Sep 05, 2023

Northborne Transaction Announcement | Nationwide Organ Recovery Transport Alliance Receives Investment from Norwest Equity Partners

MINNEAPOLIS, MN – August 31, 2023 – Northborne Partners is pleased to announce that it served as the exclusive financial advisor to Nationwide Organ Recovery Transport Alliance (“NORA”) on its investment from Norwest Equity Partners (“NEP”). Financial terms were not disclosed.

NORA is the leader in transportation and logistics for the organ and tissue transplant industry nationwide, providing air, ground and courier services to organ procurement organizations, transplant centers and perfusion technology providers. Since its founding in 2012, NORA has developed a leading brand reputation for reliability, professionalism and exceeding customer expectations enabled by its differentiated “One Call Solution” for air and ground organ recovery and transplant transportation.

Mark Horvick, Managing Director at Northborne, said, “This is truly a landmark deal in the organ transplant market, which continues to be an area with significant organic growth, consolidation and technological advancement.” Paul Jevnick, Managing Director at Northborne added, “This transaction adds to Northborne’s growing healthcare and logistics advisory franchises and marks the second transaction in organ transplant sector we have advised on in the last two years.”

Cole Bachelder, Co-Founder and President of NORA, commented “Northborne’s expertise representing healthcare and transportation & logistics businesses, and their knowledge of the organ transplant sector in particular, was invaluable as NORA explored strategic options and ultimately identified the right partner in NEP.” Don Jones, Co-Founder and CEO of NORA said, “Our team is looking forward to partnering with NEP. The organ transplant market is evolving quickly. Our partnership with NEP will enable us to continue meeting and exceeding the needs of our customers and to be ever better stewards of the gift of transplantation.”

Cozen O’Connor served as legal counsel to NORA in the transaction.

About Northborne Partners

Northborne Partners is a preeminent middle market investment banking firm focused on providing M&A advisory services to companies in the food & consumer, healthcare, industrials and business services sectors. It specializes in advising privately held business owners on complex sell-side transactions. Northborne Partners is headquartered in Minneapolis, Minnesota, and actively advises clients throughout North America. For more information, please visit

About NORA

Headquartered in St. Charles, Illinois, Nationwide Organ Recovery Transport Alliance is a pioneer and leader in organ and tissue recovery transportation & logistics providing a seamless one call solution for air and ground services to organ procurement organizations, transplant centers, and perfusion technology providers nationwide. To learn more about NORA, please visit

About Norwest Equity Partners

Norwest Equity Partners is a leading middle market investment firm focused on partnering with business owners to build companies into industry leaders. With a reputation for quality investments and exceptional financial returns since 1961, NEP offers creative and flexible transaction solutions and believes in long-term relationships. With offices in Minneapolis and West Palm Beach, Florida, NEP focuses on equity investment opportunities for growing and profitable companies within agriculture, business services, consumer, distribution, diversified industrials, energy, and healthcare. Additional information is available on NEP’s website at

Website includes transactions completed by Northborne professionals at prior firms.

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