Completed Sale of Jacobson Companies
June 18, 2007
Minneapolis, Minnesota – Norwest Equity Partners (“NEP”), a leading equity investor focused on growing and profitable middle market companies, announced today that it has completed the sale of third-party logistics provider Jacobson Companies (“Jacobson”) to Oak Hill Capital Partners, a middle market private equity firm. The transaction closed on June 19, 2007.
NEP initially invested in Jacobson in April 2004. As stated in a previously published statement, NEP and Jacobson management together rolled over a significant portion of their proceeds resulting in a 20% post-closing ownership position in Jacobson for the parties.
Jacobson is a Des Moines, Iowa-based national third-party logistics provider and warehousing company. Jacobson operates within several vertical segments, including warehousing, packaging, freight management, transportation and industrial staffing. With an extensive network across the U.S. offering customized, fully outsourced, total supply chain solutions, Jacobson helps customers reduce supply chain costs to ultimately achieve a greater return on assets.