Pittsburgh-based Incline Equity Partners, a lower mid-market private equity firm, has sold The Orthotic Group to Frazier Healthcare Ventures. The Orthotic Group, based in Markham, Ontario, is a manufacturer, marketer and distributor of custom and branded medical products that treat foot, ankle and leg related conditions and diseases. Incline Equity Partners acquired the company in 2008 and facilitated three add-on acquisitions.
Incline Equity Partners, a Pittsburgh based lower middle-market private equity firm, announced today the sale of Orthotic Holdings, Inc. (OHI) to Frazier Healthcare. OHI, headquartered in Markham, Ontario, is a leading manufacturer, marketer and distributor of high quality, predominantly custom and branded medical products that treat foot, ankle and leg related conditions and diseases. The company is recognized as a North American market leader with entrenched relationships in each of its core healthcare provider sales channels through the development and deployment of its innovative foot scanning technology solution.
Incline Equity Partners’ strategic insight enabled the company to double earnings during its ownership, highlights of which include noteworthy process enhancements through the implementation of foot scanning technology, significant growth achieved by entering new sales channels and three targeted acquisitions. “We are proud of what we accomplished over the course of our four-year investment in OHI,” said Jack Glover, Partner of Incline Equity Partners. “Our synergy with the talented management team enabled us to achieve our strategic investment goals, providing the desired returns to investors and leaving the company well-positioned for future growth.”
Bruce Marrison, former Chief Executive Officer of OHI, said, “On behalf of the management team and our employees, I thank Incline Equity Partners for their collaborative partnership that acted as the catalyst for achieving our growth objectives.”
Charlie Rossetti, Senior Associate of Incline Equity Partners, added, “It has been a pleasure working with Bruce and his team over the years, and we wish them all the best in their future endeavors.”
Incline completed the investment in conjunction with MTN Capital Partners.
The sale transaction was led by Glover; Rossetti; and David Hamerling, Associate of Incline Equity Partners.
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.
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