News

November 16, 2007

Norwest Mezzanine Partners Invests In Spinrite, Inc.

Norwest Mezzanine Partners invested a total of $28.4 million of senior subordinated notes, junior PIK notes, and common equity to support the go-private acquisition of Spinrite, Inc., a leading manufacturer and marketer of craft yarns serving the North American retail marketplace.

Sentinel Capital Partners, served as the private equity sponsor for this transaction.  Visit www.sentinelpartners.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.