Cherry Tree Advises Bailiwick on its Significant Investment from Norwest Equity Partners

Bailiwick announces partnership agreement with Norwest Equity Partners

Chaska, MN – (March 6, 2017) – Bailiwick (or the “Company”), a leading IT services provider, announces it has entered into a partnership agreement with Norwest Equity Partners (“NEP”), a Minneapolis-based equity investment firm that focuses on helping to build companies into stronger industry leaders. Bailiwick’s affiliation with NEP will be structured as a strategic partnership focused on achieving long-term growth plans for the business. The management team and current owners of Bailiwick will roll forward under the new partnership and continue to operate the business as they have for 22 years.

Founded in 1995, Bailiwick provides best-in-class design and deployment of IT solutions for Fortune 100 and 500 companies customized to their unique needs. As a partner to leading corporations, Bailiwick professionally manages technology integration of complex, large-scale IT initiatives. The Company’s solutions include wireless design and implementation, new site opening installations and on-going maintenance, merger and acquisition integrations, hardware asset lifecycle programs, IPVS/CCTV implementation and maintenance and fast-moving technology deployments. Bailiwick’s professional services include engineering, configuration, project management, maintenance, and asset lifecycle management, and its installation services include cabling, electrical, and all platforms of equipment from POS to kitchen systems. The Company is proud to serve customers within the retail, financial, logistics & manufacturing, and quick-serve and fast casual restaurant industries.

Bob Marko, Bailiwick President and CEO, stated, “Bailiwick concluded 2016 with record revenues and earnings, continuing our strong growth performance averaging 20.5% over the past three years. We believe we can grow and innovate in more dynamic ways with the right financial partner. This is the first time in our 22-year history that we are partnering with an investor to help us accomplish this vision and we could not be more thrilled to be doing so with NEP. Our partnership agreement is a direct reflection of the strength of our team and the business we have built, and we are excited to further accelerate our ideas for servicing customers with NEP by our side. “

NEP and Bailiwick complement each other well as each share Midwest roots and longevity in Minnesota. The business operating philosophies are synergistic and Bailiwick is excited to leverage NEP’s experience in business services, operating partner resources, as well as working in partnership with management-owned businesses. NEP has a proud history of selecting only the best organizations in the marketplace and helping them achieve significant growth and industry leading positions.

Tom Schauerman, NEP Partner, stated, “Bailiwick’s solid business model, industry-leading management team, and customer centric approach differentiates them amongst their competitors. Bailiwick has done a great job to earn an admirable reputation as a highly-valued business services provider, and we look forward to working together with the team to leverage their existing growth momentum to further build and grow the Company for the future.”

NEP’s capital is a significant milestone that will help Bailiwick add incremental service offerings, expand its customer base, and enable the Company to consider add-on acquisitions to broaden both geographic reach and offerings. Led by a strong and cohesive management team, Bailiwick has built its reputation from a foundation of a high quality, customer centric operational excellence and maintaining a strong company culture defined by trust, innovation, consistency, and knowledge.

It takes a great team to reach partnerships that are successful. Bailiwick would like to thank their team; Cherry Tree & Associates who advised Bailiwick on the transaction; Jeff Fenske of Fenske Law Office, PC and Bill O’Brien of DeWitt Mackall Crounse & Moore who provided legal co-counsel to Bailiwick and its management team; Larry Mohr of Baker Tilly provided tax and accounting advisory; Lindquist & Vennum provided legal services for NEP; BMO Capital Markets and Ally Corporate Finance served as senior lenders.

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