Incline Equity Partners Finalizes Sale of Specialty Products and Insulation Assets

Incline Announces Sale of Specialty Products and Insulation

Incline Equity Partners, a prominent player in private equity focused on the middle market, has officially declared the sale of Specialty Products and Insulation (SPI) to TopBuild, a notable installer and distributor in the insulation and building material sector. This strategic move showcases Incline's commitment to helping companies thrive through partnerships that foster growth.

SPI, headquartered in Charlotte, NC, is recognized for its mechanical insulation and spray foam capabilities. The acquisition by TopBuild marks a significant step forward for the company, which specializes in a diverse array of insulation products tailored for thermal, acoustic, and fire protection applications. SPI's extensive inventory and technical fabrication capabilities uniquely cater to the demands of contractors across various sectors, including commercial, industrial, residential, and marine markets. With 102 distribution facilities scattered throughout the United States, Canada, and Australia, SPI's reach is substantial.

Michael Antonelli, a Managing Director at Incline, expressed pride in the partnership with SPI, highlighting that the collaboration has yielded impressive results, including more than doubling the company's revenue in just over three and a half years. Throughout this period, SPI has successfully completed 14 acquisitions, significantly enhancing its capabilities and expanding its operational footprint with 43 additional locations and an extended global presence.

Ray Sears, CEO of SPI, reflected on the fruitful partnership with Incline, indicating that the support provided by Incline was crucial for expanding SPI's infrastructure and setting the stage for rapid growth. Early investments in key hires, such as a dedicated mergers and acquisitions team and an improved sales organization, have been central to SPI's successful expansion trajectory.

About Incline Equity Partners

Incline Equity Partners is a distinguished private equity firm specializing in middle-market investments across various sectors, including services, value-added distribution, and specialized light manufacturing. The firm's primary focus is on identifying growing businesses with enterprise values ranging from $25 million to $750 million. Incline is known for orchestrating ownership transitions for privately held companies, as well as facilitating buyouts and corporate divestitures within the United States and Canada.

This recent transaction underscores Incline's ability to drive value in its portfolio companies while advancing the interests of stakeholders involved. The firm's approach has been crucial in strengthening companies and positioning them for sustainable growth in the competitive market landscape.

Incline’s strategic decisions and investments continue to play a pivotal role in the evolution of businesses within its portfolio, demonstrating a commitment to excellence and growth in the private equity space.