News

September 30, 2005

Norwest Mezzanine Partners invests $30 million in PPI International, Inc.

Norwest Mezzanine Partners invested $27.5 million of senior subordinated debt and $2.5 million of equity in Precision Parts International, LLC (“PPI”), a leading designer and manufacturer of precision metal components and subassemblies for diversified automotive, aviation and industrial customers, with a core focus on power train and other mission-critical applications.  PPI specializes in complex precision metal forming process technologies and operates in three key segments: Fineblanking, Precision Stamping and Precision Gearing.  PPI is headquartered in Rochester Hills, Michigan and has facilities in Indiana, South Carolina, Wisconsin, Cleveland and Ohio.

First Atlantic Capital served as the private equity sponsor on this transaction. Visitwww.firstatlanticcapital.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.