Incline Equity Partners (“Incline”), a Pittsburgh-based private equity firm, is pleased to announce the sale of Solve Industrial Motion Group (“Solve” or the “Company”), a value-added supplier of an extensive range of European metric and American standard mechanical power transmission components for both industrial and commercial applications. Incline invested in the Company in December 2017.
Founded in 1994 and based in Charlotte, NC, Solve offers a portfolio of globally-sourced products, including ball bearings, mounted bearings, linear bearings, bearing housings and accessories, as well as a variety of roller chain and belt drive components. The Company serves a diverse base of prominent distributors and OEMs across North America.
“We are incredibly proud of the transformational growth Solve achieved throughout our partnership,” said Leon Rubinov, Senior Partner at Incline. “Together with management, we significantly accelerated growth while also building out operations to drive scalability, more than doubling the size of the business. We executed several strategic initiatives, including implementing an ERP system, optimizing the Company’s third-party sales rep network and strengthening the management team with key hires and promotions.”
“It has been a pleasure working with Incline,” said Lisa Mitchell, CEO of Solve. “Their partnership and resources helped us significantly improve our market position through an enhanced go-to-market strategy and the launch of a new brand. Additionally, they supported us in identifying, acquiring and integrating a highly strategic acquisition. The Company is very well-positioned for continued success.”
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.