News

For Immediate Release
April 5, 2004

Norwest Equity Partners Promotes Steven M. Farsht to Partner and Timothy R. Kuehl to Principal


Minneapolis, Minnesota - Norwest Equity Partners (NEP), a premier private equity investment firm, is pleased to announce the promotions of Steven M. Farsht to partner and Timothy R. Kuehl to principal.

Steven Farsht joined NEP in 1997 and is responsible for sourcing, structuring, financing and managing individual transactions to obtain optimal results. He is also instrumental in supporting portfolio company management in key activities such as merger integration, compensation restructuring and working capital management. Farsht currently serves on the boards at Aurafin, LLC; Command Tooling Systems, LLC; Highland Manufacturing Company; and Longwood Industries, Inc.

Prior to joining NEP, Farsht spent four years at Arthur Andersen where he developed a strong foundation in mergers and acquisitions, auditing and operational consulting.

Farsht holds a BA degree in business administration from the University of Wisconsin at Madison and earned his masters of business administration from the Kellogg School of Management, Northwestern University.

Timothy Kuehl joined NEP in 1998 and focuses on management buyouts, recapitalizations and industry consolidations within the manufacturing, distribution and business services sectors. Kuehl is responsible for sourcing acquisition opportunities, evaluating potential investments, coordinating due diligence and supporting the structuring, negotiating and closing of the firm's buyout activities. In addition, he works closely with portfolio-company management teams to identify and source add-on acquisitions. Kuehl currently serves as a board member of Attachment Technologies and Norwesco, Inc.

Prior to joining NEP, Tim was with an investment bank specializing in merger and acquisition advice to the middle market. In addition, Tim worked for Investment Advisors, Inc., an asset management firm owned by Lloyds TSB Group of London, England, and played professional hockey in Sweden.

Kuehl holds a BBA degree from the University of Notre Dame and earned his masters of business administration from The Wharton School, University of Pennsylvania.

Norwest Equity Partners (NEP) provides middle market companies with the capital they need to reach their goals. The firm focuses on providing equity investments of $20-$80 million in growing and profitable companies through management buyouts, recapitalizations, and growth financings. NEP takes pride in its flexible investment charter, extensive resources, carefully tailored transactions and meaningful partnerships. Since its founding in 1961, NEP has earned a reputation as one of the premier private equity investment firms in the United States. NEP has in excess of $3 billion in capital under management and is currently investing NEP VIII, an $800 million fund. Visit www.nep.com for more information on our portfolio and investment team.

For more information about NEP or this release, please contact:
Heather Goodwin, Marketing Director
612.215.1676