SBP Holdings acquires Catawba Industrial Rubber
SBP Holdings has acquired Catawba Industrial Rubber Company Inc. and Coastal Hose & Rubber Inc.
Catawba / Coastal will operate within the Singer Hose and Rubber Division of SBP Holdings. With this addition SBP Holdings will increase its North America footprint to approximately 78 locations with over 1,000 employees.
Catawba Industrial, established in 1963 has been owned and operated by husband-and-wife team Marvin (Skip) and Pam Bruce since 1999. The business operates from two locations in Charlotte, North Carolina (Catawba Industrial Rubber) and Wilmington, North Carolina (Coastal Hose & Rubber). Catawba Industrial calls itself the region’s leading expert in industrial hose, specialty gasket and industrial belting and clearly understands and responds to the urgency of customers’ requirements. The business operates in several key markets including general industrial, construction, chemical and resale.
Skip and Pam Bruce, who plan to retire within a year, will continue to manage the operation during the transition and plans are in place to expand the enterprise through organic growth and cooperation with other SBP Holdings companies.
“We have been proud to serve the Carolinas for decades. We are extremely confident that this transition will benefit our employees as well as our customers by providing the same excellent sales and service while providing a stronger network and expanded offerings,” said Skip Bruce. The Bruces were represented by Viking Mergers & Acquisitions.
“We are truly excited about teaming up with Skip, Pam and the team at Catawba Industrial to grow our presence in the Southeast," said Craig Osborne, SBP CEO. "Industrial hose and specialty gaskets continue to be a large addressable market with tremendous opportunity for growth and there is no question we have a solid base and the ability to expand.”
Singer Hose and Rubber Division president Sam Petillo added, “Skip, Pam and the Catawba Industrial team have built a profitable business by providing exceptional service to their diversified customer base. We are very excited to have them join our team.”
INDUSTRIAL SUPPLY MAGAZINE
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