News

January 3, 2012

Norwest Mezzanine Partners Invests $30.3 Million In Actagro

Minneapolis, Minnesota – Norwest Mezzanine Partners (NMP) today announced that it has invested $30.3 million in subordinated debt and equity to support Norwest Equity Partners’ (“NEP”) recent investment in Actagro, LLC, a leading developer, manufacturer, and marketer of organic liquid and specialty plant nutrients. This investment was made out of NMP III, a $750 million limited partnership.

With nearly $5 billion of combined capital under management, NEP and NMP are affiliated investment vehicles with strategies focused on providing capital to middle market businesses. Both firms possess flexibility and breadth in their investment charters, giving them a unique advantage over similar entities.

With products designed to complement conventional plant nutrition, Actagro is committed to helping progressive and profitable growers achieve higher, more cost effective crop yields through agronomically sound plant nutrition programs. Actagro is also a natural fit for the firm’s agriculture investment strategy. Both NEP and NMP are current investors in Becker Underwood, an Iowa-based global supplier of non-pesticide specialty chemical and biological products. Since their investments, Becker Underwood has more than doubled in size, broadening its global footprint.

John Hogan, a partner at NMP, stated, “With solid leadership by CEO Carl Ueland and his management team, Actagro is poised for continued growth and performance. On behalf of the NMP team, we are excited to participate in this transaction.”

Founded in 1980 and with currently more than 60 employees, Actagro is headquartered in Biola, California and operates manufacturing facilities in Biola and Osceola, Arkansas.

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.