Transaction Dynamics

A recapitalization of the company in partnership with the owner and management.  The owner and management invested significant proceeds in the transaction.

Investment Thesis

• Established player in a highly-fragmented, niche space
• Recession resistant end market with attractive tailwinds
• Loyal customer base generating stable, reoccurring revenue
• Multiple growth levers including executing acquisitions and investing in both resources and new product development

Incline Value Enhancement

• Executed three accretive acquisitions, adding new services, end markets and geographies.
• Expanded end market reach to pipeline, renewable and other infrastructure right-of-way operators.
• Launched five adjacent services, including the company’s proprietary Himmel drone program.
• Improved internal systems to enhance reporting capabilities and optimize field operations.
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