The Minneapolis investment firm Norwest Equity Partners aid it has completed the sale of its ownership stake in Lindstrom Metric LLC of Blaine to a privately owned operating company in Missouri.
Terms were not disclosed.
Norwest Equity formed an investment partnership with Lindstrom in 2006, attracted to its "strong historical organic growth," as well as other attributes, the firm said in a news release Thursday.
Lindstrom Metric, a distributor and importer of metric fasteners, will be sold to Harbour Group of St. Louis.
The deal closed on Tuesday. Lindstrom Metric founder and CEO Virg Lindstrom and the company's management team will continue to own a "significant" portion of the business.
Norwest Equity manages $4.6 billion of capital.
Janet Moore • 612-673-7752
