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Hartland Controls

Hartland Controls (“Hartland”) is a market leading supplier of electrical system components to the heating, ventilation, and air conditioning market and other industrial end markets.  Hartland has a top market share position in North America supplying definite purpose contactors and has a growing portfolio of complementary products including transformers, relays and capacitors.


How We Partnered

Transaction Dynamics

A recapitalization of the company in partnership with management. The key members of management reinvested proceeds into the transaction.

Investment Thesis

  • Strong prospects for continued growth in the contactor market
  • Expansion into adjacent product lines
  • Attractive, value-added distribution business model
  • Significant reinvestment from proven management team
  • Strong financial profile with high free cash flow conversion

Incline Value Enhancement

  • Transitioned from a founder-run business to a professionalized management team
  • Invested in supplier diversification through establishing manufacturing in Mexico
  • Focused on new product introductions to drive growth

Rock Falls, IL




Value-added Distribution


February 2014

This is an exciting time for Hartland; our company is growing quickly. Incline will give us the tools we need to support that growth.

Steve Schreiner, Founder

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