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Norwest Equity Partners Expands Portfolio with MDC Interior Solutions

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• MDC provides a single source, total solution for commercial interior wallcoverings and finishes
• 50+ years in business, currently led by CEO Gary Rothschild, a fourth generation founding family member
• Long track-record of differentiated, high-end design solutions, with established reputation among customers and suppliers

MINNEAPOLIS & CHICAGO, April 29, 2024-- Norwest Equity Partners (“NEP”), a leading middle market investment platform focused on building industry leaders, has acquired MDC Interior Solutions (“MDC” or “the Company”), a leading commercial interior wallcoverings and design solutions company. The transaction closed on April 26, 2024, and financial terms were not disclosed.

Led by CEO Gary Rothschild and a highly experienced management team, MDC has established a strong reputation as a total solution for commercial interior finishes. MDC’s broad portfolio of products offers innovative design that blends form and function. Serving end markets that include corporate, education, healthcare, hospitality, restaurants, and retail, MDC provides a range of decorative wallcoverings, acoustic solutions, digital imaging, window coverings, and more.

Rothschild stated, “MDC is thrilled to partner with NEP for our next phase of growth, given our shared alignment with Midwest roots and entrepreneurial cultures. For over 50 years, we’ve made thoughtful decisions to build and grow our company to where we are today. We are excited to work with the NEP team and leverage their resources to support our growth plan and to continue expanding our end markets and diversifying our portfolio.”

NEP brings deep industry experience to MDC, as well as a strong track record of growing enduring companies, through similar portfolio company partnerships in textile design, manufacturing, and distribution, including Thibaut, Arteriors, QTI Fibers, Momentum, and Stanton Carpet.

Tony Armand, NEP partner, said, “MDC is an excellent fit with NEP’s strategy and long-term experience in commercial interior solutions. Our team is excited to partner with Gary and the MDC team to continue its next phase of growth. MDC’s expanding portfolio of offerings combined with NEP’s capabilities and functional expertise will support the Company’s continued investment in key growth initiatives as a market leader across several end markets.”

“MDC has an unwavering passion to adapt to the ever-changing needs of commercial interiors,” said Jared Brown, NEP managing director. “The Company’s track record of differentiated, high-style design, a strong salesforce with great customer retention, and long-standing relationships with its suppliers are all key factors in achieving continued growth and sustaining its impressive reputation in the industry.”

Jones Day was legal advisor to NEP, and Antares and BMO provided the debt financing. William Blair advised MDC on the transaction.

About Norwest Equity Partners

Norwest Equity Partners (NEP), a Norwest Capital strategy, seeks to invest in growing and profitable middle-market companies across the business services, consumer services, consumer products and industrials sectors. For over 60 years, NEP has created opportunities, jobs, and value by finding and fueling what’s working in successful companies to help build them into industry leaders. Investing nationally from offices in Minneapolis and West Palm Beach, NEP takes a respectful, collaborative approach that sets it apart from other capital sources.

About MDC Interior Solutions

MDC Interior Solutions (MDC) is a provider of innovative interior design solutions for commercial spaces. With a focus on creativity, quality, and customer satisfaction, MDC Interior Solutions offers a comprehensive range of products and services to meet the diverse needs of its clients. For additional information visit mdcwall.com.

Contact:
Norwest Equity Partners
Jordan Niezelski, Edelman Smithfield
jordan.niezelski@edelmansmithfield.com

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