Norwest Equity Partners (NEP) has announced it has completed an investment in QTI Fibers.
QTI, based in Colfax, N.C., is a designer and manufacturer of technical fibers, fabrics and coatings for healthcare and other applications. Founded in 1922, QTI is comprised of three brands: Twitchell Technical Products, Quantum Materials and Infinity Woven Products.
Norwest, with offices in Minneapolis and West Palm Beach, Fla., is a middle market investment firm. Founded in 1961, Norwest seeks to invest $30 million to $250 million in companies with more than $10 million in EBITDA within healthcare and several other industries.
Terms of the investment were not disclosed.
Prior to NEP’s investment, QTI was a portfolio company of Highlander Partners.