Incline Equity Partners has sold Rotating Machinery Services, a provider of specialty aftermarket repair, maintenance and overhaul services for large, highly engineered rotating machinery. No financial terms were disclosed. UPDATE: Cortec Group was the buyer.
Incline Equity Partners (“Incline”), a Pittsburgh-based private equity firm, announces the sale of Rotating Machinery Services (“RMS” or the “Company”), a global provider of specialty aftermarket repair, maintenance and overhaul services for large, highly engineered rotating machinery. Incline originally invested in the Company in 2015.
Founded in 1997, RMS is a multi-location aftermarket turbomachinery services company, providing repairs, re-rates and parts for industrial rotating machinery and equipment, including compressors, expanders and turbines. The Company’s solutions improve performance and extend the useful life of complex machinery used in customers’ critical industrial processes.
“When we initially partnered with RMS, it was a durable business with tremendous potential but was underinvested in and operating without a growth mandate,” said Justin Bertram, Senior Partner with Incline. “We focused our efforts on developing the infrastructure needed to enhance operations and recruiting a talented management team with a growth vision. Those efforts paid off, and in just three and half years, we more than tripled the size of the business. We’re very proud to have helped transform the Company from a single facility to a global provider with five locations across two continents.”
John Bartos, CEO of RMS, added, “Incline was the first institutional partner for RMS. They did a fantastic job of pushing the Company forward while maintaining the legacy and culture that were important components to our success in the market. Incline was also instrumental in RMS completing two very strategic, sizeable acquisitions. Their deep experience completing acquisitions allowed us to better analyze the investments initially and significantly improved our ability to achieve a smooth integration and seamless transition for customers. RMS is strategically positioned for the next phase of growth.”