Portec Group International, a manufacturer of conveyor belt turns and spirals and a portfolio company of Incline Equity Partners, has been sold to The Interroll Group. Incline Equity Partners (previously PNC Equity Partners) acquired Portec from Code Hennessy & Simmons in March 2005.
Portec Group International is a manufacturer of power belted turn and spiral conveyors and related parts for the airport baggage handling, distribution and warehousing, postage and parcel, and manufacturing industries. The company has an installed base of over 60,000 units, most of which were customized to exact customer specifications. Portec had revenues in 2012 of $20 million and is headquartered in Cañon City, CO (www.portec.com).
The Interroll Group is a global manufacturer of products for unit load handling systems, internal logistics and automation. Sectors served include airports, parcel and postal services, distribution centers and food processing facilities. The company has annual revenues of approximately CHF 300 million. The Interroll Group was founded in 1959 and is based in Sant’ Antonino, Switzerland (www.interroll.com).
Incline Equity Partners invests from $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 sectors including light manufacturing, value-added distribution, and business and industrial services. The firm was formed in 2011 and is based in Pittsburgh (www.inclineequity.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 6-14-13
