Incline Equity Partners has agreed to sell Portec Group International. The buyer is Interroll Group. Cañon City, Colo.-based Portec makes specialty conveyors.
PITTSBURGH, PA, June 14, 2013 —– Incline Equity Partners (“Incline”) a Pittsburgh-based lower middle-market private equity firm, announced today the signing of a definitive sale agreement for Portec Group International, Inc. (“Portec” or the “Company”). Portec will be integrated into the Interroll Group, a global manufacturer of material handling equipment.
Founded in 1957, and headquartered in Cañon City, CO, Portec is a leading manufacturer of specialty conveyors. Portec’s products include customized conveyer turns and spirals that are used in airport, postage and parcel, manufacturing, and warehousing applications.
“The Interroll transaction is a significant milestone for the company that exemplifies the opportunities that are available through proper partnership and seamless execution of strategic initiatives,” said Justin Bertram, Partner of Incline. “Our success in accelerating growth by expanding into international markets, introducing new products, and recruiting top tier talent made the company a prime target for a strategic buyer.”
“Incline’s experience and support through a turbulent economic cycle enabled the Company to thrive through all phases of growth,” said Marco Oropeza, CEO of Portec. “From data analysis and expertise, to enhancing the Board of Directors with key industry veterans, Incline’s insights provided valuable resources utilized at every level of the organization.”
The Portec sale will mark the third successful exit for Incline in two months. Incline recently sold Orthotic Holdings, Inc. and Caldwell & Gregory, LLC.
The sale transaction was led by Bertram and Cale Grove, Associate of Incline.
About Incline Equity Partners
Incline Equity Partners focuses on making private equity investments of $10 million to $25 million in support of leveraged buyouts, recapitalizations, and large minority financings of lower middle market growth companies with enterprise values between $25 million and $100 million across a variety of industry sectors including specialized light manufacturing, value-added distribution, and business and industrial services.
About Portec Group International, Inc.
Portec is a leading manufacturer of power belted turns and spiral conveyors for the airport and parcel industries.