Headwaters MB advised Nwestco LLC (“Nwestco” or the “Company”), a leading equipment distributor, installer and maintenance provider to fuel stations and carwashes in the Pacific Northwest and Rocky Mountain regions, on its growth capital investment by WestView Capital Partners (“WestView”). Terms of the transaction were not disclosed.
Founded in 1987, Nwestco is the leading distributor, installer, and service provider for key premium brands in the petroleum, c-store, and car wash equipment industries across the Mountain West and Pacific Northwest. Nwestco offers a comprehensive portfolio of over 2,000 products through relationships with over 200 equipment manufacturers and delivers installation and ongoing maintenance services with a base of nearly 80 skilled technicians. The Company’s brand relationships include Gilbarco Veeder-Root, VeriFone, Franklin Fueling Systems, OPW, Xerxes, Turtle Wax, and more. In addition, Nwestco manufactures and distributes a proprietary line of underground storage tanks via its Wilray Manufacturing subsidiary. Nwestco is headquartered in Kalispell, Montana, with branches in Idaho, Washington, and Oregon.
Tim Gibbar, CEO of Nwestco, commented, “We are excited to join the WestView team and look forward to working closely with their team to expand Nwestco’s business. The Headwaters team were great partners throughout the transaction and were instrumental in finding the ideal partners to support our continued growth..”
Petroleum, c-store, and car wash equipment supply and service is a highly competitive industry requiring broad technical capabilities, customer and supplier relationships, and a commitment to customer service. Nwesto’s dominant position in the Mountain West and Pacific Northwest, combined with the capital strength of WestView, provides an ideal platform for regional consolidation and footprint expansion.
"I started my career 30 years ago as a District Engineer at Shell Canada, where I oversaw all maintenance and construction activities for over 220 gas stations and car washes. With that experience, I learned firsthand the importance of having a reliable, high-quality fuel and car wash equipment and service partner – particularly in hard-to-reach territories. Nwestco is one such partner and is well-positioned to continue its growth trajectory under Tim Gibbar, a true leader in the industry,” said Carlo von Schroeter, a Managing Partner at WestView, who will join the Board of Directors at Nwestco.
Ted Kinsman, Managing Director at Headwaters MB, commented, “The c-store and car wash sector is undergoing tremendous growth and consolidation. It was a privilege to work with one of the industry leading firms in Nwestco, and we are pleased to have facilitated an ideal match between Nwestco and WestView. We believe both parties will realize substantial value from this transaction as the company continues its growth trajectory.”
Nwestco is a leading equipment distributor, installer and maintenance provider to retail fuel stations and car washes in the Pacific Northwest and Rocky Mountain regions. The Company provides a one-stop solution for its customers’ equipment and service needs, offering a comprehensive product portfolio and delivering high quality installation and ongoing maintenance services. Nwestco is based in Denver, Colorado and operates five additional branches across Montana, Washington, Oregon and Idaho. Additional information can be found by visiting www.nwestco.com.
About WestView Capital Partners:
WestView Capital Partners, a Boston-based private equity firm focused exclusively on middle market growth companies, manages approximately $1 billion in capital across three funds. WestView partners with existing management teams to sponsor minority and majority recapitalizations, growth, and consolidation transactions in industries such as growth industrial, healthcare technology and outsourcing, business services, software and IT services, and consumer. For more information, please visit www.wvcapital.com.