Incline Equity Partners (“Incline”), a Pittsburgh-based private equity firm, is pleased to announce its portfolio company, Continental Batteries (“Continental” or the “Company”), a leading distributor of aftermarket batteries to the automotive, commercial, electric utility vehicle, marine and industrial markets, has acquired Battery Joe and Battery Solutions (the “Acquisitions”).
The Acquisitions add regional branch locations in West Texas and enhance the Company’s ability to service customers with its high-touch service model. Continental’s footprint now spans eighty-one locations across nineteen states, up from twenty-two locations across seven states when Incline acquired the business in December 2017.
“We are proud to have become the acquirer of choice in the aftermarket battery distribution industry, having now completed 16 acquisitions in just under two years,” said Eric Royse, President and Chief Executive Officer of Continental. “Our value proposition to business owners remains strong, and we continue to receive a high volume of inbound interest from similar companies.”
“We are pleased with the stability the Company showed through the recent market disruption, allowing us to continue to push forward on the acquisition strategy,” said John Morley, Partner with Incline. “In addition to providing significant geographic expansion, the Acquisitions have strengthened Continental’s value to our global manufacturing partners.”
Continental remains excited to partner with U.S. or Canadian aftermarket battery distributors that expand the Company’s geographic footprint, enhance its presence in core markets or add reputable brands to the product portfolio.
About Incline Equity Partners:
Incline Equity Partners, headquartered in Pittsburgh, Pennsylvania, is a private equity firm investing in manufacturing, distribution and business services companies. Incline is generally seeking growing companies with enterprise values of $25 – $450 million. Incline’s typical investment types are ownership transitions for privately held businesses, buyouts and corporate divestitures within the U.S. and Canada.
Incline Management, L.P. (“IMLP”) is registered with the U.S. Securities and Exchange Commission as an investment adviser under the U.S. Investment Advisers Act of 1940, as amended. Registration as an investment adviser does not imply a certain level of skill or training. IMLP provides investment advisory services only to privately offered funds. IMLP does not solicit or make its services available to the public or other advisory clients. This press release is intended solely to provide information regarding Incline’s potential capabilities for prospective portfolio companies, and is not an offer to sell to any person, or a solicitation from any person of an offer to buy, any securities. The statements contained herein are not statements of any IMLP client fund or investor and do not describe any experience with or endorsement of IMLP as an investment adviser by any such client or investor.