises

Venture Round in 2008
UMA Enterprises, Inc. is a prominent importer and wholesaler in the home decor industry, established in 1979 and headquartered in Compton, California. The company offers an extensive range of products, including tabletop accessories, wall decor, accent furniture, floral and garden items, and holiday decor, with a catalog featuring over 8,000 items. UMA serves both wholesale and retail merchants and is committed to providing a diverse selection, competitive pricing, prompt shipments, and excellent customer service. The company maintains showrooms in California, Atlanta, and High Point, as well as representative showrooms in Columbus, Ohio; Dallas, Texas; and Seattle, Washington. With over three decades of experience, UMA Enterprises has established itself as a key player in the home decor market.

UMA Enterprises

Debt Financing in 2008
UMA Enterprises, Inc. is a prominent importer and wholesaler in the home decor industry, established in 1979 and headquartered in Compton, California. The company offers an extensive range of products, including tabletop accessories, wall decor, accent furniture, floral and garden items, and holiday decor, with a catalog featuring over 8,000 items. UMA serves both wholesale and retail merchants and is committed to providing a diverse selection, competitive pricing, prompt shipments, and excellent customer service. The company maintains showrooms in California, Atlanta, and High Point, as well as representative showrooms in Columbus, Ohio; Dallas, Texas; and Seattle, Washington. With over three decades of experience, UMA Enterprises has established itself as a key player in the home decor market.

Avtron Aerospace

Debt Financing in 2007
Avtron Aerospace, Inc. is a leading provider of aerospace test system technologies, specializing in products for both commercial and military aviation markets. Founded in 1953 and headquartered in Independence, Ohio, the company designs and manufactures automatic test equipment for aircraft electronics, including systems for testing electrical control boxes and flight control units. Avtron's product offerings also encompass generator test systems, hydraulic test stands, and portable ground support equipment, all crucial for the production and maintenance of aircraft components. In addition to its testing solutions, Avtron provides data acquisition systems, bonding meters, and a range of technical support services, including custom training and maintenance. The company serves a diverse clientele, including airlines, third-party maintenance, repair, and overhaul (MRO) shops, as well as original equipment manufacturers (OEMs) and airframers globally. With a focus on innovation and customer service, Avtron Aerospace continues to support the evolving needs of the aerospace industry.

Avtron Aerospace

Venture Round in 2007
Avtron Aerospace, Inc. is a leading provider of aerospace test system technologies, specializing in products for both commercial and military aviation markets. Founded in 1953 and headquartered in Independence, Ohio, the company designs and manufactures automatic test equipment for aircraft electronics, including systems for testing electrical control boxes and flight control units. Avtron's product offerings also encompass generator test systems, hydraulic test stands, and portable ground support equipment, all crucial for the production and maintenance of aircraft components. In addition to its testing solutions, Avtron provides data acquisition systems, bonding meters, and a range of technical support services, including custom training and maintenance. The company serves a diverse clientele, including airlines, third-party maintenance, repair, and overhaul (MRO) shops, as well as original equipment manufacturers (OEMs) and airframers globally. With a focus on innovation and customer service, Avtron Aerospace continues to support the evolving needs of the aerospace industry.

Teraco

Venture Round in 2005
Teraco is a custom print product provider, specializing in the manufacture of a diverse range of items including plastic and gift cards, identification cards, hotel key cards, luggage tags, and employee name badges. Founded in 1962 in Minneapolis, Minnesota, the company relocated to Midland, Texas in 1970, where it has consolidated its operations to enhance production capacity. In 2008, Teraco acquired the assets of Innovative Plastic Card Printing Corporation, enabling a synergistic collaboration that has strengthened its market position. The company is committed to adapting to changing consumer trends while maintaining a focus on customer partnership, emphasizing speed, service, and tailored solutions. Teraco also offers additional services such as card personalization, online proofing, design, printing, mailing, and reporting, ensuring a comprehensive approach to meet the specific needs of its clients.

Teraco

Debt Financing in 2005
Teraco is a custom print product provider, specializing in the manufacture of a diverse range of items including plastic and gift cards, identification cards, hotel key cards, luggage tags, and employee name badges. Founded in 1962 in Minneapolis, Minnesota, the company relocated to Midland, Texas in 1970, where it has consolidated its operations to enhance production capacity. In 2008, Teraco acquired the assets of Innovative Plastic Card Printing Corporation, enabling a synergistic collaboration that has strengthened its market position. The company is committed to adapting to changing consumer trends while maintaining a focus on customer partnership, emphasizing speed, service, and tailored solutions. Teraco also offers additional services such as card personalization, online proofing, design, printing, mailing, and reporting, ensuring a comprehensive approach to meet the specific needs of its clients.

Michaels of Oregon

Debt Financing in 2001
Michaels of Oregon is a prominent manufacturer and distributor specializing in hunting, shooting, and law enforcement accessories. Originally established as a producer of sling swivels for the gunsmith trade, the company has expanded its product line to include a variety of items such as holsters, slings, gun cases, belts, and cleaning products under well-known brands like Uncle Mike's, Hoppe's, and Butler Creek. With its headquarters and manufacturing facility located in Oregon City, Oregon, Michaels of Oregon operates additional sites in Meridian, Idaho, and New Ulm, Minnesota. The company employs approximately 270 individuals and is committed to enhancing customer service through advanced computer and telecommunications systems. Its diverse offerings cater to the needs of law enforcement, shooting enthusiasts, and hunters.
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