Northstar Capital Invests in Standard Locknut, LLC

MINNEAPOLIS, November 30, 2022--(BUSINESS WIRE)--Northstar Capital ("Northstar"), a provider of junior capital for middle market private equity transactions, is pleased to announce its investment in Standard Locknut, LLC ("SLN"), a portfolio company of Tonka Bay Equity Partners ("Tonka Bay").

Headquartered in Indianapolis, IN, SLN is a market leading domestic manufacturer of specialized bearing components, including locknuts, adapter sleeves, and pillow blocks. SLN’s high-quality parts, engineering ability, and high-touch customer service have created long-lasting customer relationships across a range of end markets, including recycling, aggregates/materials, transportation, mining, machinery, energy, pulp/paper, and material handling. For more information, please visit www.standard-miether.com.

Northstar provided debt and an equity co-investment to help Tonka Bay finance the transaction. The Northstar team remains committed to partnering with experienced management teams and private equity sponsors to help good companies become even better. SLN is the twenty-fourth platform investment in Fund VII, a $500 million committed parallel fund strategy consisting of Northstar Mezzanine Partners VII L.P. and Northstar Mezzanine Partners SBIC L.P.

About Northstar Capital

Northstar Capital is an investment management company with offices in Minneapolis, Minnesota and Fargo, North Dakota. Northstar specializes in junior capital investments and equity co-investments in middle-market companies. Since inception, Northstar has partnered with more than 160 companies and raised nearly $2 billion in capital. Northstar invests in a diverse range of industries, including healthcare, industrials, consumer, business services, food and agriculture, outsourcing, and distribution. For more information, please visit www.northstarcapital.com.

About Tonka Bay Equity Partners

Based in Minnetonka, Minnesota, Tonka Bay Equity Partners is a private investment firm that acquires and invests in growth-oriented businesses in the highly engineered manufacturing, business services and value-added distribution sectors. For more information, please visit tonkabayequity.com.

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Contacts

Dan Kleineman
Partner
Northstar Capital
612-371-5716
dkleineman@northstarcapital.com

Ethan Eid
Principal
Northstar Capital
612-371-5712
eeid@northstarcapital.com

John Kennefick
Principal
Northstar Capital
612-371-5707
jkennefick@northstarcapital.com