Monthly Archives

March 2018

SBP Holdings Announces Formal Creation of SBP OnGuard Foundation

By | Company Updates

We are pleased to announce the formal creation of our SBP OnGuard Foundation which would provide funding to designated  associates in the event of a declared natural disaster with contributions and distributions compliant under 501 (c) (3) of the Internal Revenue Code.  The process would allow all contributions to go to individuals affected without income tax consequences and allow donors to deduct contributions for tax purposes.

In an effort to keep administration expenses to a minimum and meeting all non-profit, non-stock corporation mandates, our company will accrue for funding into the account and in the event of such a declared natural disaster, fund the account and open the Foundation for outside contributions to be made and promptly distributed to those in need.

The outpouring of support for our associates adversely affected by Hurricane Harvey in Houston provided the impetus for this SBP OnGuard Foundation.

Thank you very much for the support of those in need.

 

Sincerely,

Donald S. Fritzinger

SINGER EQUITIES ACQUIRES FOSTER HOSE AND FITTINGS

By | Press Releases

Singer Equities, Inc. has acquired Foster Hose and Fittings headquartered in St. Louis, MO.     The business was founded in 1928 and has been owned by Todd Sacco, Dale Schwartz and Rick Freeman since 2007.   Todd Sacco, who has been active in the business, will remain as Sales and Marketing Manager and the business will continue operating under the Foster Hose and Fittings name.

Foster Hose and Fittings is a distributor and fabricator of industrial hose, metal hose, silicone hose, hydraulic hose, fittings and expansion joints.  Foster serves a diverse customer base in the food and beverage, pharmaceutical, chemical and industrial manufacturing markets, primarily in the Midwest region.

“Todd Sacco and his team have built a profitable business through servicing a high-end customer base with exceptional customer service and quality products and services”, stated Sam Petillo, President of Singer Equities.  Adding, “We are very proud to welcome Foster to our team.  This acquisition strengthens our core competence in industrial hose and expands our share in the food and beverage and chemical markets”.  Todd Sacco said, “Singer provides the best cultural fit for Foster’s employees, customers and growth strategies.  We will continue to market our products and services under the Foster Hose and Fittings name and will strengthen our hose business through collaboration with the other Singer companies.”

Singer Equities, along with Bishop Lifting Products, are wholly owned subsidiaries of SBP Holdings, headquartered in Houston, TX and through its 60 locations provides industrial rubber, wire rope, rigging products and services to a broad range of industrial markets throughout North America. More information can be obtained at www.sbpholdings.com and www.singerequities.com.