Norwest Equity Partners (NEP)

Norwest Equity Partners (NEP) is a prominent middle market investment firm established in 1961, known for its commitment to partnering with business owners to transform companies into industry leaders. The firm has successfully raised over $7 billion through various equity and mezzanine funds, emphasizing quality investments and strong financial returns. NEP provides flexible transaction solutions, including management buyouts, recapitalizations, and growth financings, and prioritizes long-term relationships to assist stakeholders in achieving liquidity at optimal times. The firm seeks equity investment opportunities ranging from $30 million to over $250 million in profitable, growing companies across sectors such as agriculture, business services, consumer products, distribution, diversified industrials, energy, and healthcare. NEP is headquartered in Minneapolis, Minnesota.

Tony Armand

Partner

Sundip Murthy

Partner

Past deals in Minnesota

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.

Eyebobs

Private Equity Round in 2015
Eyebobs, LLC is a Minneapolis-based eyewear company founded in 2001, dedicated to providing distinctive and high-quality eyewear and accessories for men and women. The company specializes in reading glasses, sunreaders, sunglasses, bifocals, and various frame styles, ranging from conservative to avant-garde. Eyebobs aims to bridge the gap between inexpensive mass-market readers and high-end designer frames, offering stylish options that cater to the smart and fashion-conscious consumer. In addition to eyewear, the company provides a variety of accessories, including cleaning kits, leather cases, and display trays. Eyebobs sells its products through its online platform, as well as in retail stores and through wholesalers, both domestically and internationally. With a mission to outfit individuals who wish to express their unique style, Eyebobs has cultivated a brand that resonates with those who embrace their individuality.

DCM Services

Private Equity Round in 2007
DCM Services focuses exclusively on deceased and probate-based account recovery, providing estate asset recovery and specialty collections for creditors across industries such as credit cards, healthcare, auto leasing, retail, telecommunications, and utilities in the United States. The company pursues recoveries through the estate process by engaging appropriate estate representatives while minimizing contact with surviving family members, thereby protecting client brands and honoring the decedent's intentions. Its data-driven platform and proprietary web-based solutions support both full outsourcing and internal workflows, enabling higher recoveries, improved brand protection, and respectful survivor relationships. Founded in 1999 and headquartered in Minneapolis, DCM Services emphasizes empathy and efficiency in probate-based collections, including tools that cross-reference date of death information and streamline probate filing and claims processes.

Lindstrom Metric

Private Equity Round in 2006
Founded in 1972, Lindstrom Metric is a leading distributor of metric fasteners. It offers an extensive range of products including screws, bolts, nuts, washers, and other related items. The company serves customers across the United States and Canada through its locations in Blaine (MN), Greer (SC), Beacon (NY), and Elgin (IL). Lindstrom Metric specializes in hard-to-find sizes and finishes, providing customized solutions to meet clients' specific needs.

Norwesco

Private Equity Round in 1998
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.

Sleep Number

Private Equity Round in 1994
Sleep Number Corporation is a wellness technology company based in Minneapolis, Minnesota, that specializes in sleep solutions and services in the United States. Founded in 1987, the company designs, manufactures, markets, and retails a range of products under the Sleep Number brand, including beds, pillows, sheets, and adjustable bases. Its innovative offerings include temperature-balancing products and smart beds under the Sleep Number 360 brand, as well as specialized beds for children. Sleep Number sells its products directly to consumers through various channels, including retail stores, online platforms, and phone services, ensuring a comprehensive shopping experience. As of early 2020, the company operated approximately 610 stores across 50 states. Sleep Number Corporation, previously known as Select Comfort Corporation, changed its name in November 2017 to better reflect its focus on sleep wellness.

Michaels of Oregon

Private Equity Round in 1993
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.

MSP Communications

Private Equity Round in 1992
MSP Communications is a Minneapolis-based content marketing agency with over 43 years of experience in delivering effective and persuasive content across various channels, including owned, earned, and paid media. The agency caters to a diverse clientele, including market leaders in business, technology, healthcare, and consumer brands, who rely on its expertise to develop and implement sustainable content marketing programs. MSP Communications has produced nearly 200 publication titles for Fortune 100 companies, associations, and small to mid-sized corporations. By offering a range of services, including digital strategy, advertising, blogs, infographics, and thought leadership, the company ensures that its content marketing initiatives are scalable and seamlessly integrate with traditional marketing efforts.
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