Incline Equity Partners (“Incline”), a Pittsburgh-based lower middle market private equity firm, announces its portfolio company, P.T. International (“PTI”), a provider of mechanical power transmission components for industrial and commercial applications, has acquired IPTCI Bearings (“IPTCI” or the “Company”).
Based in Chanhassen, Minnesota, IPTCI specializes in the supply of mounted ball bearings to the industrial, agricultural and food and beverage industries. The Company has a trusted brand name in the industry, serving the North American market for over 45 years.
“The acquisition of IPTCI significantly increases our offering of both standard and corrosion resistant mounted ball bearings,” said Darin Davenport, Chief Executive Officer of PTI. “Additionally, the geographic footprint of IPTCI allows us to better serve customers in the Central and Western United States.”
Leon Rubinov, Partner with Incline, added, “IPTCI is a leading name in the bearing and mechanical power transmission markets. Partnering with the business meaningfully strengthens PTI’s product offering. We are also very proud to have nearly doubled the size of PTI in less than one year of partnering with the management team.”
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.