News from Incline Equity Partners – October 2, 2015
- October 02, 2015
Recapitalization of Rotating Machinery Services
Incline Equity Partners (“Incline”), a private equity firm focused on making investments in lower middle-market growth companies, announces an investment in Rotating Machinery Services (“RMS” or “The Company”), a provider of aftermarket turbomachinery services. Financial terms are not being disclosed.
Headquartered in Bethlehem, PA, RMS provides repair and remanufacturing of heavy rotating equipment used in a variety of industrial end-markets, including oil & gas refining, steel, chemicals and natural gas transmission. The Company also provides field services to complement its wide array of engineering, re-rate and repair capabilities.
“We have been building the Company for almost 20 years,” said Jerry Hallman, President at RMS. “We realized through the initial outreach how much more we could be doing, but preserving our legacy and culture was very important to us. Incline quickly proved that they were the right partners for us during the next phase of growth. We are confident in their ability to help us grow, while maintaining the things we like about us today.”
“RMS is a perfect fit for Incline,” said Jack Glover, Partner. “It is a founder owned, proven business with deep technical expertise and the ability to service all types and models of OEM equipment.”
Justin Bertram, Partner with Incline, added, “RMS is a trusted name in the market, and we are eager to help them expand their reach geographically, allowing them to better service existing customers while targeting new ones. There are also opportunities to broaden their product line expertise, further positioning them as a leader in an underserved market.”
Add-on for Double E Company, LLC
Incline is excited to announce the acquisition of Epoch Industries (“Epoch”), a manufacturer of precision idler rollers for the converting industry, as an add-on for Double E Company, LLC (“Double E”). Double E is a leading designer, manufacturer and distributor of engineered solutions and component parts used in web converting equipment. Financial terms are not being disclosed.
“Founded in 1988, Epoch is a respected brand in a niche market within the converting industry,” said Leon Rubinov, Principal with Incline. “We had a limited product set in this segment, and Epoch provided an opportunity to quickly add high quality products and customer service, with very short lead times in both quoting and delivery. The founder of Epoch is an industry veteran, and we are thrilled to have him lead the roller division of Double E moving forward.”
2015 Executive Forum
Incline’s 2015 Executive Forum was held in Phoenix, AZ. The forum is an annual program designed for the executive management of Incline’s portfolio companies and Incline’s operating partners. The forum supports the success of portfolio companies through enhanced communication, education, relationship building and the sharing of best practices.
Incline is proud to announce the promotion of John Morley to Vice President.
Joe Choorapuzha joined Incline in October as Vice President.
Victor Martinelli joined Incline in September as Associate.
Seeking Add-On Acquisitions
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.