News

July 19, 2006

Norwest Mezzanine Partners Invests $13.7 Million in Continental Structural Plastics, Inc.

Norwest Mezzanine Partners invested $10.8 million of senior subordinated debt and $2.9 million of equity in Continental Structural Plastics, Inc. (CSP) to support the acquisition of substantially all of the assets of ThyssenKrupp Budd Company’s plastics division.  CSP is a manufacturer of compression-molded composite parts and components serving OEMs and Tier I suppliers in the automotive, air conditioning and general industrial end-markets.  Following the acquisition, CSP remains headquartered in the metro-Detroit area and now supplies the North America market from manufacturing operations in Petoskey, Michigan; Sarepta, Louisiana; Tijuana, Mexico; and Conneaut, Van Wert, North Baltimore and Carey, Ohio. As a result of the acquisition, CSP is the largest compression molder of industrial composites in North America.

Richard L. Scott Investments, LLC, served as the private equity sponsor on this transaction.

NMP Contact: Carter Balfour, 612-215-1664, cbalfour@nmp.com

Norwest Equity Partners (NEP) is a leading middle market investment focused on partnering with business owners and building companies into industry leaders. With a reputation for quality investments and exceptional financial returns since 1961, NEP manages nearly $5 billion of capital through a series of equity and mezzanine funds. Offering creative and flexible transaction solutions through management buyouts, recapitalizations and growth financings, NEP seeks $30-$150 million equity investment opportunities for growing and profitable companies within the agriculture, applied technology, business services, consumer products and services, distribution, healthcare and industrial industry sectors. NEP is headquartered in Minneapolis, Minnesota; please visit nep.com for more information.