ACQUISITION: Private Equity Firm Recapitalizes Lindstrom Metric

John Wolz

Private equity firm Norwest Equity Partners has made a “substantial investment” in master distributor Lindstrom Metric LLC, the two firms announced. The transaction, which closed March 31, was structured as a recapitalization. Terms were not disclosed.
Blaine, MN-based Lindstrom has seen success in recent years through both organic growth and acquisitions. In 2002 Lindstrom acquired Metric Systems Int”l, a smaller metric distributor in upstate New York. Most recently, Lindstrom upgraded its South Carolina facility in 2005 and is currently completing expansion of its Chicago operations.
“NEP is a great partner to help us accelerate our growth,” stated Lindstrom CEO Virg Lindstrom. “Its focus on the logistics and distribution sector and its expertise in identifying and executing successful add-on acquisitions made joining the NEP family a natural fit for Lindstrom.”
In addition to Minnesota, Lindstrom operates out of facilities in Greenville, SC; Elgin, IL; and Beacon, NY, to serve its list of more than 2,000 blue chip distributor customers. Web: lindfastgrp.com
NEP partner and Lindstrom board member Erik Torgerson expressed optimism about the deal.
“We expect to see a significant expansion in its market share over the coming years,” Torgerson noted.
Founded in 1961, NEP manages more than $3 billion in capital through offices in Minneapolis and Los Angeles. \ �2006 FastenerNews.com