News

September 2, 2008

Norwest Mezzanine Partners Launches New $500 Million Fund

Minneapolis, Minnesota – Leading mezzanine investor Norwest Mezzanine Partners (“NMP”) has officially launched Norwest Mezzanine Partners III, LP (“NMP III”) with $500 million in commitments. NMP has more than $1 billion in capital under management with the addition of this most recent fund.

Partnering with private equity firms to invest junior capital in middle market companies has been NMP’s focus since its inception in 2000. The fund also boasts flexibility and breadth in its investment charter, giving it a unique advantage over similar entities.

“NMP III is well-poised for continued success. We are seeing increased momentum in the mezzanine market,” stated Timothy DeVries, NMP Managing General Partner. “We take a relationship-oriented approach and are able to offer flexible transaction structures. Both of these traits enable us to generate terrific deal flow with leading middle market private equity firms.”

The first transaction funded by NMP III is a $40 million investment supporting Wind Point Partners’ recent acquisition of Ryt-way Industries, a Minnesota-based contract packager of branded food products. The Ryt-way transaction marks the third time NMP has partnered with Wind Point in an acquisition, a testament to the strength of the firms’ relationship.

NMP invests $10-$50 million per transaction in a variety of industry sectors; the firm’s current portfolio has investments within the industrial products, consumer products, business services, healthcare, and restaurant sectors.

Carter Balfour and John Hogan are General Partners of NMP III. Other investment team members include Shani Graber, Principal; Neal Sette, Associate; and Erik Barner, Analyst. DeVries and John Whaley, Managing Administrative Partner, are also involved with NMP fund activities in addition to their roles with the fund’s affiliated equity investment vehicle, Norwest Equity Partners.

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.