Wheaton Industries Buys CELLine

Wheaton Industries Inc., a portfolio company of Incline Equity Partners, has acquired CELLine, a division of Wilson Wolf Manufacturing Corp. that manufactures disposable cell culture flasks. Terms of the deal were not released.


Incline Equity Partners and portfolio company Wheaton Industries Inc. (“Wheaton”) announced today the acquisition of CELLine, a division of Wilson Wolf Manufacturing Corporation that manufactures disposable cell culture flasks.


This is the second add-on acquisition for Wheaton Industries since Incline’s initial investment in June 2010. In February 2011, Wheaton acquired Laboratory Sales Limited (LSL) in Manchester, England.


CELLine flasks are dual membrane cell culture devices used in small scale antibody and protein production.  The product line is recognized by leading scientists worldwide for its ease of use and laboratory productivity.


“This acquisition reflects our commitment to enhancing value at Wheaton through acquisitions,” said Jack Glover, Partner of Incline Equity Partners and Wheaton director.  “The CELLine portfolio augments Wheaton’s position in the growing market of cell culture tools used in the life science industries.”


The CELLine transaction was led by Glover; Jeff Huss, Senior Associate; and Dave Hamerling, Associate; along with Steve Drozdow, CEO of Wheaton.  Glover and Huss represent Incline Equity Partners on Wheaton’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.