Norwest Equity Partners Aligns With Becker Underwood
Becker Underwood of Ames, Iowa, a biotech specialty company for agriculture, seed, landscaping and turf announced its affiliation with Norwest Equity Partners (NEP). NEP is a private equity firm located in Minneapolis, Minn. This affiliation is a strategic partnership based on long-term Becker Underwood growth plans.
The partnership will advance Becker Underwood’s objectives of continued internal growth, further acquisition, research, product development and global market expansion. Becker Underwood has increased in size and scope for 22 consecutive years to become one of the largest non-pesticide specialty chemical companies in agricultural and related markets.
The transaction will be seamless to customers, employees and suppliers, as Norwest Equity will not be involved in management nor in day-to-day operations, according to Underwood. Roger Underwood, Chairman and CEO; Peter Innes, President; Jeff Becker, Operations, and Bill Fuller, CFO will continue in their executive positions. Employees will see no changes in their jobs, all of which will remain in place. Company headquarters will remain in Ames, Iowa.
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