Incline Equity Partners (“Incline”), a Pittsburgh-based private equity firm, is pleased to announce the sale of Continental Batteries (“Continental” or the “Company”), a leading distributor of aftermarket batteries to the automotive, commercial, electric utility vehicle, marine and industrial markets. Incline partnered with the third-generation family owners in December 2017.
Headquartered in Dallas, TX, Continental has a strong value proposition and has grown into one of the industry’s most recognized and reliable distributors of aftermarket batteries across its end markets. Continental has over 100 locations in North America and a distribution network of more than 30,000 dealers.
“Working closely with the management team to transform the Company from a regional distributor to a national provider has been a rewarding experience,” said John Morley, Partner at Incline. “In a very short period, we made 21 acquisitions that drove revenue growth of over 200% and expanded locations from 22 in 7 states to 102 in 25 states plus Canada. The acquisitions significantly strengthened Continental’s value to their global manufacturing partners as well as to their customers.”
“Incline has been an instrumental partner to Continental,” said Eric Royse, President and Chief Executive Officer of Continental. “Incline helped us formulate a strategy and playbook to amplify our approach to making acquisitions. Additionally, they significantly invested in the management team and operations of the business to ensure the infrastructure could support the accelerated pace of growth. We have a strong foundation as we enter our next partnership.”
About Incline Equity Partners:
Incline Equity Partners, headquartered in Pittsburgh, Pennsylvania, is a private equity firm investing in manufacturing, distribution and business services companies. Incline is generally seeking growing companies with enterprise values of $25 – $450 million. Incline’s typical investment types are ownership transitions for privately held businesses, buyouts and corporate divestitures within the U.S. and Canada.
Incline Management, L.P. (“IMLP”) 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. IMLP provides investment advisory services only to privately offered funds. IMLP 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 IMLP client fund or investor and do not describe any experience with or endorsement of IMLP as an investment adviser by any such client or investor.