Incline Equity Partners (“Incline”), a Pittsburgh-based lower middle-market private equity firm, proudly announces the recapitalization of Hartland Controls (“Hartland”).

Hartland, headquartered in Rock Falls, IL, is a premier supplier of electrical system components to the heating, ventilation and air conditioning market, as well as other industrial end markets. Hartland is the leading provider of definite purpose contactors in North America. The company also boasts a growing portfolio of complementary products including transformers, relays and capacitors.
CEO Steve Schreiner says, “This is an exciting time for Hartland; our company is growing quickly. Incline will give us the tools we need to support that growth.”

That growth includes continuing to build upon its presence in the contactor sector while expanding adjacent product line offerings. Incline will assist the Hartland team in developing strategic rollouts of these efforts to ensure that the company’s growth is steady, measurable and successful.

Jack Glover, a partner at Incline, adds that “Hartland is everything we look for in a company. They have a strong value-added distribution model, a proven management team and a solid financial profile, with incredible growth opportunities.”

Incline Principal Leon Rubinov, who worked closely with management to recapitalize the company, remarks, “working with the Hartland team has been a pleasure; they’ve reinvested substantial proceeds into the transaction, thus creating an ideal transaction structure. The Hartland team has built a great brand and the entire team brings a real energy to their work. I look forward to the future – which will, no doubt, be promising.”

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 $125MM across a variety of industry sectors including value-added distribution, specialized light manufacturing and business and industrial 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.

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.