Incline Equity Partners (“Incline”), a Pittsburgh-based lower middle-market private equity firm, announces the sale of Revolution Dancewear (“Revolution” or the “Company”). Financial terms of the transaction will not be disclosed.
Based in Niles, IL, Revolution is a leading designer and marketer of specialty dancewear, footwear, and recital costumes. Revolution’s unique business model is focused on sourcing quality products and selling directly to its more than 12,000 dance studio customers.
Through Incline’s ownership period, the Company saw significant investments in management that allowed the business to achieve substantially increased scale. A new CEO, CFO, and CIO were recruited to facilitate the founder’s transition to the Board and to build a robust infrastructure.
“We are very proud of what we have accomplished along with the management team at Revolution. We knew to grow the business, we needed to expand both geographically and into new product lines. The team achieved these goals through organic initiatives as well as through three acquisitions,” said Leon Rubinov, Partner with Incline. “Our combined efforts helped the Company more than double in size during our ownership.”
Joe Sclafani, CEO of Revolution, added, “Incline’s partnership has been a remarkable asset to Revolution. We have recently launched an innovative e-commerce marketplace to enhance our customer’s experience when ordering our products. Making the investments in this system would not have been possible without their support.”
This marks the final realization for Fund II and comes amongst several other transactions for Incline in 2018. These transactions include: three add-on acquisitions for Midwest Industrial Rubber, a transformative acquisition by Rotating Machinery Services and a recapitalization at Ned Stevens.
About Incline Equity Partners:
Incline Equity Partners, headquartered in Pittsburgh, Pennsylvania, is a private investment firm focused on making investments in lower middle-market growth companies. We are generally seeking companies with enterprise values of $50MM to $300MM across a variety of industry sectors including specialized light manufacturing, value-added distribution and business services. Our typical investment types are ownership transitions for privately held businesses, buyouts, corporate divestitures and minority recapitalizations within the U.S. and Canada.
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.