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Norwest Equity Partners Invests in Recteq
Norwest Equity Partners, a middle market investment firm, has made a significant investment in
recteq, a designer, marketer, and direct seller of premium pellet grills, accessories, and other consumable products.
Sundip Murthy, NEP partner, stated, “recteq is another great addition to our consumer products portfolio. The NEP team has tremendous ability to work with high-growth, founder-owned businesses and we are excited about our partnership with Ron, Ray and the rest of their management team. They’ve built an outstanding lifestyle brand with a culture of innovation that is well positioned for continued growth.”
“The precise delivery of temperature and control provided by recteq grills offers an unparalleled grilling experience. As pellet grills continue to take a greater share of the grill market, recteq has multiple areas to grow and win with further product, channel, and geographic extensions. The Company’s suite of prod
Press release content from Business Wire. The AP news staff was not involved in its creation.
Leading Pellet Grill Company, recteq, Expands Consumer Products Portfolio at Norwest Equity Partners
February 1, 2021 GMT
MINNEAPOLIS & WEST PALM BEACH, Fla. (BUSINESS WIRE) Feb 1, 2021
Norwest Equity Partners (“NEP”), a leading middle market investment firm founded in 1961, has made a significant investment in recteq (or the “Company”), a designer, marketer, and direct seller of premium pellet grills, accessories, and other consumable products. The transaction closed on January 29, 2021; financial terms of the transaction were not disclosed.
Co-founded in 2009 by Ron Cundy and Ray Carnes, recteq prides itself on creating superior products and providing best-in-class customer experience. Continued technology-driven product innovation, a direct-to-consumer (D2C) distribution model, long-standing supplier relationships, and top-notch customer service, collectively position rec