Momentum Group, a textile industry leader and portfolio company of Norwest Equity Partners (NEP), was sold to private equity firm The Riverside Company in April 2016. Terms and transaction value were not disclosed. Faegre Baker Daniels represented Momentum Group.
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.
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.