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


Millville, NJ


Value-added Distribution

Investment Date

June 2010





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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