Incline Equity Partners Acquires Starwest Botanicals

Incline Equity Partners Invests in AquaPhoenix Scientific

August 10, 2021

Manufacturing

Pittsburgh-based private equity firm Incline Equity Partners has partnered with AquaPhoenix Scientific, a Hanover, Pennsylvania-based value-added distributor and private-label manufacturer of water treatment testing products and education kits. Incline intends to support AquaPhoenix’s growth and platform consolidation strategy by investing in technology and operational improvements to accelerate expansion and pursue add-on opportunities.

Incline Equity Partners Recapitalizes Wholesale Supplies Plus

July 16, 2019

E-Commerce

Pittsburgh-based private equity firm Incline Equity Partners has partnered with management to recapitalize Wholesale Supplies Plus (WSP), a distributor of raw materials and supplies for soap, cosmetics and candle makers. The investment will support capacity expansion, new product introductions and pursue acquisitions to accelerate growth.

EQT and CPPIB Acquire Majority Stake in Waystar from Bain Capital

July 29, 2019

Healthcare Services

The EQT VIII Fund and Canada Pension Plan Investment Board (CPPIB) agreed to acquire a majority equity stake in Waystar, a cloud-based revenue cycle management provider, in a transaction valuing the company at $2.7 billion. Bain Capital Private Equity will retain a minority stake and will continue to support Waystar alongside the new investors to fund continued innovation and transformative M&A.

Frontenac Acquires Monterey Bay Spice Company

January 11, 2021

Food & Beverage

Chicago-based private equity firm Frontenac has acquired Monterey Bay Spice Company (HerbCo), a Watsonville, California-based processor and distributor of botanicals, herbs, teas, essential oils, seasonings and spices, from its founder. Frontenac said it will invest in strategic growth initiatives, add complementary capabilities and work with food industry veteran Bob Aiken (appointed Executive Chairman) to expand Monterey Bay's market penetration across nutraceutical, food & beverage, and health & beauty end markets.

The Riverside Company Invests in Western Botanicals

February 12, 2026

Food & Beverage

The Riverside Company has made a growth investment in Western Botanicals, a Spanish Fork, Utah-based contract development and manufacturing organization (CDMO) of vitamins, minerals and supplements. Riverside will partner with management — which retains a meaningful ownership stake — to support organic growth, expand product and format capabilities, and pursue an M&A strategy to broaden Western Botanicals' capabilities.

Incline Equity Partners Acquires Edko

January 3, 2025

Environmental Services

Pittsburgh-based private equity firm Incline Equity Partners has acquired Edko, a Bossier City, Louisiana-based provider of herbicide-based vegetation management and outsourced forestry services. Incline said it intends to support Edko’s growth through geographic expansion and M&A, with debt financing provided by Twin Brook Capital Partners.