Incline Equity Partners has sold Niles, Illinois-based Revolution Dancewear, a maker of specialty dancewear, footwear and recital costumes. The buyer was not named. No financial terms were disclosed.
Incline Equity Partners (“Incline”), a Pittsburgh-based lower middle-market private equity firm, announces the sale of Revolution Dancewear (“Revolution” or the “Company”). Financial terms of the transaction will not be disclosed.
Based in Niles, IL, Revolution is a leading designer and marketer of specialty dancewear, footwear, and recital costumes. Revolution’s unique business model is focused on sourcing quality products and selling directly to its more than 12,000 dance studio customers.
Through Incline’s ownership period, the Company saw significant investments in management that allowed the business to achieve substantially increased scale. A new CEO, CFO, and CIO were recruited to facilitate the founder’s transition to the Board and to build a robust infrastructure.
“We are very proud of what we have accomplished along with the management team at Revolution. We knew to grow the business, we needed to expand both geographically and into new product lines. The team achieved these goals through organic initiatives as well as through three acquisitions,” said Leon Rubinov, Partner with Incline. “Our combined efforts helped the Company more than double in size during our ownership.”
Joe Sclafani, CEO of Revolution, added, “Incline’s partnership has been a remarkable asset to Revolution. We have recently launched an innovative e-commerce marketplace to enhance our customer’s experience when ordering our products. Making the investments in this system would not have been possible without their support.”
This marks the final realization for Fund II and comes amongst several other transactions for Incline in 2018. These transactions include: three add-on acquisitions for Midwest Industrial Rubber, a transformative acquisition by Rotating Machinery Services and a recapitalization at Ned Stevens.