Incline Equity Partners (“Incline”), a Pittsburgh-based lower middle-market private equity firm, is pleased to announce its portfolio company, Midwest Industrial Rubber (“MIR” or the “Company”), a leading value-added supplier of lightweight conveyor belting and related components, has acquired New England Belting Company (“NEBCO”).
NEBCO is an independent provider of specialty belts including edge belts, wave solder belts, timing belts and vacuum belts. Based in Berlin, CT, NEBCO has been the trusted brand in the Northeast for belting supplies for over fifty years.
“This marks the second acquisition since partnering with Incline in 2016,” said Mike Bruhn, CEO of MIR. “An important part of our growth strategy is finding companies to acquire in geographies targeted for expansion. These acquisitions provide quick access to new or underserved markets and strengthens both companies’ ability to serve customers.”
The acquisition gives MIR a stronger presence in the Northeast, allowing the Company to provide more direct fabrication, installation and on-call services to customers in the region. Additionally, the combined entity will have a broader selection of products to offer customers.
“NEBCO is a recognized and respected brand in the industry and will continue to operate as NEBCO, a division of MIR,” said John Morley, Managing Director of Incline. “The acquisition broadens the overall product and service offering, and we are pleased to have the NEBCO owners with us moving forward.”
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.