Norwest Funds Olympus’ Norwesco Buy
October 9, 2008
Norwest Mezzanine Partners, a middle market-focused mezzanine investor firm based in Minneapolis, invested $40.6 million in debt and equity to fund Olympus Partners’ acquisition of Norwesco Inc.
“We are pleased to have the opportunity to partner with Olympus on this investment,” John Hogan, Norwest partner said. “Our knowledge of Norwesco, our history of working with the management team, and our ability to create a flexible transaction structure helped us to execute this deal quickly and efficiently.”
Norwesco is a St. Bonifacius, Minnesota-based specialty storage tanks manufacturer. Earlier this month, LeveragedFinanceNews.com's sister Web site MergersUnleashed.com reported that Allied Capital Corp. has sold its equity interest in Norwesco to Olympus Partners following the news that Allied’s subsidiary Ciena Capital is filing for bankruptcy.
Norwest was founded in 2000. The firm presently controls $1 billion in capital under management.
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