Incline Exits Investment in Oracle Elevator
- May 19, 2017
Incline Equity Partners (“Incline”), a private equity firm focused on making investments in lower middle-market growth companies, is excited to announce the sale of Oracle Elevator (“Oracle” or the “Company”). Oracle is the largest independent provider of contractually-based maintenance, modernization and repair services for all major brands of elevator equipment. The Company maintains over 11,000 elevators through 22 branches across 13 states in the Midwestern, Southeastern and Southwestern U.S.
“We take great pride in saying that Oracle is a national independent alternative provider to the Big Four elevator OEMs,” said Jack Glover, Partner with Incline. “We spent time helping Oracle plan and prioritize a strategy to create a position of strength against the giant competitors in the market. They needed wins with larger property managers, experience in more sophisticated equipment sectors and increased scale to more quickly penetrate attractive market segments.”
Incline invested in the infrastructure of the organization to support the accelerated growth and to increase operational efficiency. In addition to adding sales and operational resources, the Company completed 5 add-on acquisitions, opened 3 new branches and installed data analytics to track branch-level metrics.
“Our investments in the Company allowed us to more than double our market share and to significantly increase profitability,” said Leon Rubinov, Partner with Incline. “An important component of the strategy was creating a scalable platform that could withstand the substantial growth we felt the Company could achieve.”
Paul Belliveau, President & CEO of Oracle, added, “Incline provided the expertise that allowed us to improve the operations of our business, expand the geographic footprint and broaden our service offerings and capabilities. They also invested in us, the people within the Company. Building the culture at Oracle was as important to them as everything else.”
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 $50MM to $200MM across a variety of industry sectors including value-added distribution, specialized light manufacturing and business 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.