Incline Equity Partners Announces Sale of Portec Group International, Inc.
- June 13, 2013
Incline Equity Partners (“Incline”) a Pittsburgh-based lower middle-market private equity firm, announced today the signing of a definitive sale agreement for Portec Group International, Inc. (“Portec” or the “Company”). Portec will be integrated into the Interroll Group, a global manufacturer of material handling equipment.
Founded in 1957, and headquartered in Cañon City, CO, Portec is a leading manufacturer of specialty conveyors. Portec’s products include customized conveyer turns and spirals that are used in airport, postage and parcel, manufacturing, and warehousing applications.
“The Interroll transaction is a significant milestone for the company that exemplifies the opportunities that are available through proper partnership and seamless execution of strategic initiatives,” said Justin Bertram, Partner of Incline. “Our success in accelerating growth by expanding into international markets, introducing new products, and recruiting top tier talent made the company a prime target for a strategic buyer.”
“Incline’s experience and support through a turbulent economic cycle enabled the Company to thrive through all phases of growth,” said Marco Oropeza, CEO of Portec. “From data analysis and expertise, to enhancing the Board of Directors with key industry veterans, Incline’s insights provided valuable resources utilized at every level of the organization.”
The Portec sale will mark the third successful exit for Incline in two months. Incline recently sold Orthotic Holdings, Inc. and Caldwell & Gregory, LLC.
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.