Wheaton Industrial, Inc.

The Story

Wheaton Industries, Inc. is a premium provider of laboratory glassware, consumables, instrumentation and associated products and services sold principally to customers in the general laboratory, life sciences, diagnostics, and reagent/chemicals packaging markets.

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 laboratory consumable products serving attractive end markets
  • Strong brand name recognized by loyal end users
  • Favorable industry trends led by increasing spend on Healthcare R&D
  • Strong organic growth opportunities with potential for add-on acquisitions

Incline Value Enhancement

  • Expanded product portfolio and geographic reach with three acquisitions:  LSL, CELLine, and MicroLiter
  • Realigned leadership to better suit the Company’s strategy
  • Improved gross margins by focusing on more profitable product mix and investing in sales tools
  • Strengthened technical profile of the sales force

Headquarters

Millville, NJ

Industry

Value-added Distribution

Investment Date

June 2010

Status

Realized

Fund

II

Incline helped us think differently about our business, opening opportunities we would have never thought possible. Wayne Brinster,Chief Executive Officer and President

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