Top Private Equity Firms in Minnesota

Minnesota, with its thriving business landscape and innovation-driven economy, is home to some of the most prominent private equity (PE) firms in the United States. These firms play a pivotal role in fostering growth across a variety of sectors, from healthcare to manufacturing.

In this article, we’ll explore the top Minnesota private equity firms, highlighting their portfolios, investment focus, and notable contributions.

Norwest Equity Partners

Founded in 1961 and headquartered in Minneapolis, Norwest Equity Partners (NEP) is one of the most well-established private equity firms in the Midwest. NEP focuses on investing in middle-market companies across industries like healthcare, consumer, industrials, and technology. Their approach involves partnering closely with management teams to drive growth and enhance operations.

A standout investment includes their work with Apothecary Products, a leading supplier of consumer healthcare products. NEP’s expertise in strategic growth and operational improvements helped the company expand its market reach and product offerings.

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ShoreView Industries

ShoreView Industries, based in Minneapolis, specializes in investing in entrepreneurial and family-owned businesses. The firm targets companies with revenue between $50 million and $300 million across sectors like manufacturing, business services, and distribution. ShoreView is known for its hands-on approach, working collaboratively with portfolio companies to implement growth strategies.

One notable investment is their partnership with Big Tex Trailers, where ShoreView helped the company achieve significant market expansion and operational efficiencies. Their ability to foster growth while preserving the entrepreneurial spirit of their investments makes ShoreView Industries a key player in Minnesota’s private equity market.

Stone Arch Capital

Stone Arch Capital, headquartered in Minneapolis, focuses on investing in privately held companies in the lower middle market. The firm targets industries such as consumer products, industrial services, and healthcare. Stone Arch is particularly noted for its emphasis on businesses based in the Midwest, leveraging local expertise to unlock growth opportunities.

An exemplary investment is their involvement with Norcraft Companies, a manufacturer of kitchen and bathroom cabinetry. Stone Arch provided strategic guidance and capital that allowed Norcraft to expand its production capacity and market presence.

Tonka Bay Equity Partners

Tonka Bay Equity Partners, also based in Minneapolis, specializes in partnering with niche manufacturing, value-added distribution, and business services companies. They focus on investing in companies with strong leadership teams and growth potential. Tonka Bay’s collaborative approach ensures that their investments align with long-term success.

A notable example of their expertise is their investment in Alloy Wheel Repair Specialists, a leading provider of wheel repair and reconditioning services. Tonka Bay helped the company expand its franchise network and improve operational efficiency, demonstrating their commitment to scaling businesses effectively.

Hennepin Partners

Hennepin Partners is a boutique investment banking and private equity firm located in Minneapolis. They specialize in mergers and acquisitions, capital raising, and strategic advisory services for middle-market businesses. Their sector focus includes healthcare, industrials, and technology, making them a versatile player in Minnesota’s financial ecosystem.

One of their standout achievements includes advising on high-profile M&A transactions in the healthcare industry, helping businesses streamline operations and maximize shareholder value.

Proterra Investment Partners

Proterra Investment Partners, headquartered in Minneapolis, is a private equity firm specializing in sustainable investments in sectors such as agriculture, food, and natural resources. The firm focuses on identifying opportunities that align with global trends like food security and environmental sustainability. Proterra’s investment strategy is rooted in creating long-term value while addressing critical global challenges.

One key investment includes their partnership with Wilmar International, a leading agribusiness company. Proterra provided strategic capital to enhance Wilmar’s supply chain capabilities and expand its market presence.

Carlson Private Capital Partners

Carlson Private Capital Partners, based in Minnetonka, focuses on family-owned and founder-led businesses. As part of the Carlson family of companies, they invest across a wide range of industries, including manufacturing, consumer products, and business services. Their unique approach combines long-term capital with family values, offering businesses a collaborative and supportive partnership.

A notable example of their investment strategy is their partnership with LTI Holdings, a leader in the industrial automation space. Carlson Private Capital Partners played a critical role in helping LTI expand its operational capabilities while maintaining its core values and legacy.

Spell Capital Partners

Spell Capital Partners, based in Minneapolis, is a private equity firm with a focus on buyouts of industrial manufacturing and business services companies. The firm also has a strong foothold in managing mezzanine capital investments. Spell Capital specializes in partnering with businesses that have solid operational foundations and significant growth potential.

A standout investment includes their work with DiversiTech Corporation, a leader in the manufacturing of HVAC components. Spell Capital’s strategic support helped the company expand its market presence and streamline operations.

Northern Pacific Group

Northern Pacific Group, headquartered in Wayzata, Minnesota, is a private equity firm that specializes in investing in technology-driven businesses and service-oriented companies. With a focus on businesses in the Midwest, the firm leverages its operational expertise and industry relationships to drive value creation.

A notable investment includes their partnership with When I Work, a workforce management software company. Northern Pacific Group provided strategic guidance and resources to accelerate growth and enhance product offerings.

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Goldner Hawn

Goldner Hawn, located in Minneapolis, is a private equity firm that focuses on investing in established, middle-market companies across a wide range of industries, including manufacturing, healthcare, and consumer goods. Known for their collaborative approach, Goldner Hawn partners with management teams to drive growth and create long-term value.

A notable investment includes their work with Lindenmeyr Munroe, a national paper and packaging distributor. Goldner Hawn provided the capital and strategic guidance needed to expand operations and enhance supply chain efficiency.

Let’s Recap

Minnesota stands out as a thriving hub for private equity activity. The state’s top private equity firms are driving innovation, supporting businesses, and fostering growth across various industries. Whether it’s healthcare, manufacturing, or technology, these firms are instrumental in shaping the future of Minnesota’s economy.

If you’re an entrepreneur or business owner looking to scale your company, choosing the right private equity partner is essential. Private Equity List simplifies the process, connecting you with investors tailored to your needs.

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Frequently Asked Questions

What is private equity?

Private equity involves investing in companies with the goal of improving operations and generating returns. PE firms invest in both private and public businesses.

How does private equity benefit companies?

Private equity provides companies with capital, strategic guidance, and operational expertise, helping them grow, enter new markets, and improve efficiency.

What types of companies do private equity firms invest in?

Private equity firms invest in a wide range of sectors, including healthcare, technology, manufacturing, and consumer goods, focusing on businesses with strong growth potential.

What is growth equity?

Growth equity is a type of private equity investment where firms invest in companies with proven business models that need additional capital to scale. Growth equity investors usually take minority stakes.

What are the top private equity firms in Minnesota?

The top private equity firms in Minnesota include Norwest Equity Partners, known for its investments in middle-market companies across diverse industries; ShoreView Industries, specializing in family-owned businesses; Stone Arch Capital, focusing on lower middle-market companies; and Carlson Private Capital Partners, emphasizing family-led and founder-run businesses.