The Halifax Group has acquired BCI Burke, a designer and manufacturer of commercial playground equipment, from Incline Equity Partners which acquired the company in December 2014. The management team of BCI Burke will retain a meaningful equity position in the company under Halifax ownership.
BCI Burke’s products include playground and park equipment such as climbers, slides, swings, park furniture and sports equipment. The company sells its products to municipal parks & recreation departments, schools, daycares, churches, apartment complexes, childcare centers and children’s museums. BCI Burke, led by CEO Michael Phelan, is headquartered in Fond du Lac, WI (www.bciburke.com).
“We are delighted to join forces with Halifax to execute our shared strategy for success,” said Mr. Phelan. “Their extensive financial and operational resources, and their proven ability to work alongside management teams, will be invaluable as we introduce new products, move into new territories, and focus on building our business.”
“We are enthusiastic about Burke’s differentiated platform in the growing commercial playground market,” said Scott Plumridge, a Partner at Halifax. “We believe the company is poised for continued expansion due to an increasing focus on healthy play options for children and adults. We’re pleased to bring our expertise and resources to the Burke business.”
The Halifax Group invests from $25 million to $75 million of equity in companies with EBITDA from $5 million to $30 million. Sectors of interest include information management, specialty distribution, and transportation and logistics. The Halifax Group has offices in Washington, DC; Dallas and Raleigh (www.thehalifaxgroup.com).
Incline, the seller of Burke, invests from $15 million to $30 million in support of recapitalizations, buyouts and corporate divestitures of lower middle market companies that have EBITDAs greater than $5 million and enterprise values between $30 million and $150 million. Sectors of interest include value-added distribution, specialized light manufacturing, and business and industrial services. Incline was formed in 2011 and is based in Pittsburgh (www.inclineequity.com).
This transaction is the third realization for Incline’s third fund, Incline Equity Partners III, LP, which closed in August 2013 with just over $300 million of capital. In January 2017, Incline held a final close of Incline Equity Partners IV, LP with $601 million of total capital commitments.
© 2017 Private Equity Professional | June 9, 2017