SBP Holdings sells Bishop Lifting Products
SBP Holdings has sold Houston-based Bishop Lifting Products Inc. (BLP) to Altamont Capital Partners.
BLP is a group of value-added distributors of lifting products and specialty rental equipment.
The transaction encompasses the entire BLP business. Following the transaction SBP Holdings will be comprised of two divisions with significant organic and acquisition growth opportunities: Industrial Hose & Rubber and Fluid Power & Automation. Singer Equities Inc. and Dakota Fluid Power Inc. are wholly owned subsidiaries of SBP Holdings, headquartered in Dallas.
“This transaction enables us to focus and align our attention and efforts on our two core businesses and markets. Both the Industrial Hose & Rubber and Fluid Power & Automation divisions have natural customer and vendor overlap and synergies, and we look to continue aggressive acquisitions in those segments to accelerate growth,” said Craig Osborne, CEO of SBP Holdings. “I thank Harold King and the entire Bishop Lifting team for their contributions to the SBP platform over the years and wish them continued success as they move forward with their new partner.”
Following the transaction Osborne will remain CEO of SBP Holdings and the leadership team will remain unchanged.
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