Incline Equity Partners Exits Wheaton Industries, Inc.

  • News
  • October 02, 2015

Text Wrap Image HolderIncline Equity Partners (“Incline”), a private equity firm focused on making investments in lower middle-market growth companies, announces the sale of Wheaton Industries, Inc. (“Wheaton” or “The Company”), a premium provider of laboratory glassware, consumables, instrumentation and associated products and services.  Financial terms of the sale are not being disclosed.

Headquartered near Millville, New Jersey, The Company has over 125 years of experience in the manufacturing and supply of the highest quality glass and plastic laboratory supplies to customers in the general laboratory, life sciences, diagnostics and reagent/chemicals packaging markets. Wheaton’s highly critical, customizable products are relied on by thousands of end users in supporting scientific discovery and breakthroughs and commercial production for human and animal health markets.

“The Wheaton brand had an exceptional market position at our initial investment, and the company was primed for growth through product expansion and acquisition,” said Jack Glover, Partner with Incline.  “We take great pride in having provided the expertise and support necessary for the management team to have closed three accretive acquisitions, while at the same time growing the organic business through an improved go to market strategy.”

“Incline helped us think differently about our business, opening opportunities we would have never thought possible,” said Wayne Brinster, President and CEO of Wheaton.  “Their experience was not only critical to the seamless integration of three acquisitions, it enabled us to significantly improve our margin profile through an enhanced, product focused sales program.”

This exit comes amidst an active year for Incline.  In addition to several portfolio dividend recapitalizations, Incline added new platform, AFC Holdings, a leading provider of supply chain management services and vendor managed inventory programs to original equipment manufacturers, in March.  That acquisition was quickly followed by its first add-on just 90-days later.  “We have great momentum right now,” said Glover, “and we look forward to ending the year strongly.”

 

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.

 

Disclaimer: 
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.

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