Norwest Equity Partners (“NEP”), a leading middle-market investment firm, has acquired E-Z UP (“E-Z UP” or “the Company”), the original brand of pop-up canopy tents and portable shade solutions, from Beach Point Capital. Financial terms were not disclosed.

E-Z UP invented the portable pop-up canopy tent in a Southern California garage in 1983 and has spent more than four decades building the category it created. Known as “The Original Instant Shelter,” E-Z UP designs and manufactures a broad range of instant shelters, canopy tents, tables, flags, banners and accessories, performing its highest-value step – customization and fabric finishing – in-house at its 135,000-square-foot Norco, California headquarters, supported by a portfolio of nearly 100 patents. The Company sells across four diversified channels – B2B, Industrial, Outdoor Recreation, and International – serving end markets that span corporate marketing and branded events, worksite weather protection, sporting and athletic events, and recreational use.

Eric Hernandez, E-Z UP CEO, stated, “We are very excited to partner with NEP on our next chapter of growth. We share a clear vision for further investing in our B2B business – both organically and through acquisitions. I’m excited to work with NEP to accelerate that growth as we look to further expand products and capabilities over time.”

E-Z UP’s business model is illustrative of how a successful growth strategy is realized through new products, expanded sales and marketing investment, and further penetration of its nascent channels. NEP brings deep industry experience and a strong track record to E-Z UP through similar portfolio company partnerships in industrial and specialty distribution, including MDC Interior Solutions, Momentum Group and Stanton Carpet. Eric Frueh, NEP principal, added, “This deal is a great example of NEP’s approach at its best – deep business model expertise informing our conviction in E-Z UP, paired with the value creation approach we bring to every portfolio company. We look forward to putting both to work alongside the management team.”

Tony Armand, NEP partner, said, “E-Z UP is the category-defining brand in instant pop-up canopies, with a level of customer loyalty and brand recognition that is rare in a market this fragmented. We were drawn to the durability of the business – its custom printing, asset light manufacturing, and diversified channel mix – and we’re excited to partner with Eric and the team to invest behind that foundation.”

Winston Taylor LLP served as legal advisor to NEP. Kroll Investment Banking advised E-Z UP 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 primarily across the business services, consumer services, consumer products and industrials sectors. For over 65 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. For more information, visit nep.com.

About E-Z UP

E-Z UP is the original inventor of the pop-up canopy tent and a leading brand of portable shade solutions and accessories worldwide. Since creating the category in 1983, E-Z UP has built a reputation for innovation, quality and ease of use, offering instant shelters and accessories for commercial, event and consumer applications. E-Z UP products are manufactured in Norco, California and sold in more than 60 countries. For additional information, visit ezup.com.

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