PE-backed Rotating Machinery Services acquires ACC

Rotating Machinery Services, a portfolio company of Incline Equity Partners, has acquired AC Compressor and CONMEC Engineered Compressors from Baker Hughes. No financial terms were disclosed; however, Twin Brook provided financing to support the acquisition.


Incline Equity Partners (“Incline”), a Pittsburgh-based lower middle-market private equity firm, announces the acquisition of AC Compressor and CONMEC Engineered Compressors (“ACC” or the “Company”) from Baker Hughes, a GE Company, by its portfolio company Rotating Machinery Services (“RMS”).

Founded in 1997, RMS is a national, multi-location aftermarket turbomachinery services company, providing repairs, re-rates and parts for industrial rotating machinery and equipment, including compressors, expanders and turbines. The acquisition positions RMS to provide additional replacement parts and expanded capabilities to its existing clients, as well as improved service levels to the ACC customer base.

“The acquisition empowers us with the expert personnel, intellectual property, associated tooling of the AC Compressor products and the drawings for the CONMEC centrifugal and axial compressor offerings,” said John Bartos, CEO at RMS. “Acquiring these fundamentals gives RMS the unique ability to act as an OEM while maintaining its sole focus on aftermarket work. The ACC and CONMEC service offerings are extremely important to RMS, and we are proud to be the leading provider in the market.”

The combined entity gives RMS a global footprint and an installed base of over 1,000 ACC units. The customer base can expect enhanced product capabilities, an expanded geographic footprint for faster turnaround times and the superior service levels the industry has come to expect and trust from RMS.

“We are proud to have helped RMS more than triple the size of the Company since our initial investment,” said Justin Bertram, Partner with Incline. “This transaction marks our second acquisition together, and it strategically positions RMS for the next phase of growth. We will be laser focused on the integration and ensuring a smooth transition for the ACC customer base.”

About Incline Equity Partners:
Incline Equity Partners, headquartered in Pittsburgh, Pennsylvania, is a private investment firm focused on making investments in lower middle-market growth companies. We are generally seeking companies with enterprise values of $50MM to $300MM across a variety of industry sectors including specialized light manufacturing, value-added distribution and business services. Our typical investment types are ownership transitions for privately held businesses, buyouts, corporate divestitures and minority recapitalizations within the U.S. and Canada.