Incline Equity Partners has recapitalized Wholesale Supplies Plus, a distributor of raw materials, supplies and packaging used in the production of soap, lotion, cosmetics and candles as well as other personal care products by professional crafters. No financial terms were disclosed for the transaction that was done in partnership with WSP management.
Incline Equity Partners (“Incline”), a Pittsburgh-based private equity firm, is pleased to announce that it has partnered with management to recapitalize Wholesale Supplies Plus (“WSP” or the “Company”). WSP is a value-added distributor of raw materials, supplies and packaging used in the production of soap, lotion, cosmetics and candles as well as other personal care products by professional crafters.
Founded in 1999, WSP was established to provide professional crafters with the highest quality soap making, skincare and candle making supplies. The Company has the industry’s broadest assortment of products, including a variety of proprietary in-house blended soap bases, and provides its customers with resources and support to help them succeed as business owners.
Debbie May, Founder and CEO of WSP, said, “We are absolutely thrilled to partner with Incline. This investment will help to accelerate our growth and increase our ability to bring customers the very best products. The handmade industry continues to mature and gaining access to new resources enables us to fulfill our mission of helping our customers succeed.”
“WSP has an exceptional value proposition and is a critical partner to the small and emerging businesses it supplies,” said Evan Weinstein, Partner with Incline. “We are excited to work with Debbie and the team on new growth initiatives that will better the experience for existing and new customers, including capacity expansion, introducing new products and pursuing acquisitions.”
This transaction marks the third platform acquisition for Incline in 2019 and the inaugural investment in Incline’s first fund extension platform, Incline Elevate Fund, L.P. Elevate focuses on executing investments exclusively in the lower middle market.