In November 2021, Norberg-IES, LLC (“Norberg"), a portfolio company of Argonaut Private Equity (“AP”) was acquired by EIS, Inc. (“EIS”), a portfolio company of Audax Private Equity (“Audax").
The Industrials M&A practice of Duff & Phelps, A Kroll Business, served as financial advisor to Norberg and Argonaut Private Equity in connection with the transaction.
"We appreciate the professionalism and finesse and staying on this through the pandemic! It was great working with the Duff & Phelps team, and it was a great outcome!" - Argonaut Private Equity
About Norberg
Founded in 1969 and headquartered in Tulsa, OK, Norberg is a leading provider of fuses, mountings, enclosures and controls. Norberg specializes in the assembly of UL-certified hazardous location controls, circuit protection devices, and custom electrical controls for the domestic industrial and energy markets.
About Argonaut Private Equity
Founded in 2002, Argonaut Private Equity is a Tulsa-based private equity firm with $3 billion of capital deployed in direct investments across key industry sectors, including manufacturing, industrials and energy services. Argonaut partners with companies to develop a strategy for accelerating growth and enhancing operations. In 2018, Argonaut raised Argonaut Private Equity Fund IV to continue its history of generating attractive investment returns through a disciplined approach and aligning interest with those of its investors and business partners. Frederic Dorwart, Lawyers PLLC. served as legal counsel to Norberg and Argonaut.
About EIS
EIS is one of North America’s leading distributors of process materials, production supplies, specialty wire and cable, and value-added fabricated parts supplying the electrical OEM, motor, transformer, generator repair and various assembly markets with over 100,000 critical products from 39 branches and 6 fabrication facilities located in North America.
About Audax Private Equity
Audax Private Equity is a leading middle market private equity firm with offices in Boston and San Francisco. Since its founding in 1999, the firm has raised over $27 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $6 billion in more than 135 platforms and over 950 add-on companies and is currently investing out of its $3.5 billion sixth fund. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. With over 100 private equity professionals, the firm is a leading capital partner for North American middle market companies. Fredrikson & Byron, P.A. served as legal counsel to EIS and Audax.
