Incline Equity Partners Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Incline Equity Partners has acquired 19 companies. It has also invested in 8 others.

Incline Equity Partners’ most common sectors for investment aredistribution (16%) and business services (13%) . The Firm’s most common investment types include secondary buyout (32%) and buyout (lbo, mbo, mbi) (28%). In total, Incline Equity Partners has invested in 20 US states and 2 different countries. Its largest (disclosed) acquisition occurred in 2016 when it acquired Midwest Industrial Rubber for $71M.

In the last 3 years, Incline Equity Partners has exited 10 companies. The Firm’s most common exit type is secondary buyout (62%). Incline Equity Partners’ largest (disclosed) exit occurred in 2006 when it sold Advanced Disposal Services for $470M.

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M&A Summary

  • M&A Total Activity112
    • M&A Buy Activity73
    • M&A Sell Activity39
  • Total Sectors Invested 27
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 19
  • M&A Advisors 6

Incline Equity Partners

Incline Equity Partners

625 Liberty Avenue, Suite 2300,
Pittsburgh, Pennsylvania 15222
United States
(412) 315-7800
www.inclineequity.com
info@inclineequity.com

Incline Equity Partners is a private equity firm focused on lower middle-market growth companies. The Firm targets companies located in the US and Canada with enterprise values ranging from $25 to $750 million. Prospective transaction types include buyouts, minority recapitalizations, and corporate divestitures. Incline Equity Partners was formerly known as PNC Equity Partners. The Firm is based in Pittsburgh.


Investment Criteria

Sectors of Interest: Apparel/Textiles, Automotive, Beverages, Building Materials, Business Services, Chemicals, Communications, Consumer Products, Consumer Services, Distribution, E-Commerce, Energy Services and Equipment, Environmental, Financial Services, Healthcare Services, Information Technology, Machinery, Manufacturing, Marketing, Medical Products, Oil/Gas Exploration, Packaging, Plastics, Renewable Energy, Test/Measurement Equipment, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Growth Capital, Recapitalization

Geographic Preferences: East US, Midwest US, South US, West US, Canada

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size - -
Enterprise Value 25 750
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (6.0/yr) # 43 3 10 10 6 1 73
vol $87M $87M
Sell (2.2/yr) # 28 1 8 - 1 1 39
vol $804M $804M
  112

Most Recent M&A

Company Date Value Type
ASP Global 2024-08-06 - Secondary Sale
Austell, Georgia · www.aspglobal.com
VMG Health 2024-04-18 - Secondary Buyout
Dallas, Texas · www.vmghealth.com
White Label Communications LLC 2023-10-24 - Buyout (LBO, MBO, MBI)
McMurray, Pennsylvania · www.whitelabelcomm.com
Foundation Source Philanthropic Services, Inc. 2023-09-13 - Secondary Sale
Fairfield, Connecticut · www.foundationsource.com
Cosmetic Skin & Laser Center 2023-07-25 - Buyout (LBO, MBO, MBI)
Petoskey, Michigan · www.cslcbeauty.com
GME Supply Co. 2023-07-18 - Secondary Buyout
Columbia, Missouri · www.gmesupply.com
Aldinger Co. 2023-07-11 - Growth Capital
Dallas, Texas · www.aldingerco.com
Smile Source L.P. 2023-04-04 - Growth Capital
Kingwood, Texas · www.smilesource.com
Barefoot Mosquito & Pest Control 2023-02-02 - Buyout (LBO, MBO, MBI)
Houston, Texas · www.barefootmosquito.com
Icreon 2022-11-03 - Growth Capital
New York, New York · www.icreon.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Distribution 6 (19%) - 11 (15%) -
Business Services 4 (13%) - 9 (12%) -
Consumer Services 5 (16%) - 7 (10%) -
Environmental 2 (6%) - 5 (7%) -
Manufacturing - - 5 (7%) -
Healthcare Services 3 (9%) - 4 (5%) -
Machinery - - 3 (4%) 71M (82%)
Transportation 1 (3%) - 3 (4%) 16M (18%)
Consumer Products 1 (3%) - 3 (4%) -
Test/Measurement Equipment 2 (6%) - 3 (4%) -
Apparel/Textiles - - 2 (3%) -
Building Materials 1 (3%) - 2 (3%) -
Information Technology 2 (6%) - 2 (3%) -
Automotive 1 (3%) - 1 (1%) -
Communications 1 (3%) - 1 (1%) -
E-Commerce 1 (3%) - 1 (1%) -
Electrical Equipment - - 1 (1%) -
Electronics - - 1 (1%) -
Energy Services and Equipment - - 1 (1%) -
Financial Services - - 1 (1%) -
Food - - 1 (1%) -
Franchising - - 1 (1%) -
Marketing 1 (3%) - 1 (1%) -
Medical Products - - 1 (1%) -
Packaging - - 1 (1%) -
Real Estate 1 (3%) - 1 (1%) -
Software - - 1 (1%) -
Total 32 - 73 $87M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 31 (97%) - 71 (97%) 87M (100%)
  Texas 8 (25%) - 10 (14%) 16M (18%)
  Pennsylvania 3 (9%) - 9 (12%) -
  Ohio 2 (6%) - 6 (8%) -
  California 4 (13%) - 5 (7%) -
  Illinois 2 (6%) - 5 (7%) -
  New Jersey 1 (3%) - 5 (7%) -
  New York 2 (6%) - 4 (5%) -
  Virginia 1 (3%) - 4 (5%) -
  Georgia 1 (3%) - 3 (4%) -
  Florida 1 (3%) - 3 (4%) -
  North Carolina 1 (3%) - 3 (4%) -
  Massachusetts - - 3 (4%) -
  Michigan 2 (6%) - 2 (3%) -
  Missouri 1 (3%) - 2 (3%) 71M (82%)
  Wisconsin - - 2 (3%) -
  Louisiana 1 (3%) - 1 (1%) -
  Iowa 1 (3%) - 1 (1%) -
  Connecticut - - 1 (1%) -
  Colorado - - 1 (1%) -
  South Carolina - - 1 (1%) -
Canada 1 (3%) - 2 (3%) -
  Prince Edward Island 1 (3%) - 1 (1%) -
  Ontario - - 1 (1%) -
Domestic 31 (97%) - 71 (97%) 87M (100%)
Cross-border 1 (3%) - 2 (3%) -
Total 32 - 73 $87M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 11 (34%) - 23 (32%) 16M (18%)
Buyout (LBO, MBO, MBI) 10 (31%) - 20 (27%) 71M (82%)
Growth Capital 10 (31%) - 12 (16%) -
Recapitalization - - 9 (12%) -
Divestiture - - 7 (10%) -
Consolidation 1 (3%) - 1 (1%) -
Venture - - 1 (1%) -
Total 32 - 73 $87M

Exits by Deal Type

Type Total # Value
Secondary Sale 25 (64%) 470M (58%)
Trade Sale - Public Company 6 (15%) 334M (42%)
Trade Sale 6 (15%) -
Recapitalization 2 (5%) -
Total 39 $804M

Top M&A Advisors

Financial Deals
Robert W. Baird & Co., Inc.
1
Harris Williams & Co.
1
C.W. Downer & Co.
1
Legal Deals
Dentons Cohen & Grigsby
1
Dentons
1

Deal Values

buy # Total
< $100M 2 $87M
TOTAL $87M
Largest Midwest Industrial Rubber, Inc.
$71M (2016-12-08)
sell # Total
$100M to $1B 3 $760M
< $100M 1 $44M
TOTAL $804M
Largest Advanced Disposal Services, Inc.
$470M (2006-07-19)

M&A Connections

Deals
Acquired from
Investor(s)
33%
24 (33%)
Strategic(s)
4%
3 (4%)
Exited to
Investor(s)
69%
27 (69%)
Strategic(s)
28%
11 (28%)

FAQ

When was Incline Equity Partners founded?

Incline Equity Partners was founded in 1982.

What type of investor is Incline Equity Partners?

Incline Equity Partners is a private equity firm.

Where is Incline Equity Partners headquartered?

Incline Equity Partners is headquartered in Pittsburgh, Pennsylvania.

How much capital does Incline Equity Partners have under management?

Incline Equity Partners has 5.8B USD under management.

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