Incline Equity Partners (“Incline”), a private equity firm focused on making investments in lower middle-market growth companies, announces the sale of Double E Company (“Double E” or the “Company”), a leading designer, manufacturer and marketer of highly-engineered components for web converting applications. Financial terms of the transaction were not disclosed.
Double E’s products secure, straighten, apply tension, cut and move rolled raw materials through continuous manufacturing processes as polyesters, adhesives, silicone, tapes, plastics and rubber are converted into industrial and consumer goods. Double E services a global customer base through its three manufacturing facilities located in the U.S. and Italy, as well as dedicated sales offices in Colombia, the Czech Republic, France, Germany, Italy, Mexico and the United Kingdom.
In partnership with Incline, Double E acquired Epoch Industries in November 2015 and Appleton Mfg. Division in September 2016. The accretive transactions allowed the Company to leverage the skills and expertise of the acquired organizations and strengthen the overall product and service offerings.
“These acquisitions were significant events for Double E,” said Leon Rubinov, Partner with Incline. “They nearly doubled the size of the business, and the expanded product offering allowed the Company to capture incremental share of wallet with existing customers as well as win new ones. As there were many potential candidates to pursue, we worked closely with the management team to help prioritize which best fit with Double E’s growth strategy.”
“Incline’s first step of strategy development had us lay out our vision for what we wanted the business to look like in the future,” said Tom Pranka, Double E’s CEO. “From there, we developed the strategic initiatives required to achieve that vision. Seeing the larger business allowed us to identify and proactively address gaps in the organization, product line and sales capabilities that we would encounter along the way.”
“Double E is a much larger, more sophisticated enterprise today than when we bought it,” said Jack Glover, Partner with Incline. “We are proud of what we accomplished together with the management team and we wish them great success in the future.”
About Incline Equity Partners:
Incline Equity Partners, headquartered in Pittsburgh, Pennsylvania, is a private equity firm focused on making investments in lower middle-market growth companies, focusing on companies with enterprise values of $50MM to $200MM across a variety of industry sectors including value-added distribution, specialized light manufacturing and business services. Typical investment types are management buyouts, ownership transitions for privately held businesses and corporate divestitures. Incline Equity Partners has experience with investing, mergers and acquisitions, leveraged finance, leveraged buyouts and growth capital.
Disclaimer:
Incline Management Corporation (“IMC”) is registered with the U.S. Securities and Exchange Commission as an investment adviser under the U.S. Investment Advisers Act of 1940, as amended. Registration as an investment adviser does not imply a certain level of skill or training. IMC provides investment advisory services only to privately offered funds. IMC does not solicit or make its services available to the public or other advisory clients. This press release is intended solely to provide information regarding Incline’s potential capabilities for prospective portfolio companies, and is not an offer to sell to any person, or a solicitation from any person of an offer to buy, any securities. The statements contained herein are not statements of any IMC client fund or investor and do not describe any experience with or endorsement of IMC as an investment adviser by any such client or investor.
