PE Deals

Incline invests in SPI

Incline Equity Partners has made an investment in Specialty Products and Insulation, a provider of insulation and complementary products for the commercial, industrial and residential markets.

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Incline Equity Partners has made an investment in Specialty Products and Insulation, a provider of insulation and complementary products for the commercial, industrial and residential markets. No financial terms were disclosed.

PRESS RELEASE

Incline Equity Partners (“Incline”), a Pittsburgh-based private equity firm, is pleased to announce that it has made an investment in Specialty Products and Insulation (“SPI” or the “Company”), a value-added distributor and fabricator of insulation and complementary products for the commercial, industrial and residential markets.

For nearly 40 years, SPI has supplied an extensive selection of mechanical and building insulation products focused on conserving energy, preserving worker safety and providing noise abatement. The Company, headquartered in Charlotte, NC, currently operates 59 distribution branches and 16 co-located fabrication facilities selling to over 3,500 contractors across the U.S. and Canada.

“SPI offers an unrivaled value proposition to its diverse customer base through its nationwide branch network, significant product breadth and technical fabrication capabilities,” said Mike Antonelli, Managing Director at Incline. “They have built a proven platform in a highly attractive market and are well-positioned to benefit from continued demand driven by aging infrastructure, MRO activity and increasing environmental and energy awareness. We are incredibly excited to support SPI through its next phase of growth.”

“Incline is the ideal partner to help us execute our multi-faceted growth plan,” said Jon Perry, CEO of SPI. “M&A has always been a priority, and with Incline’s expertise, we will have an ability to accelerate our pace of strategic acquisitions to expand into adjacent product categories and end markets. Additionally, we will work together to supplement growth through opening greenfield locations and enhancing operations through investments in systems and analytical reporting capabilities. We are enthusiastic about what the future holds with Incline.”