Incline’s Accredited Labs Gets $300 Million to Continue Growth
October 24, 2025|John McNulty
Incline Equity Partners has closed a single-asset continuation vehicle for Accredited Labs, a provider of calibration and repair services for test and measurement equipment. The continuation fund was heavily oversubscribed and closed with $300 million in capital commitments.
Accredited Labs’ services are used in industries that require high levels of accuracy, traceability, and compliance such as life sciences, aerospace, semiconductor, and general manufacturing sectors. The company’s services include ISO/IEC 17025-accredited calibrations, equipment repairs, instrument certifications, and documentation services tailored to regulatory requirements. (ISO/IEC 17025-accredited means a testing or calibration laboratory has been independently verified to meet international standards for technical competence, quality management, and reliable results.)
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Incline’s investment strategy was to consolidate the fragmented industry and maximize the sector’s recurring revenue business model which is driven by rigorous technical standards and the necessity for accredited laboratories—typically those certified under ISO/IEC 17025—to ensure measurement accuracy, traceability, and reliability across regulated end markets.
According to IMARC Group, the calibration services industry continues to expand steadily, with the global calibration services market projected to grow from $6.2 billion in 2024 to $9.2 billion by 2033, reflecting a compound annual growth rate (CAGR) of approximately 4.5 %.
Incline launched the platform in June 2023 with the buy of Dallas-based Aldinger Company. In December 2023, Accredited Labs completed its first add-on acquisitions with Oklahoma-based Huston-DePue Calibration Laboratories and Texas-based Tescom Calibration. In March 2024, it acquired Idaho-based Instrument Technologies, Utah-based Utah Scale Center, Oregon-based Cal-Cert, and Tennessee-based Precision Calibration Systems.
Later in 2024, Accredited Labs added Ohio-based Cal-Tec PM in April; Missouri-based J&J Calibration Services and Arkansas-based OnCal in July; Ohio-based Cal-Labs, Ohio-based OCS Technologies, and Oklahoma-based Quality Control Services in August; Michigan-based Servo Innovations in September; and Alabama-based Quality Surveillance in December.
Incline continued the consolidation in 2025 with the acquisitions of Pennsylvania-based Calibration Services in February; Washington-based Washington Calibration and Washington-based CMG Sales in March; Maryland-based ETI Precision in June; Arizona-based Trident Calibration Labs and Nevada-based Holts Precision in July; and Illinois-based Accutek Lab and North Carolina-based IPM Calibration in August.
“Our first continuation vehicle provides the capital needed to support Accredited Labs through its next phase of growth, while allowing us to extend our ownership of a strong platform,” said Jack Glover, a managing partner at Incline.
“We plan to continue scaling the company by further expanding its geographic footprint and service capabilities while executing additional strategic M&A,” said Eric Haufler a managing director at Incline.
Incline Equity invests in North America-based companies with enterprise values of $25 million to $750 million. Sectors of interest include services, value-added distribution, and specialized light manufacturing. In January 2025, the firm announced the above-target final closing of Incline Ascent Fund II LP (Ascent II), with $500 million in committed capital. In October 2023, Incline closed its sixth fund, Incline Equity Partners VI LP, with $1.9 billion of capital. The Pittsburgh-based firm was formed in 2011 and is led by its Managing Partner Jack Glover and Senior Partner Leon Rubinov.
Incline Equity Partners has closed a single-asset continuation vehicle for Accredited Labs, a provider of calibration and repair services for test and measurement equipment. The continuation fund was heavily oversubscribed and closed with $300 million in capital commitments.
“Our first continuation vehicle provides the capital needed to support Accredited Labs through its next phase of growth, while allowing us to extend our ownership of a strong platform,” said Jack Glover, a managing partner at Incline.
