Faegre Baker Daniels represented Momentum Group, a textile industry leader and portfolio company of Norwest Equity Partners (NEP), in its sale to private equity firm The Riverside Company. The deal closed April 1, and terms and transaction value were not disclosed.
NEP invested in Momentum Group in 2011, and over the course of its investment period, saw an organic doubling of the company’s EBITDA along with significant revenue growth. Based in Irvine, California, Momentum Group designs and distributes textiles for offices and for use in health care and hospitality sectors.
FaegreBD Corporate Partners Bruce Engler and Ryan Miske led FaegreBD’s deal team advising Momentum Group, which also included Ashley Dorman, Brian Jacobson, Matthew Levy, Jennifer Mewaldt, Matthew Piehl, Gary Weinstein and Peter Withoff.
Minneapolis-based NEP has been building growing, profitable and scalable middle market companies since 1961 and has deep experience working with industry-leading distribution companies.