Hartland Controls

The Story

Hartland Controls (“Hartland”) is a market leading supplier of electrical system components to the heating, ventilation, and air conditioning market and other industrial end markets. ┬áHartland has a top market share position in North America supplying definite purpose contactors and has a growing portfolio of complementary products including transformers, relays and capacitors.

Transaction Dynamics

A recapitalization of the company in partnership with management. The key members of management reinvested proceeds into the transaction.

Investment Thesis

  • Strong prospects for continued growth in the contactor market
  • Expansion into adjacent product lines
  • Attractive, value-added distribution business model
  • Significant reinvestment from proven management team
  • Strong financial profile with high free cash flow conversion

Incline Value Enhancement

  • Accelerating growth in product portfolio
  • Improving operational relationship with joint venture partner in China
  • Implement improved sales management strategies
  • Facilitate management team development to support future growth


Rock Falls, IL


Value-added Distribution

Investment Date

February 2014



This is an exciting time for Hartland; our company is growing quickly. Incline will give us the tools we need to support that growth. Steve Schreiner, Founder

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