Incline Equity Partners (“Incline”), a Pittsburgh-based lower middle-market private equity firm, proudly announces an investment in Ned Stevens (“Ned” or the “Company”), a leading provider of gutter and outdoor cleaning services. Financial terms of the deal were not disclosed.
Founded in 1965 and headquartered in Fairfield, NJ, Ned provides year-round, full-service residential gutter cleaning, soft wash, and related residential services, including gutter maintenance, installation, and repair. The Company serves approximately 63,000 customers annually in 13 states from nine office locations.
“The Ned team has built a fantastic, financially strong company that has experienced significant growth over the past few years,” said Jack Glover, Partner with Incline. “They are a market-leading provider of a non-discretionary service, providing financial stability through economic cycles. There are multiple avenues for future growth, and we are excited to be their chosen partner.”
Rob Rapuano, CEO, said, “Bringing another owner to the table was a big decision for our team and for the overall business. Picking the right group to guide us through the transition was critical. We were looking for a partner with deep, service-related experience that also had a proven track record of working with companies receiving institutional capital for the first time. Incline hit all of those marks and more. In addition to their relevant experience, we quickly realized their approach to doing business was much like ours, and they were the right fit culturally as well.”
This acquisition marks the eighth transaction for Incline in 2016. In addition to adding Ned Stevens to the portfolio, Incline has completed three add-on acquisitions: Double E Company acquired Appleton Mfg.; AFC Holdings acquired Eckart and Finard; and Dorner Mfg. acquired Geppert. Incline also completed recapitalizations for Oracle Elevator, BCI Burke LLC, and Bacharach and completed its first exit in the third fund with the successful sale of AmSpec.
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 $30MM to $150MM 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.
