Incline Equity Partners has backed Hartland, Wisc.-based Dorner Mfg. Corp., a designer, manufacturer, and supplier of conveyor systems and components parts. Terms of the deal were not released.
Incline Equity Partners announced today its partnership with Hartland, WI-based Dorner Mfg. Corp. (“Dorner”), a leading designer, manufacturer, and supplier of unit handling conveyor systems and components parts used to address automation needs in industrial, packaging, food, medical, and pharmaceutical end markets. Founded in 1969 by members of the Dorner family, Dorner is a leader in the high performance conveying equipment sector, having developed a robust product line that features everything from heavy-duty industrial aluminum conveyors to low-profile stainless steel conveyors used in sanitary environments.
“Dorner has established a strong brand name in the unit handling conveyor industry,” said Wali Bacdayan, Partner of Incline Equity Partners. “The Company has built a strong reputation by developing innovative products that resolve customers’ process automation challenges, enhancing productivity and delivering efficiency gains in a broad range of commercial and industrial applications.”
Dorner manufactures both built-to-order and engineered-to-order conveyors and sells to a diversified customer base of channel partners, OEMs, and systems integrators. In addition, the Company maintains a large and growing installed base of conveyors which require replacement parts and service. Dorner delivers products within best-in-class service times and backed by an industry-leading 10 year warranty which results from the Company’s customer-focused culture and commitment to lean manufacturing principles.
“We have been particularly impressed by Dorner’s strong management team, best-in-class manufacturing operations, and growth prospects,” said Justin Bertram, Partner of Incline Equity Partners. “We look forward to supporting management’s efforts to achieve various growth initiatives as well as to pursue strategic acquisitions in certain target areas.”
“The management team and I are excited about our partnership with the Incline team,” said Rich Ryan, CEO of Dorner. “With Incline’s support, we are well-positioned to invest in or acquire the appropriate resources needed to better service our existing customers as well as to support our growth into new product areas, end markets, and geographies.”
The transaction was led by Bacdayan; Bertram; Jeff Huss, Senior Associate; and David Hamerling, Associate of Incline Equity Partners. Bacdayan, Bertram, and Huss will represent the firm on Dorner’s Board of Directors.
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.