Incline Equity Partners, a Pittsburgh, PA-based lower middle-market private equity firm, closed Incline Equity Partners III, L.P. and affiliated funds at over $301m.
Investors in Incline Equity Partners III L.P. include pension funds, fund-of-funds, insurance companies, family offices, and foundations, as well as executives from the firm’s current and prior portfolio companies. It will focus on lower middle market making investments of $10m to $25m, with the ability to syndicate up to $50 million, in support of leveraged buyouts, recapitalizations, and large minority financings in lower middle market growth companies, with enterprise values between $25m and $100m.
Led by partners Justin Bertram, Wali Bacdayan and Jack Glover, the firm targets companies with specific business models operating within the specialized light manufacturing, value-added distribution, and business and industrial services industry sectors.
IEP III has invested in:
– Double E Company (April 2012) a manufacturer and distributor of web process solutions and parts;
– Dorner Manufacturing Corporation (June 2012) a manufacturer and supplier of unit handling conveyors and components; and
– AmSpec, LLC (April 2013) a provider of testing, inspection, and certification services to oil, gas, and petrochemical industries.