NewsApril 23, 2012
Norwest Equity Partners Adds David Ropp as Newest Operating Partner
Ropp’s 40 Years of Diversified Domestic and International Experience Will Help Augment Firm’s Strategy
Minneapolis, Minnesota – Norwest Equity Partners (“NEP”), a leading middle market investment firm with nearly $5 billion in capital under management, has hired David Ropp to join its team as an operating partner. With more than 40 years of domestic and international experience leading operations of complex manufacturing and service providers, Ropp will focus on investment opportunities for NEP within the diversified industrials sector. He will help evaluate and execute new investment opportunities, as well as play an active role in strategic planning, business growth and corporate governance for NEP portfolio companies.
“Dave’s vast experience with overall company operations, financial management, and strategic business planning nicely complements our diversified industrials investment strategy. As an operating partner, he serves as a valuable industry resource to both our investment staff and group of portfolio companies. We are excited to have Dave officially on board and look forward to working together to find strong companies that will help NEP drive strong investment results,” stated Tim DeVries, NEP Managing General Partner.
Ropp’s career experience includes President and CEO positions at Dover Corporation, specifically at Dover Resources, a subsidiary of Dover Corporation, and at Dover Industrial Products. During his tenure at both businesses, Ropp helped to drive significant growth and global corporate expansion, improve gross margins and increase shareholder value.
Specifically while at Dover Resources, he implemented strategic initiatives to grow profitability, resulting in an increase in total revenue from $800 million to $2.3 billion, and an increase in earnings from $115 million to $400 million. Prior to his posts at Dover, Ropp held several leadership roles at other prominent diversified manufacturing companies, including OPW Fueling Components (an operating company within Dover Resources), Crosby Valve and Ingersoll-Rand.
Ropp stated, “I’ve known the NEP team for years and am excited to formalize our relationship with my role as an operating partner. The firm has established a terrific 50-year track record, and I am honored to have the opportunity to be a part of its investment process in this capacity. I am also confident that our combined resources can be leveraged to find growing and profitable diversified industrial companies to add to the NEP portfolio. There are a lot of great opportunities in the market.”
Ropp earned his MBA from Xavier University, his BS in mechanical engineering with honors from General Motors Institute, and he served in the United States Marine Corps as a Commissioned Officer.
Norwest Equity Partners (NEP) is a leading middle market investment focused on partnering with business owners and building companies into industry leaders. With a reputation for quality investments and exceptional financial returns since 1961, NEP manages nearly $5 billion of capital through a series of equity and mezzanine funds. Offering creative and flexible transaction solutions through management buyouts, recapitalizations and growth financings, NEP seeks $30-$150 million equity investment opportunities for growing and profitable companies within the agriculture, applied technology, business services, consumer products and services, distribution, healthcare and industrial industry sectors. NEP is headquartered in Minneapolis, Minnesota; please visit nep.com for more information.