Incline Equity Partners Re-Establishes its Relationship with Caldwell & Gregory
- December 06, 2018
Incline Equity Partners (“Incline”), a Pittsburgh-based lower middle-market private equity firm, is pleased to announce that it has once again partnered with the management team at Caldwell & Gregory (“C&G” or the “Company”), a leading provider of turnkey laundry facility management services for customers in the university and multifamily housing markets. Incline originally partnered with and invested in C&G in 2008. This transaction is particularly meaningful for Incline given its embedded relationship with the founder and management team.
“We kept in touch with the management team and have often caught up on the Company’s progress since exiting our partnership with them in 2013,” said Justin Bertram, Partner with Incline. “They’ve done a tremendous job of growing the business over the past five years while continuing to utilize a superior service model that invests significant labor and capital to ensure that its customers’ facilities are operating effectively. We couldn’t be happier to be supporting C&G and its management team again through the next phase of growth.”
Based in Manakin-Sabot, VA, C&G owns and services over 50,000 laundry machines across 23 states and the District of Columbia. In addition to state-of-the-art equipment and industry-leading service, C&G also provides user benefits such as machine activation by smart phone and electronic payment options. These benefits dramatically increase user satisfaction and solidify recurring revenues.
Bob Dinnie, CEO of C&G added, “One of C&G’s key differentiators is its consultative, collaborative approach and commitment to outstanding customer service. This is a shared value with Incline. Our partnership will allow us to remain true to our core values, while also providing for continued financial stability. We trust Incline to help us better assess and prioritize the multiple avenues for growth ahead of us and to support our management team. It is exciting to once again partner with people we trust and enjoy working with.”
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 $25MM 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.