Private Equity Firm Other

Norwest Equity Partners

Minneapolis, Minnesota, United States

Norwest Equity Partners (NEP), a Norwest Capital strategy, champions good businesses by investing in growing and profitable middle-market companies primarily across business services, consumer products and services, and industrial growth sectors. The firm aims to create enduring long-term value and build industry leaders.

Focus Areas
Middle-market private equity, Business services, Consumer products and services
Website
nep.com

Tracked deals

16

16 tracked deals across 2006-2026.

Recent pace

1

1 tracked deal announced in the last 12 months.

Deal mix

Buyout

9 buyout · 3 addon · 2 growth capital

Norwest Equity Partners Acquisition Volume by Year

Last 7 years

Acquisition volume by year Annual acquisition counts for the last 7 years for Norwest Equity Partners. 1 2019 2 2020 3 2021 3 2022 3 2023 2 2024 ~1 est. 1 2026
Actual Full-year estimate

Supporting Data

Recent Transactions

Showing the 12 most recent of 16 tracked deals for Norwest Equity Partners.

  • Buyer
    Norwest Equity Partners
    Target
    E-Z UP
    Seller
    Beach Point Capital
    Industry
    Manufacturing
    Type
    Buyout

    Norwest Equity Partners acquired E-Z UP, a manufacturer of portable canopies, shelters and related products, from Beach Point Capital. The acquisition supports E-Z UP’s next phase of growth, including expansion of its B2B business, product development and potential acquisitions; Beach Point later announced that the sale had successfully closed on October 13, 2026.

  • Buyer
    Norwest Equity Partners
    Target
    MDC Interior Solutions
    Type
    Buyout

    Norwest Equity Partners (NEP) has acquired MDC Interior Solutions, a 50+ year provider of commercial interior wallcoverings and design solutions. The transaction closed April 26, 2024; NEP will partner with MDC management to support growth initiatives and expand the company's end markets and product portfolio.

  • Buyer
    GP-led continuation fund (managed by an affiliate of Morgan Stanley Capital Partners), Pantheon, Blue Owl Strategic Equity, Lexington, Norwest, Ares Management Funds, AltamarCAM, Churchill
    Target
    World 50 Parent LLC (World 50)
    Seller
    Investment funds managed by Morgan Stanley Capital Partners (MSCP)

    Investment funds managed by Morgan Stanley Capital Partners (MSCP) sold World 50 to a single-asset, GP-led continuation fund managed by an affiliate of MSCP. The continuation vehicle was led by investments from Pantheon with co-lead participation from Blue Owl Strategic Equity and Lexington; Norwest, Ares Management Funds, AltamarCAM and Churchill also committed, providing liquidity to the selling funds and capital to support World 50's next growth chapter.

  • Buyer
    Norwest Equity Partners
    Target
    United Sports Brands
    Seller
    Bregal Partners
    Type
    Buyout

    Norwest Equity Partners (NEP) has acquired United Sports Brands (USB), a portfolio of sporting goods and active lifestyle brands including Shock Doctor, McDavid, Cutters, Nathan, PEARL iZUMi, and Glukos. The transaction closed on November 20, 2023; financial terms were not disclosed. NEP said it will invest capital and resources to strengthen USB’s core business and expand its international presence; USB was previously owned by Bregal Partners.

  • Buyer
    Norwest Equity Partners
    Target
    Nationwide Organ Recovery Transport Alliance (NORA)

    Norwest Equity Partners has made an investment in Nationwide Organ Recovery Transport Alliance (NORA), a St. Charles, Illinois–based provider of specialized air, ground and courier transportation services for the organ and tissue transplant industry. Northborne Partners served as exclusive financial advisor to NORA; financial terms were not disclosed. NEP's investment is intended to support NORA's continued growth, capability expansion and service delivery to organ procurement organizations, transplant centers and perfusion technology providers.

  • Buyer
    Coretelligent, Norwest Equity Partners
    Target
    NetCom Systems, Inc.
    Industry
    IT Services
    Type
    Addon

    Coretelligent, a PE-backed managed IT and cybersecurity provider, has acquired NetCom Systems, Inc., a Roswell, Georgia-based managed services firm with 36 years of regional experience. The deal, announced jointly with Coretelligent investor Norwest Equity Partners, expands Coretelligent's service capabilities and strengthens its presence in the Southern United States; financial terms were not disclosed.

  • Buyer
    Norwest Equity Partners
    Target
    QTI Fibers
    Seller
    Highlander Partners, L.P.
    Industry
    Manufacturing
    Location
    United States
    Type
    Buyout

    Norwest Equity Partners (NEP) completed a transaction to acquire QTI Fibers, a vertically integrated designer and manufacturer of technical fibers, fabrics and coated materials, on July 1, 2022. NEP intends to support product, customer and end-market expansion at QTI, which operates major manufacturing facilities in Dothan, Alabama and Colfax, North Carolina; management will be led by Allen Smith (CEO) with Roger Arciniega as Non‑Executive Chairman.

  • Buyer
    Coretelligent, Norwest Equity Partners
    Target
    Lighthouse Technology Partners
    Industry
    IT Services
    Type
    Addon

    Coretelligent, a Norwest Equity Partners‑backed managed IT and cybersecurity provider, has acquired Lighthouse Technology Partners, a Greenwich, Connecticut managed services provider. The deal brings Lighthouse's managed IT, cybersecurity and cloud consulting capabilities and client relationships (including finance, life sciences/healthcare and professional services clients) into the Coretelligent platform to expand capabilities and scale.

  • Buyer
    Coretelligent, Norwest Equity Partners
    Target
    Chateaux
    Industry
    IT Services
    Type
    Addon

    Coretelligent, backed by Norwest Equity Partners, has acquired Chateaux, a Norwalk, Connecticut-based technology services and solutions provider. The add-on deal (terms not disclosed) expands Coretelligent's managed IT, cloud and digital transformation capabilities and brings Chateaux's clients in finance, energy, healthcare/life sciences and utilities into the platform; Chateaux principals will remain in leadership roles.

  • Buyer
    Norwest Equity Partners
    Target
    Thibaut
    Type
    Buyout

    Norwest Equity Partners (NEP) completed an investment in Thibaut, a long-established designer and supplier of premium wallcoverings, fabrics, and furnishings, on November 9, 2021. The PE investment will support Thibaut's growth plans across product offerings, market channels, and geographies; financial terms were not disclosed.

  • Buyer
    Norwest Equity Partners
    Target
    Coretelligent
    Seller
    VSS Capital Partners
    Industry
    IT Services
    Type
    Buyout

    Norwest Equity Partners (NEP) has acquired Coretelligent, a Westwood, Massachusetts-based managed IT, cybersecurity, and cloud services provider. VSS Capital Partners sold the company but will remain a minority investor; financial terms were not disclosed. NEP intends to partner with founder and CEO Kevin Routhier to scale Coretelligent organically and through strategic acquisitions.

  • Buyer
    Norwest Equity Partners
    Target
    recteq

    Norwest Equity Partners (NEP) made a significant growth investment in recteq, a designer, marketer and direct-to-consumer seller of premium pellet grills, closing on January 29, 2021. The investment will support recteq's product, channel and geographic expansion while partnering with founders Ron Cundy and Ray Carnes; financial terms were not disclosed.

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