News

September 30, 2004

Norwest Mezzanine Partners Invests $8.25 Million in The Evercare Company

Norwest Mezzanine Partners invested $7.5 million of senior subordinated debt and $750,000 of equity in The Evercare Company, the dominant producer and marketer of lint-brushes and ancillary products designed to clean, organize, and protect clothing and homes. Evercare’s leadership in the lint roller category has roots in its nearly 50 years of consumer research and development activities, and their products can be found in over 60,000 retail establishments in the U.S. alone.

Protostar Partners 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.