Incline Acquires Double E Company, First Platform in New Fund
PITTSBURGH, April 5, 2012 — Incline Equity Partners announced today the acquisition of West Bridgewater, MA-based Double E Company, LLC (“Double E”), a leading designer, manufacturer, and distributor of engineered solutions and components parts used in web process manufacturing.
Founded in 1972, Double E provides a comprehensive product line of web accessory component solutions to more than 7,000 customers in the paper, film, foil, corrugated, packaging, printing and non-woven end markets. The company’s product lines include core chucks, core shafts, safety chucks, core plugs, fiberglass cores, rollers, shafted roll stands, and core cutters.
“Double E is a perfect candidate for investment given its market leading position in a niche industry and long history of success under the current management team,” said Jack Glover, Partner of Incline Equity Partners. “Moreover, the company benefits from an established brand name and large installed base which provides recurring replacement demand for its products.”
Double E is a global company with manufacturing operations in the United States and Italy and sales representation in more than 47 countries. In addition to a portfolio of manufactured products, Double E has successfully secured distribution relationships with leading web converting componentry manufacturers world-wide including, Re Spa, Gavo Meccanica, and Mario Cotta.
“We were particularly attracted to the near-term growth opportunities at Double E resulting from product line expansion, both internally and through add-on acquisitions,” said Leon Rubinov, Principal of Incline Equity Partners. “In addition, a key driver of growth going forward will be the expansion of the company’s highly technical direct sales force in key geographical markets, both domestically and abroad.”
“We are truly excited to have Incline Equity as a partner,” said Mark Fortin, CEO of Double E Company. “Incline’s team shares our strategic vision for the business and their impressive track record of building businesses through strategic acquisitions will be essential as we look to expand into new markets.”
The transaction was led by Glover; Rubinov; Charlie Rossetti, Senior Associate; and David Hamerling, Associate of Incline Equity Partners. Glover and Rubinov will represent the firm on the company’s Board of Directors along with Fortin; and Mark Peretti, COO of Double E Company.
Senior debt for the transaction was provided by Madison Capital Funding.
About Incline Equity Partners
Incline Equity Partners focuses on making private equity investments of $10 million to $25 million in leveraged buyouts, recapitalizations and large minority financings of lower middle market growth companies with enterprise values between $25 million and $100 million across a variety of industry sectors including specialized light manufacturing, value-added distribution, and business and industrial services.
For additional information, please contact Lauren McKibben, Director of Business Development: firstname.lastname@example.org.