Midwest Industrial Rubber
Midwest Industrial Rubber is a leading value-added supplier of lightweight conveyor belting and related components.
PORTFOLIO STORY
How We Partnered
Transaction Dynamics
A partnership with management to purchase the company from the founders. Management made a significant investment in the company as part of the transaction.
Investment Thesis
- Non-cyclical revenue profile due to highly stable end markets of food manufacturing, personal hygiene and corrugated packaging
- Recurring, diversified revenue base demonstrated by highly recurring order patterns, low customer concentration and very low customer churn
- Multiple growth levers including buildout of existing locations, opening of new locations and M&A driven by fragmented market
- Differentiated service offering demonstrated by best-in-class quality, technical knowledge, 24/7 service and lead times
- Attractive margins, cash flow characteristics and deal dynamics
Incline Value Enhancement
- Supported organic expansion in existing and new markets
- Drove significant M&A activity
- Enhanced salesperson hiring and training processes
- Developed second layer of management to better support C-suite
HEADQUARTERS
Kansas City, MO
STATUS
Realized
INDUSTRY
Value-added Distribution
INVESTMENT DATE
December 2016
We are well-positioned for multiple avenues of growth. Incline has a history of helping companies like ours prioritize and plan growth initiatives. That experience should allow us to grow faster and expand our national footprint.