News

February 10, 2004

Norwest Mezzanine Partners Invests $17.0 Million in Crosman Corporation

Norwest Mezzanine Partners invested $14.0 million of senior subordinated debt and $3.0 million of equity in Crosman Corporation (“Crosman”), the world’s leading manufacturer of recreational airgun and paintball products.  Headquartered in East Bloomfield, NY, Crosman is the preeminent brand in the airgun industry and markets a full line of air rifles, air pistols, airgun consumables, and accessories.  Crosman owns the trademarked brands Crosman, Benjamin Sheridan, Copperhead, Game Face, and Crosman Soft Air, and has licensing and distribution rights with Remington, Walther, Colt, Smith & Wesson, Beretta, and Logun.

The Compass Group served as the private equity sponsor on this transaction. Visitwww.compassequity.com for more information.

NMP Contact: Shani Graber, 612-215-1694, sgraber@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.