Incline sells Continental Batteries

Incline Equity Partners has sold Dallas-based Continental Batteries, a distributor of aftermarket batteries, to H.I.G. Capital. No financial terms were disclosed.

PRESS RELEASE

Incline Equity Partners (“Incline”), a Pittsburgh-based private equity firm, is pleased to announce the sale of Continental Batteries (“Continental” or the “Company”), a leading distributor of aftermarket batteries to the automotive, commercial, electric utility vehicle, marine and industrial markets. Incline partnered with the third-generation family owners in December 2017.

Headquartered in Dallas, TX, Continental has a strong value proposition and has grown into one of the industry’s most recognized and reliable distributors of aftermarket batteries across its end markets. Continental has over 100 locations in North America and a distribution network of more than 30,000 dealers.

“Working closely with the management team to transform the Company from a regional distributor to a national provider has been a rewarding experience,” said John Morley, Partner at Incline. “In a very short period, we made 21 acquisitions that drove revenue growth of over 200% and expanded locations from 22 in 7 states to 102 in 25 states plus Canada. The acquisitions significantly strengthened Continental’s value to their global manufacturing partners as well as to their customers.”

“Incline has been an instrumental partner to Continental,” said Eric Royse, President and Chief Executive Officer of Continental. “Incline helped us formulate a strategy and playbook to amplify our approach to making acquisitions. Additionally, they significantly invested in the management team and operations of the business to ensure the infrastructure could support the accelerated pace of growth. We have a strong foundation as we enter our next partnership.”