Key Takeaways
- • Incline Equity Partners, Pittsburgh's largest private equity firm, has sold Edko, a portfolio company it owned since June 2021, to L Squared Capital Partners of Newport Beach, California.
- • Incline grew Edko roughly fourfold during its ownership period, according to the Pittsburgh Business Times.
- • Financial terms of the transaction were not disclosed.
- • Edko, founded in 1961 and headquartered in Bossier City, Louisiana, provides herbicide-based vegetation management services for utility, pipeline, refinery and renewables customers.
Summary
Incline Equity Partners, which the Pittsburgh Business Times describes as Pittsburgh's biggest private equity firm, has sold Edko, a portfolio company it has owned since June 2021. According to the report, Incline grew the business fourfold over that period. The buyer is L Squared Capital Partners, based in Newport Beach, California. Neither party disclosed financial terms.
Edko, founded in 1961 and based in Bossier City, Louisiana, provides vegetation management services that help utility, pipeline, refinery and renewables customers maintain safety and reliability around critical infrastructure. Its offerings are described as non-discretionary and recurring, and can be tailored to job-site requirements. Services include herbicide application, light mechanical vegetation control, contract forestry and fire mitigation. The company also deploys a proprietary drone program to support these services.
The transaction reflects a typical private equity exit in which a sponsor realizes value after a multi-year hold period. The primary source does not provide valuation, multiple, or return figures for the deal.
Edko, founded in 1961 and based in Bossier City, Louisiana, provides vegetation management services that help utility, pipeline, refinery and renewables customers maintain safety and reliability around critical infrastructure. Its offerings are described as non-discretionary and recurring, and can be tailored to job-site requirements. Services include herbicide application, light mechanical vegetation control, contract forestry and fire mitigation. The company also deploys a proprietary drone program to support these services.
The transaction reflects a typical private equity exit in which a sponsor realizes value after a multi-year hold period. The primary source does not provide valuation, multiple, or return figures for the deal.
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