M&A Deal Summary

Incline Equity Partners and Audax Private Debt Acquire GME

On July 18, 2023, private equity firm Incline Equity Partners and mezzanine finance firm Audax Private Debt acquired distribution company GME from Platte River Equity

Acquisition Highlights
  • This is Incline Equity Partners’ 11th and Audax Private Debt’s 4th transaction in the Distribution sector.
  • This is Incline Equity Partners’ 68th and Audax Private Debt’s 65th transaction in the United States.
  • This is Incline Equity Partners’ 2nd and Audax Private Debt’s 2nd transaction in Missouri.

M&A Deal Summary
Date 2023-07-18
Target GME
Sector Distribution
Buyer(s) Incline Equity Partners
Audax Private Debt
Sellers(s) Platte River Equity
Deal Type Secondary Buyout

Target

GME

Columbia, Missouri, United States
GME is an omnichannel distributor of fall protection, safety, and productivity equipment. The company supplies a comprehensive selection of fall protection, rigging materials, workwear, and PPE to technicians and contractors working in the telecom, utility, aerial construction, renewable energy, and other industrial markets. It provides expedited delivery of products that are critical to worker safety while catering to unique customer needs with value-added services like curated kitting and certified training courses. GME Supply was founded in 2005 and is based in Columbia, Missouri.

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Buyer(S) 2

Buyer

Incline Equity Partners

Pittsburgh, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1982
PE ASSETS 5.8B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

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.

DEAL STATS #
Overall 70 of 73
Sector (Distribution) 11 of 11
Type (Secondary Buyout) 22 of 23
State (Missouri) 2 of 2
Country (United States) 68 of 71
Year (2023) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-11 Aldinger

Dallas, Texas, United States

Aldinger is a provider of calibration and repair services to customers’ mission-critical test & measurement equipment and instrumentation. Aldinger was founded in 1972 and is based in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-25 Cosmetic Skin & Laser Center

Petoskey, Michigan, United States

Cosmetic Skin & Laser Center is a multi-location aesthetic medical practice, providing aesthetic procedures such as cosmetic injectables, skin rejuvenation & tightening and body contouring & liposuction, to patients in Northern Michigan and Southwest Florida. Cosmetic Skin & Laser Center was founded in 2001 and is based in Petoskey, Michigan.

Buy -
Buyer

Audax Private Debt

New York, New York, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 5.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Mezzanine is the mezzanine finance arm of the Audax Group. The Firm focuses on investing in both private and public, US-based middle market companies with a strong history of cash flows and consistent revenue growth. Audax will consider subordinated mezzanine debt commitments, second lien or junior secured debt, preferred stock and common stock. The Firm seeks to invest in companies valued between $10 and $60 million. Types of transaction include MBOs, LBOs, growth capital financings, acquisition financings, and recapitalizations.

DEAL STATS #
Overall 67 of 67
Sector (Distribution) 4 of 4
Type (Secondary Buyout) 29 of 29
State (Missouri) 2 of 2
Country (United States) 65 of 65
Year (2023) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-31 Engine & Transmission Exchange

Waukesha, Wisconsin, United States

Engine & Transmission Exchange is an independent aftermarket transmission remanufacturer focusing on non-discretionary automotive repair and replacements. Engine & Transmission Exchange was founded in 1985 and is based in Waukesha, Wisconsin.

Buy -

Seller(S) 1

SELLER

Platte River Equity

Denver, Colorado, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2006
PE ASSETS 1.6B USD
Size Large
Type Sector Focused
DESCRIPTION

Platte River Equity is a private equity firm focused on investing in small and middle-market private companies based in the US. Platte River generally invests $25 to $100 million of equity capital per transaction and looks for businesses that can benefit from the Firm's operating expertise. Sectors of interest include aerospace manufacturing and services, metals, chemicals, energy and energy services, natural resources, financial services, and communications. Platte River typically targets control investment situations, but will opportunistically pursue minority investments. Platte River Equity was formed in 2006 and is based in Denver, Colorado.

DEAL STATS #
Overall 18 of 18
Sector (Distribution) 1 of 1
Type (Secondary Buyout) 7 of 7
State (Missouri) 1 of 1
Country (United States) 17 of 17
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-02 Womack Machine Supply

Dallas, Texas, United States

Womack Machine Supply is a distributor of hydraulic, pneumatic, and electronic components and systems for motion control applications. Womack Machine Supply was founded in 1953 and is based in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-05 TIPCO Technologies

Owings Mills, Maryland, United States

TIPCO is a value-added distributor of fluid conveyance and sealing solutions, operating from 30 strategic locations across the United States. The Company serves a variety of end markets including infrastructure, manufacturing, transportation, government, agriculture/forestry, and energy. TIPCO Technologies was founded in 1888 and is based in Owings Mills, Maryland.

Buy -
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