Norwest Mezzanine Partners Invests Alongside Industrial Opportunity Partners in Cummins’ Light Duty Filtration Business

November 14, 2011

Minneapolis, Minnesota – Norwest Mezzanine Partners (NMP) today announced that it has contributed $25.0 million in subordinated debt and equity to support Industrial Opportunity Partners (“IOP”) acquisition of the Light Duty Filtration business of Cummins Inc. (NYSE:CMI), a global leader in the design, manufacture, distribution, and service of engines and related technologies. Post-acquisition, IOP renamed the business Kuss Filtration Inc. (“Kuss”).

As the industry’s leading provider of light duty automotive and industrial filtration solutions, Kuss serves approximately 250 customers globally in a variety of industries, including automotive, industrial equipment, materials handling, lawn and garden, agricultural, and motorcycle industries. Cummins will remain a key customer and supplier to Kuss.

Carter Balfour, a partner at NMP, stated, “We are excited to have the opportunity to invest alongside IOP in Kuss.  With solid management leadership, outstanding technical expertise and long-standing customer relationships, Kuss is well-positioned for continued growth momentum.”

This investment marks the first time that NMP has partnered with IOP. Based in Evanston, Illinois, IOP is an operations-focused private equity firm focused on investments in manufacturing and value-added distribution businesses.

“NMP demonstrated flexibility and support throughout the entire transaction process, and we look forward to more investment opportunities with the NMP team in the future,” stated Bob Vedra, Managing Director from IOP.

Kuss is headquartered in Findlay, Ohio.