Incline Acquires Double E Company, First Platform in New Fund
- April 05, 2012
Incline Equity Partners announced today the acquisition of West Bridgewater, MA-based Double E Company, LLC (“Double E”), a leading designer, manufacturer, and distributor of engineered solutions and components parts used in web process manufacturing.
Founded in 1972, Double E provides a comprehensive product line of web accessory component solutions to more than 7,000 customers in the paper, film, foil, corrugated, packaging, printing and non-woven end markets. The company’s product lines include core chucks, core shafts, safety chucks, core plugs, fiberglass cores, rollers, shafted roll stands, and core cutters.
“Double E is a perfect candidate for investment given its market leading position in a niche industry and long history of success under the current management team,” said Jack Glover, Partner of Incline Equity Partners. “Moreover, the company benefits from an established brand name and large installed base which provides recurring replacement demand for its products.”
Double E is a global company with manufacturing operations in the United States and Italy and sales representation in more than 47 countries. In addition to a portfolio of manufactured products, Double E has successfully secured distribution relationships with leading web converting componentry manufacturers world-wide including, Re Spa, Gavo Meccanica, and Mario Cotta.
“We were particularly attracted to the near-term growth opportunities at Double E resulting from product line expansion, both internally and through add-on acquisitions,” said Leon Rubinov, Principal of Incline Equity Partners. “In addition, a key driver of growth going forward will be the expansion of the company’s highly technical direct sales force in key geographical markets, both domestically and abroad.”
“We are truly excited to have Incline Equity as a partner,” said Mark Fortin, CEO of Double E Company. “Incline’s team shares our strategic vision for the business and their impressive track record of building businesses through strategic acquisitions will be essential as we look to expand into new markets.”
Senior debt for the transaction was provided by Madison Capital Funding.
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.