SBP Holdings to acquire Dakota Fluid Power
SBP Holdings announced that it will acquire Dakota Fluid Power and subsidiaries. The acquisition is scheduled to close Dec. 3, 2018.
The Dakota Fluid Power operation will form the platform foundation for SBP Holdings' entry into the fluid power repair and services industry. The move creates a third business vertical within the holding company along with its industrial rubber vertical, Singer Equities, and its rigging and rental vertical, Bishop Lifting Products.
With this addition SBP Holdings will increase its North America footprint to 74 locations with more than 1,300 employees.
Dakota Fluid Power was established in 1991 by president, Rick Lindemann, and his partner and vice president, Mike Nelson. The company is headquartered in Sioux Falls, South Dakota and has grown to 13 locations and 197 associates in the upper Midwest, with operations in North and South Dakota, Nebraska, Minnesota and Wisconsin.
The Dakota Fluid Power organization provides hydraulic and pneumatic components and machinery along with service and repairs through its operations and subsidiaries Prairie Truck Equipment, Midway Machining, Engineered Products, Y2K Filtration, OEM Manufacturing and ASI Hydraulics. DFP serves a variety of industries, including agriculture, on- and off-highway construction, municipalities, utilities, waste, food processing, wind energy, mining and oil and gas. Lindemann and Nelson will continue to manage the DFP operation and expand the enterprise through acquisition and organic means.
“We are truly excited about teaming up with Rick and Mike at Dakota Fluid Power to enter the fluid power market. It is a large addressable market with tremendous opportunity for growth and there is no question we have the right team as a foundation,” said Don Fritzinger, SBP president and CEO.
Lindemann and Nelson said they are excited about the opportunity SBP Holdings provides to continue to grow the foundation they have built. “We feel strongly that we have teamed up with the right group to continue DFP’s tradition of 'Commitment to Customer Success.' We look forward to the opportunity to expand our presence in the fluid power Industry. We are also eager to work with our fellow companies in the SBP group," they said.
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