Pittsburgh PE Shop is Inclined to Make Add-on Deals

Incline Equity Partners, the Pittsburgh-based private equity firm, and its portfolio company Wheaton Industries, Inc., will acquire MicroLiter Analytical Supplies, a provider of chromatography sample vials and accessories. It marks the third deal for Wheaton since Incline’s 2010 investment.


PITTSBURGH, December 21, 2012—Incline Equity Partners and portfolio company Wheaton Industries Inc. (“Wheaton”) announced today the acquisition of MicroLiter Analytical Supplies, Inc. (“MicroLiter”), a leading supplier of chromatography sample vials and accessories.

This is the third add-on acquisition for Wheaton Industries since Incline Equity’s initial investment in June 2010. Wheaton acquired Laboratory Sales Limited (LSL), a manufacturer and marketer of laboratory consumables, in February 2011. LSL, now doing business as WHEATON UK, is based in Rochdale, United Kingdom. In July 2012, Wheaton acquired CELLine, a manufacturer of disposable cell culture flasks.

MicroLiter, headquartered in Suwanee, Georgia, was founded in 1996 to provide high-quality consumable products to the chromatography market. Its product line includes glass autosampler vials, inserts, septa and closures, and the MicroLiter Plate Sampling System, a patented design that brings a 96-well, multi-array sample handling format for chromatography autosamplers.

“The MicroLiter acquisition is highly complementary to our core business as it enables Wheaton to better serve the fast-growing High Performance Liquid Chromatography (HPLC) market,” said Jack Glover, Partner of Incline Equity Partners and Wheaton director.

“The MicroLiter product portfolio is a great addition to Wheaton’s existing life sciences business,” said Jeff Huss, Senior Associate of Incline Equity Partners and Wheaton director. “With the support of Wheaton management, we continue to seek unique acquisition opportunities like MicroLiter that allow the company to expand into new market segments within the global laboratory supply industry.”

The MicroLiter transaction was led by the Incline team of Glover; Huss; and Dave Hamerling, Associate; along with Steve Drozdow, CEO; and Wayne Brinster, President of Wheaton. Glover and Huss represent Incline Equity Partners on the Company’s Board of Directors.

About Incline Equity Partners
Incline Equity Partners focuses on making private equity investments of $10 million to $25 million in support of leveraged buyouts, recapitalizations, and large minority financings of lower middle market growth companies with enterprise values between $25 million and $100 million across a variety of industry sectors including specialized light manufacturing, value-added distribution, and business and industrial services.