News

September 21, 2004

Norwest Mezzanine Partners Invests $13 Million in Mile-Hi Deep Rock, LLC

Norwest Mezzanine Partners invested $10.0 million of senior subordinated debt and $3.0 million of equity in Mile-Hi Deep Rock, LLC (“Deep Rock”), a leading supplier of bottled water and filtration systems to the home and office delivery market and the retail bottled water market.  Deep Rock has distribution locations in Denver, CO, Avon, CO, Grand Junction, CO, Fort Lupton, CO, Omaha, NE, and Minneapolis, MN.

Norwest Equity Partners served as the private equity sponsor on this transaction. Visit www.nep.com for more information.

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.