Norwest Mezzanine Partners Supports Mill Point Capital’s Acquisition of Metal Powder Products
February 16, 2018
Minneapolis, Minnesota – Norwest Mezzanine Partners (NMP) has invested a combination of subordinated debt and equity securities in support of Mill Point Capital’s portfolio company, Metal Powder Products, LLC (MPP), acquisition of NetShape Technologies Inc., a provider of customer solutions of engineered metal components using powdered metal and metal injection molding (“MIM”) technologies.
Sean Stevens, NMP Partner, stated, “Mill Point has created a global leader in the powder metallurgy industry with a highly experienced management team led by Dennis McKeen. We are very impressed with the leadership and resources that Mill Point has brought to this transaction. We look forward to a very successful partnership together.”
MPP, founded in 1948 and headquartered near Indianapolis, Indiana, is a leading global provider of custom engineered powdered metallurgy solutions for industrial applications. The company specializes in the production of various components, including custom-engineered gears and sprockets, complex structural parts, high strength aluminum parts and components requiring unique mechanical and physical properties, for use in high stress, wear and magnetic applications. For more information, please visit www.metalpowder.com.
“We appreciate the partnership approach taken by Norwest Mezzanine Partners. They were flexible and responsive through the entire process, and most importantly, were highly reliable. They followed through with what they said they would do from the beginning,” commented Dustin Smith, Mill Point Capital Partner.
About Mill Point Capital
Mill Point Capital is a middle-market private equity firm focused on control-oriented investments in the business services and industrial sectors. The firm works with executive partners to leverage its investment professionals’ experience while providing strategic and operational guidance to drive long-term value creation in its portfolio companies. Mill Point is based in New York, NY. For more information, please visit www.millpoint.com.