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Investments

9

Portfolio Exits

4

Funds

4

About Norwest Mezzanine Partners

Founded in 2000, Norwest Mezzanine Partners is a mezzanine financing firm. Norwest Mezzanine Partners invests in mature companies with a preference for companies located in the midwest US, northeast US, southeast US, west. They primarily engage in the following transaction types: acquisition / expansion financing, buyout (lbo, mbo, mbi), consolidation, going private, recapitalization. Norwest Mezzanine Partners invests between $10 and $50 million in companies.

Norwest Mezzanine Partners Headquarter Location

80 South 8th Street Suite 3600

Minneapolis, Minnesota, 55402,

United States

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Latest Norwest Mezzanine Partners News

Yukon Supports Norwest Equity Partners’ Investment in recteq

Feb 9, 2021

February 09, 2021 10:08 AM Eastern Standard Time MINNEAPOLIS--( BUSINESS WIRE )--Yukon Partners (“Yukon”), a provider of mezzanine capital for middle market private equity transactions, is pleased to announce that it has partnered with Norwest Equity Partners (“NEP”) and Norwest Mezzanine Partners (“NMP”) to support an investment in recteq (or the “Company”). recteq is a designer, marketer, and direct seller of premium pellet grills, accessories, and other consumable products. The Company’s product innovation, direct-to-consumer distribution model, long-standing supplier relationships, and top-notch customer service position recteq as a premium brand in the pellet grill space. recteq’s authentic, influential brand also contributes to customer passion and loyalty for all its product offerings. recteq customers are the Company’s best advocates and help drive organic product awareness. Michael Hall, Managing Partner of Yukon, stated, “We are excited to partner with NEP and NMP again, as well as the recteq management team. recteq’s premium products and superior customer service have cemented recteq as a leading, aspirational brand in the fast-growing pellet grill segment.” He added, “NEP brings a strong track record of working with founder-owned consumer businesses and will be a value-added partner for management in the next phase of the Company’s growth.” “On behalf of NEP and NMP, we are delighted to again work collaboratively with our friends at Yukon. This investment continues our decades long partnership. We look forward to supporting recteq’s continued expansion,” shared Tony Armand, NEP Partner. About recteq recteq is a designer, marketer, and direct seller of premium pellet grills, accessories, and other consumable products. Co-founded in 2009 by Ron Cundy and Ray Carnes, recteq prides itself on creating superior products and providing best-in-class customer experience. recteq’s continued technology-driven product innovation, direct-to-consumer distribution model, and top-notch customer service position recteq as a premium brand in the pellet grill space. To learn more, visit www.recteq.com . About Yukon Partners Yukon Partners is an independent and unaffiliated junior capital provider, primarily serving middle market private equity sponsor led business transactions in the U.S. and Canada. The transactions in which Yukon invests include buyouts, growth and platform strategies, recapitalizations, mergers/acquisitions, and public-to-private buyouts. Yukon typically invests up to $50 million per transaction and currently manages approximately $1.6 billion across four funds. Yukon Partners has offices in Minneapolis, Minnesota and Boston, Massachusetts. For more information, please visit www.yukonpartners.com . About Norwest Equity Partners Founded in 1961, Norwest Equity Partners is a leading middle market investment firm that invests equity capital in companies that are leaders in their industry, with proven business models that demonstrate the ability to generate profits. NEP has extensive experience with management buyouts, recapitalizations and growth financings, including working with founder and family-owned companies. Targeted equity investment size range for each transaction is $30 - $250 million and focus industries for investment opportunities include agriculture, business services, consumer, distribution, industrials, energy, and healthcare. Raising more than $7 billion in capital over the years, NEP is currently investing NEP X, a $1.6 billion fund. More information can be found on www.nep.com . Contacts

Norwest Mezzanine Partners Investments

9 Investments

Norwest Mezzanine Partners has made 9 investments. Their latest investment was in Stanton Carpet as part of their Mezzanine on August 8, 2012.

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Norwest Mezzanine Partners Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

8/6/2012

Mezzanine

Stanton Carpet

Yes

GE Capital, NXT Capital, and PNC Capital Markets

11/10/2008

Debt

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$99M

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10

8/17/2005

Private Equity

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$99M

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10

12/27/2004

Growth Equity

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$99M

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10

12/31/2002

Growth Equity

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$99M

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10

Date

8/6/2012

11/10/2008

8/17/2005

12/27/2004

12/31/2002

Round

Mezzanine

Debt

Private Equity

Growth Equity

Growth Equity

Company

Stanton Carpet

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Amount

$99M

$99M

$99M

$99M

New?

Yes

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Co-Investors

GE Capital, NXT Capital, and PNC Capital Markets

Sources

10

10

10

10

Norwest Mezzanine Partners Portfolio Exits

4 Portfolio Exits

Norwest Mezzanine Partners has 4 portfolio exits. Their latest portfolio exit was Stanton Carpet on November 22, 2016.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

11/22/2016

Acq - Fin - II

Quad-C Management

2

00/00/0000

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10

00/00/0000

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10

00/00/0000

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10

Date

11/22/2016

00/00/0000

00/00/0000

00/00/0000

Exit

Acq - Fin - II

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Companies

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Valuation

Acquirer

Quad-C Management

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Sources

2

10

10

10

Norwest Mezzanine Partners Acquisitions

6 Acquisitions

Norwest Mezzanine Partners acquired 6 companies. Their latest acquisition was Ryt-Way Industries on August 12, 2008.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

8/12/2008

Private Equity

Leveraged Buyout

1

2/29/2008

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$99M

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10

10/18/2007

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$99M

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10

12/2/2005

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$99M

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10

8/17/2005

Series B

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$991

$99M

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10

Date

8/12/2008

2/29/2008

10/18/2007

12/2/2005

8/17/2005

Investment Stage

Private Equity

Series B

Companies

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Valuation

$991

Total Funding

$99M

$99M

$99M

$99M

Note

Leveraged Buyout

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Sources

1

10

10

10

10

Norwest Mezzanine Partners Fund History

4 Fund Histories

Norwest Mezzanine Partners has 4 funds, including Norwest Mezzanine Partners IV.

Closing Date

Fund

Fund Type

Status

Amount

Sources

4/14/2015

Norwest Mezzanine Partners IV

Mezzanine (Captive)

$800M

1

9/2/2008

Norwest Mezzanine Partners III LP

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$99M

10

12/31/2004

Norwest Mezzanine Partners II

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$99M

10

12/31/2000

Norwest Mezzanine Partners I

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$99M

10

Closing Date

4/14/2015

9/2/2008

12/31/2004

12/31/2000

Fund

Norwest Mezzanine Partners IV

Norwest Mezzanine Partners III LP

Norwest Mezzanine Partners II

Norwest Mezzanine Partners I

Fund Type

Mezzanine (Captive)

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Status

Amount

$800M

$99M

$99M

$99M

Sources

1

10

10

10

Norwest Mezzanine Partners Team

1 Team Member

Norwest Mezzanine Partners has 1 team member, including current General Partner, Timothy C. Devries.

Name

Work History

Title

Status

Timothy C. Devries

General Partner

Current

Name

Timothy C. Devries

Work History

Title

General Partner

Status

Current

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