F.B. Leopold Company

The Story

F.B. Leopold Company designs, develops, and supplies a variety of products and services for the filtration segment of water and wastewater treatment plants. The Company provides all components necessary for a complete operating filter system, including the design and manufacture of air header pipe systems for backwash filters, backwash water troughs, anthracite filter media, and automatic filter control systems.

Transaction Dynamics

A partnership with management to acquire a corporate divestiture from Thames Water. A shift in Thames’ strategy led to the divestiture.

Investment Thesis

  • 50% market share within filtration segment
  • Robust backlog with high visibility of future earnings
  • Leading proprietary technology with large installed base
  • Beneficiary of increased government regulations, including the Clean Water Act
  • Well recognized brand and strong management team

Incline Value Enhancement

  • Developed international sales network to take advantage of growing water infrastructure development in emerging economies
  • Introduced several new products targeted at the municipal wastewater treatment industry
  • Oversaw entry into project management services for municipal drinking water treatment plants
  • Positioned company for strategic sale

Headquarters

Zelionople, PA

Industry

Specialized Light Manufacturing

Investment Date

March 2004

Status

Realized

Fund

I

Decor image