Incline Equity Partners Completes Strategic Sale of SPI
Incline Equity Partners Completes Sale of Specialty Products and Insulation
Incline Equity Partners, a distinguished private equity firm known for its commitment to the middle market, proudly announces the successful sale of Specialty Products and Insulation (SPI) to TopBuild. This strategic transaction marks a significant step in enhancing the market reach of SPI, which specializes in mechanical insulation and spray foam products.
Strategic Acquisition by TopBuild
The acquisition by TopBuild, a major player in the insulation and building materials sector, reflects the growing demand for quality insulation products. SPI, under Incline's guidance, has not only solidified its position in various markets but also expanded its operations significantly. This sale allows TopBuild to integrate SPI's advanced capabilities into their extensive service offerings.
Growth and Expansion of SPI
SPI, headquartered in Charlotte, North Carolina, has made a name for itself in supplying a diverse array of insulation products used in thermal, acoustic, and fire protection applications. With an impressive portfolio of SKUs and fabrication capabilities, SPI caters to contractors across commercial, industrial, residential, marine, and OEM sectors. The company operates through 102 facilities across the United States, Canada, and Australia, showcasing its strong distribution network.
Achievements During Incline's Partnership
Reflecting on the partnership with SPI, Michael Antonelli, Managing Director at Incline, noted, "We are proud that our collaboration with Ray Sears and the SPI team drove meaningful growth, more than doubling the Company's revenue in just over three and a half years." This remarkable growth was achieved through a series of strategic acquisitions—14 in total—adding significant capabilities and expanding SPI’s presence to include 43 locations globally.
Infrastructure Growth and Key Investments
Ray Sears, CEO of SPI, emphasized the transformative impact of Incline’s support, stating, "Our work with Incline strengthened our infrastructure and positioned us for rapid, scalable growth." Key investments during this period included forming a dedicated mergers and acquisitions team and enhancing the sales organization, setting up SPI for successful expansion throughout its operational regions.
About Incline Equity Partners
Incline Equity Partners has established itself as a leaders in private equity by focusing on middle-market investments across various sectors including services, value-added distribution, and specialized light manufacturing. Typically, Incline looks for growing companies with enterprise values ranging from $25 million to $750 million. Their investment strategy often involves facilitating ownership transitions for privately held firms, along with buyouts and corporate divestitures across the U.S. and Canada.
Frequently Asked Questions
What is the significance of Incline's sale of SPI?
The sale enhances SPI's growth potential under TopBuild while allowing Incline to focus on new opportunities.
How has SPI grown under Incline's ownership?
Under Incline’s leadership, SPI more than doubled its revenue and expanded internationally through numerous strategic acquisitions.
What types of products does SPI offer?
SPI offers mechanical insulation, building insulation, and spray foam insulation products used across various applications.
What does Incline Equity Partners specialize in?
Incline specializes in investing in middle-market companies, particularly in sectors like services and manufacturing.
How many facilities does SPI operate?
SPI operates 102 facilities in the United States, Canada, and Australia, showcasing its strong market presence.
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