Environmental Express

The Story

Environmental Express, Inc. is a leading developer, manufacturer, and distributor of environmental laboratory equipment and supplies, providing an entire range of laboratory products for commercial, governmental, industrial, and academic laboratories worldwide. Applications of their products include the analysis of water and wastewater, oil and grease, metals, and hazardous waste.

Transaction Dynamics

A partnership with management to acquire the company from a private owner.  Management made a significant reinvestment in the company as part of the transaction.

Investment Thesis

  • Leading supplier of niche products serving diverse customer base with high switching costs
  • Leverage prior experience in laboratory products from investment in Wheaton Industries
  • Ongoing regulatory testing requirements provide strong recurring revenue base
  • Management team contributing a significant equity investment

Incline Value Enhancement

  • Completed strategic add-on acquisition
  • Relocated operations to a new facility
  • Improved sourcing and operational efficiency
  • Pursued OEM partnership opportunities
  • Upgraded management team

Headquarters

Charleston, SC

Industry

Value-Added Distribution

Investment Date

March 2011

Status

Realized

Fund

II

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