Incline Acquires ASP Global
- February 11, 2020
Incline Equity Partners (“Incline”), a Pittsburgh-based private equity firm, announces an investment in ASP Global (the “Company” or “ASP”). ASP sources and distributes healthcare supplies, including patient preference items, lab supplies and orthopedic products, to hospitals and other healthcare settings.
Based in Atlanta, GA, ASP leverages its expansive sourcing network to provide high quality products that are customized to meet the specific needs of healthcare providers. The Company’s broad set of capabilities gives hospitals and health systems control over the design and functionality of their products, ultimately helping them meet financial and patient experience goals that are critical to their long term success.
“ASP serves an important niche by providing a tailored product offering to a marketplace accustomed to a limited set of alternatives,” said Tom Ritchie, Partner at Incline. “The Company has experienced tremendous growth supported by an exceptional value proposition in a recession resistant end market, and we are thrilled to be able to work with Lorne and his team moving forward.”
Lorne Tritt, President and CEO of ASP, added, “We have invested heavily in our business over the past several years and completed five acquisitions. With Incline as our partner, we are well positioned to further accelerate the Company’s growth through an expanded sales effort and additional acquisitions. We very much enjoyed getting to know the Incline team, and we are excited to have them as our partner.”
The investment was made through Incline’s lower middle market fund extension platform, Incline Elevate Fund, L.P.
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.