Private Equity Firm Financial Services

Incline Equity Partners

Pittsburgh, PA, United States

Middle-market private equity firm based in Pittsburgh with an office in New York City. Invests in services, value-added distribution, software & technology, and specialized light manufacturing companies (enterprise value ~$25M-$750M).

Focus Areas
Private equity (middle-market), Value-added distribution, Software & technology

Tracked deals

84

84 tracked deals across 2011-2026.

Recent pace

5

5 tracked deals announced in the last 12 months.

Deal mix

Buyout

41 buyout · 36 addon · 5 recapitalization

Incline Equity Partners Acquisition Volume by Year

Last 8 years

Acquisition volume by year Annual acquisition counts for the last 8 years for Incline Equity Partners. 9 2019 11 2020 15 2021 17 2022 13 2023 8 2024 6 2025 ~5 est. 4 2026
Actual Full-year estimate

Supporting Data

Recent Transactions

Showing the 12 most recent of 84 tracked deals for Incline Equity Partners.

  • Buyer
    Incline Equity Partners
    Target
    The Conrad Company (TCC)
    Type
    Buyout

    Incline Equity Partners invested in The Conrad Company, a value-added distributor and service provider of fluid power, motion control, automation, and related industrial products. The deal terms were not disclosed, and TCC plans to invest in sales and technical teams while expanding into adjacent product and service categories through organic growth and strategic acquisitions.

  • Buyer
    West Physics Consulting, LLC, Incline Equity Partners
    Target
    Radiographic Testing Services, Inc.
    Type
    Addon

    West Physics Consulting, LLC has acquired Radiographic Testing Services, Inc., an Albany, New York provider of medical physics services including diagnostic radiology and nuclear medicine testing, radiation oncology, and CRESO (radiation equipment safety officer) support. The acquisition adds an Albany field office and expands West Physics’s coverage across New York and surrounding regions.

  • Buyer
    NovaVision, LLC, Incline Equity Partners
    Target
    Graphic Communications, Inc.
    Type
    Addon

    NovaVision, LLC acquired Graphic Communications, Inc. to expand its printing, die-cutting, and security label capabilities and broaden its labeling solutions portfolio for a global customer base. Graphic Communications specializes in custom high-quality printing and converting solutions, including variable data printing and serialization.

  • Buyer
    Incline Equity Partners, Donny Barstow & MCCi management team
    Target
    MCCi, LLC
    Seller
    Century Park Capital Partners

    Incline Equity Partners has made a majority investment in MCCi in partnership with CEO Donny Barstow and the MCCi management team, while Century Park Capital Partners transitions its ownership position. The transaction is a recapitalization intended to support MCCi’s continued growth in GovTech and its suite of enterprise content management and workflow automation solutions for state and local governments; financial terms were not disclosed.

  • Buyer
    Incline Equity Partners
    Target
    Advanced Solutions International (ASI)
    Industry
    Software
    Type
    Buyout

    Incline Equity Partners has made a private equity investment in Advanced Solutions International (ASI), a cloud engagement-management software provider serving associations, trade unions and nonprofit organizations. Incline will partner with ASI’s management team to support product expansion, innovation and continued growth of ASI’s iMIS and complementary cloud offerings.

  • Buyer
    Creative Science, CIMA Animal Health, Incline Equity Partners
    Target
    Infiniti Medical LLC, Orthomed UK Ltd
    Industry
    Medical Devices
    Type
    Addon

    Creative Science, a CIMA Animal Health company (portfolio company of Incline Equity Partners), has acquired Infiniti Medical LLC and its subsidiary Orthomed UK Ltd. The deal adds veterinary interventional radiology, cardiology, soft-tissue surgery and orthopedic products and training capabilities to Creative Science's animal health platform to accelerate product innovation, manufacturing scale and educational programs for veterinarians.

  • Buyer
    Incline Equity Partners
    Target
    Command Investigations
    Seller
    Monument MicroCap Partners, LLC
    Type
    Buyout

    Incline Equity Partners has acquired Command Investigations, a national provider of insurance investigative services headquartered in Lake Mary, Florida, from Monument MicroCap Partners. Incline plans to accelerate growth through additional M&A, expand the company’s service offerings and invest in infrastructure to support Command’s national platform.

  • Buyer
    AquaPhoenix Scientific, Incline Equity Partners
    Target
    La-Mar-Ka, Inc.
    Seller
    La-Mar-Ka family owners
    Industry
    Manufacturing
    Type
    Addon

    AquaPhoenix Scientific, a portfolio company of Incline Equity Partners, acquired La-Mar-Ka, Inc., a family-owned chemical supplier based in Baton Rouge, Louisiana. The add-on acquisition, which closed January 31, 2025, expands AquaPhoenix’s distribution and custom-chemical capabilities and strengthens its offerings for industrial, laboratory and research customers.

  • Buyer
    Incline Equity Partners
    Target
    Mostardi Platt
    Type
    Buyout

    Incline Equity Partners has made a private equity investment in Mostardi Platt, a U.S.-based provider of environmental air testing, emissions monitoring and compliance services. The partnership will support Mostardi Platt's growth through investments in technology, infrastructure and geographic expansion to better serve utility, cement and other industrial customers across North America.

  • Buyer
    Incline Equity Partners
    Target
    Edko
    Seller
    Mike Vasko
    Type
    Buyout

    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.

  • Buyer
    Specialty Products & Insulation (SPI), Incline Equity Partners
    Target
    Florida Spray Foam
    Type
    Addon

    Specialty Products & Insulation (SPI), a portfolio company of Incline Equity Partners, has acquired Florida Spray Foam to expand its spray foam and insulation distribution presence in Central and South Florida. The add-on acquisition will leverage SPI's technology and operations capabilities to drive operational improvements and broaden product availability for FSF's customers and suppliers.

  • Buyer
    VMG Health, Incline Equity Partners
    Target
    Carnahan Group
    Type
    Addon

    VMG Health, a healthcare consulting firm and portfolio company of Incline Equity Partners, has acquired Tampa-based Carnahan Group. Carnahan Group's algorithm-driven FMV-MD platform and NeedsMD specialty needs technology will be integrated into VMG Health's Physician Compensation and Strategic Consulting divisions to expand the firm's tech-enabled solutions for hospitals, medical groups, and surgical facilities.

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