Norwest Equity Partners Exits Pure Archery Group with Sale to JDH Capital
July 12, 2022
Minneapolis, MN, and West Palm Beach, FL, July 12, 2022 – Norwest Equity Partners (“NEP”), a leading middle market investment firm founded in 1961, has completed the sale of Pure Archery Group (“Pure Archery” or the “Company”), an industry leading designer and manufacturer of premium archery products, to JDH Capital. The transaction closed on July 1, 2022. Financial terms of the transaction were not disclosed.
Originally founded as Bowtech in 1999, Pure Archery provides accuracy-focused, performance-driven, and durable archery products. The Company’s offering includes compound bow brands, Bowtech and Diamond, as well as the premium crossbow brand, Excalibur. Other brands within Pure Archery include industry-leading accessories from Black Gold, Tight Spot, Ripcord, and Octane.
Rob Kass, Pure Archery CEO, stated, “Pure Archery has enjoyed a great partnership with NEP. While their level of commitment and business acumen are unparalleled, we particularly enjoyed the level of candor and open dialogue around any topic. NEP took time to understand challenges we were facing and worked with us to help solve them. With NEP’s unwavering support, combined with their desire to always do the right thing, we built a much stronger business and a terrific company culture.”
Tony Armand, NEP Partner, shared, “We are grateful for our opportunity to have worked alongside the Pure Archery team as the Company evolved to better serve archery enthusiasts. We wish Pure Archery continued success with JDH Capital.”
Cowen served as the exclusive financial advisor to Pure Archery; Ballard Spahr served as legal advisor. Learn more about Pure Archery at purearcherygroup.com.
About Norwest Equity Partners (NEP)
Founded in 1961, NEP is a leading middle market investment firm with offices in Minneapolis, MN, and West Palm Beach, FL. NEP invests equity capital in companies that are leaders in their industry with a proven business model which have demonstrated the ability to generate profits. NEP has extensive experience with management buyouts, recapitalizations, and growth financings, including working with founder and family-owned companies. Targeted equity investment size range for each transaction is $30 MM-$250+ MM and desired industries for investment opportunities include agriculture, business services, consumer, distribution, industrials, energy, and healthcare. NEP is currently investing NEP X, a $1.6 B fund. Visit nep.com for more information.