MidWest Industrial Rubber, Inc.

The Story

Midwest Industrial Rubber is a leading value-added supplier of lightweight conveyor belting and related components.

Transaction Dynamics
A partnership with management to purchase the company from the founders. Management made a significant investment in the company as part of the transaction.

Investment Thesis

  • Non-cyclical revenue profile due to highly stable end markets of food manufacturing, personal hygiene and corrugated packaging
  • Recurring, diversified revenue base demonstrated by highly recurring order patterns, low customer concentration and very low customer churn
  • Multiple growth levers including buildout of existing locations, opening of new locations and M&A driven by fragmented market
  • Differentiated service offering demonstrated by best-in-class quality, technical knowledge, 24/7 service and lead times
  • Attractive margins, cash flow characteristics and deal dynamics

Incline Value Enhancement

  • Support organic expansion in existing and new markets
  • Drive M&A activity
  • Enhance salesperson hiring and training processes
  • Develop second layer of management to better support C-suite

Midwest Industrial Rubber

Headquarters

St. Louis, MO

Industry

Value-added Distribution

Investment Date

December 2016

Status

Active

Fund

III

We are well-positioned for multiple avenues of growth. Incline has a history of helping companies like ours prioritize and plan growth initiatives. That experience should allow us to grow faster and expand our national footprint. Mike Bruhn, Chief Executive Officer

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