Norwest Invests in Bailiwick

Norwest Equity Partners (NEP) has made an investment in Bailiwick, an IT integration services provider. NEP’s investment marks the first time Bailiwick has partnered with an institutional investor.

Bailiwick’s IT integration services include wireless design and implementation; new site opening installations and maintenance; merger and acquisition integrations; hardware asset lifecycle programs; and IPVS/CCTV (internet protocol video surveillance/closed circuit television) implementation. The company serves Fortune 100 and 500 companies within the retail, financial, logistics & manufacturing, and quick-serve and fast casual restaurant industries. Bailiwick, founded in 1995, has approximately 180 employees and is headquartered southwest of Minneapolis in Chaska, MN (www.bailiwick.com).

“Bailiwick’s solid business model, industry-leading management team, and customer centric approach differentiates them amongst their competitors,” said Tom Schauerman, an NEP Partner. “Bailiwick has done a great job to earn an admirable reputation as a highly-valued business services provider, and we look forward to working together with the team to leverage their existing growth momentum to further build and grow the company for the future.”

Bailiwick will use the new capital from NEP to add incremental services, expand its customer base, and pursue add-on acquisitions that expand the company’s geographic reach and products. “We believe we can grow and innovate in more dynamic ways with the right financial partner,” said Bob Marko, Bailiwick President and CEO. “This is the first time in our 22-year history that we are partnering with an investor to help us accomplish this vision, and we could not be more thrilled to be doing so with NEP.”

Norwest Equity Partners makes equity investments of $30 million to $250 million in companies that have more than $10 million in EBITDA. Sectors of interest include agriculture, business services, consumer, distribution, diversified industrials, energy, and healthcare. In April 2015, NEP closed Norwest Equity Partners X, LP, a $1.6 billion fund and Norwest Mezzanine Partners IV, LP, an $800 million fund formed by NEP’s affiliated mezzanine investment firm, Norwest Mezzanine Partners. Norwest Equity Partners is headquartered in Minneapolis (www.nep.com).

Cherry Tree & Associates (www.cherrytree.com) advised Bailiwick on this transaction. BMO Capital Markets (www.bmocm.com) and Ally Corporate Finance served as senior lenders.

© 2017 Private Equity Professional | March 7, 2017