Incline Equity Partners, a Pittsburgh-based private equity firm, has acquired Foundation Source, a national provider of comprehensive support services to private foundations. The partnership with Incline should position Foundation Source to expand its services, expertise and online capabilities, fueling its long-term growth.
Based in Fairfield, Connecticut, Foundation Source has been serving the market for nearly 20 years. The company provides its services to more than 1,600 family, corporate and professionally staffed foundations, of all sizes, nationwide. Foundation Source works in partnership with wealth management firms, law firms, accounting firms and family offices, as well as directly with individuals and families.
“The company has a compelling value proposition that leverages proprietary client-facing and back-end software along with foundation management expertise,” Incline Partner Joseph Choorapuzha said, in a statement. “There is substantial opportunity for future growth, including further penetration of the foundation market while entering new markets and adding expanded service capabilities.”
Incline generally seeks growing companies with enterprise values of $25 million – $450 million. Incline’s typical investment types are ownership transitions for privately held businesses, buyouts and corporate divestitures within the U.S. and Canada.