December 20, 2022 – Blue River Financial Group has advised Jon-Don, leading national equipment and consumables supplier and a portfolio company of Incline Equity Partners, on the recent acquisition of CRT Industrial Equipment. The CRT acquisition adds to Jon-Don’s extensive knowledge and product selection within the restoration, concrete surface, and industrial cleaning supply markets.

Established in 1978, Jon-Don now has multiple distribution centers located throughout the United States. The group serves industries ranging from water and fire restoration, concrete surface prep and polishing, building service/janitorial, carpet cleaning, and more. Jon-Don gives specialty contractors and in-house service providers across multiple industries everything they need to keep things clean, safe, and looking their best.

CRT Industrial Equipment, located in Houston, TX, services industrial cleaning equipment needs in Houston, TX and surrounding areas. CRT specializes in new and used equipment sales, rental machines, and experienced service on all brands of sweepers and scrubbers.

“We are excited to join the Jon-Don team. We have been very impressed with the people and commitment to customers, and I’m looking forward to further building upon the solid reputation we’ve earned in this industry,” said Tim Wells, owner and founder of CRT Industrial Equipment.

“Jon-Don is committed to being the first choice for specialized contractors tasked with solving complex problems,” said Matt Tharp, Chief Financial Officer at Jon-Don.

Christopher Caron, Managing Director at Blue River, stated “CRT and Jon-Don were excellent strategic and cultural fits that will really drive exponential growth in the Houston area for both organizations.”

“It’s been a pleasure to work alongside the Jon-Don/Incline Equity team in supporting Jon-Don’s acquisitive growth. Jon-Don brings an outstanding value proposition to owners considering an equity partnership. We love to be a part of win-win outcomes such as these, and look forward to supporting the team’s continued success,” said Sara Clevenger, Principal of Blue River.

Incline Equity Partners, headquartered in Pittsburgh, Pennsylvania, is a private equity firm investing in manufacturing, distribution, and business services companies, generally seeking to invest in growing companies with enterprise values of $25 – $750 million. Incline’s typical investment types are ownership transitions for privately held businesses, buyouts and corporate divestitures within the U.S. and Canada.


Sara Clevenger

About Blue River

Blue River Financial Group is a middle market merger and acquisition advisory firm headquartered in Bloomfield Hills, Michigan. It assists corporations, private equity groups and individuals in the sale and acquisition of businesses, and has completed assignments in multiple business segments. With over 20 years of experience spanning across 50 global industries, Blue River provides a suite of services to middle market clients including corporate development, private equity support, valuations and transaction consulting, placing a premium on relationship-centered transaction counsel and client focus.

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