Norwest Mezzanine Partners Invests in Apothecary Products Alongside Norwest Equity Partners
March 04, 2014
Minneapolis, Minnesota – Norwest Mezzanine Partners (NMP) has announced that it has contributed a $20.8 million subordinated debt and equity combined investment to support Norwest Equity Partners (NEP) in its acquisition of Apothecary Products, a leading innovator, manufacturer and distributor of consumer healthcare products and pharmacy supplies.
Founded in 1975, Apothecary is a privately-held company with hundreds of patents and thousands of SKUs selling pharmaceutical and consumer healthcare products to independent and chain pharmacies, food and mass retailers, and distributors and wholesalers worldwide. Apothecary offers its customers a one-stop-shop solution with unmatched product breadth of both over-the-counter consumer health products and behind-the-counter pharmacy supplies, spanning across three categories, including pharmacy supply, medication management, and home healthcare.
“As a category leader driven by medical compliance within the healthcare consumer products industry, Apothecary has earned a solid reputation built over the years, maintains long-term customer relationships, and generates solid financial performance,” stated John Hogan, a NMP partner. “On behalf of the entire NMP team, we are excited about this investment opportunity and to work with both management and NEP to help support Apothecary’s future growth opportunities.”
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.
Apothecary is headquartered in Burnsville, Minnesota, operates a manufacturing facility in St. Charles, Michigan, and has several strategic manufacturing partners in the U.S. and internationally. Please visitwww.apothecaryproducts.com to learn more.