M&A Deal Summary

Incline Equity Partners Acquires Jon-Don

On January 12, 2021, private equity firm Incline Equity Partners acquired distribution company Jon-Don from Trivest Partners

Acquisition Highlights
  • This is Incline Equity Partners’ 6th transaction in the Distribution sector.
  • This is Incline Equity Partners’ 47th transaction in the United States.
  • This is Incline Equity Partners’ 5th transaction in Illinois.

M&A Deal Summary

Date 2021-01-12
Target Jon-Don
Sector Distribution
Buyer(s) Incline Equity Partners
Sellers(s) Trivest Partners
Deal Type Secondary Buyout

Target

Jon-Don

Roselle, Illinois, United States
Jon-Don is a national value-added distributor of equipment, supplies and training for specialty contractors in the water restoration, carpet cleaning, concrete surface prep and polishing, building service and abatement end markets. Jon-Don has built a reputation in the industry as a trusted supplier to the specialty contractor market for products, job-site recommendations and customer service. The Company offers a comprehensive suite of products across multiple categories that allows for convenient one-stop shopping. Jon-Don was founded in 1978 and is based in Roselle, Illinois.

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Buyer(S) 1

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 48 of 73
Sector (Distribution) 6 of 11
Type (Secondary Buyout) 17 of 23
State (Illinois) 5 of 5
Country (United States) 47 of 71
Year (2021) 2 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-12 BBG

Dallas, Texas, United States

BBG is a provider of commercial real estate appraisals, appraisal management services, environmental and property assessments, and related advisory services. BBG was founded in 1992 and is based in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-21 Continental Battery Systems

Dallas, Texas, United States

Continental Battery Systems is a distributor of aftermarket batteries to the electric utility vehicle (EUV), automotive, commercial, marine, and industrial markets. Continental Batteries operates more than 100 branches throughout North America. Continental Battery Systems was founded in 1932 and based in Dallas, Texas.

Sell -

Seller(S) 1

SELLER

Trivest Partners

Coral Gables, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 4.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION
Trivest's corporate headquarters in Coral Gables, Florida.
Trivest's corporate headquarters in Coral Gables, Florida.

Trivest is a private equity firm that invests in North American middle-market corporate acquisitions, recapitalizations, and growth capital financings. For platform investments, sectors of interest include niche manufacturing, value-added distribution, business services, and consumer products/services. The Firm seeks businesses with at least $4 million of EBITDA and valued between $20 and $250 million. Trivest prefers control-based situations but will also consider minority or co-investment opportunities. For add-on opportunities, Trivest will consider companies globally with valuations starting at $1 million. Trivest Partners was formed in 1981 and is based in Coral Gables, Florida.


DEAL STATS #
Overall 28 of 38
Sector (Distribution) 1 of 1
Type (Secondary Buyout) 12 of 18
State (Illinois) 2 of 2
Country (United States) 25 of 34
Year (2021) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-17 IPM Foods

Janesville, Wisconsin, United States

IPM Foods is a full-service contract food processor and a global leader specializing in Tetra Recart® packaging, producing for large consumer products companies and national branded food retailers. IPM's food division focuses on broths, soups and sauces; and its pet division focuses on the high demand wet pet food market.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-26 Growth Ortho

New York, New York, United States

Growth Ortho has developed a new approach to managed service organizations (MSO) for orthopedic practices. Using its specific knowledge of this area of medicine, Growth Ortho can support surgeon recruiting, deliver technological advancements, improve administrative efficiency, and more.

Buy -