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Company Updates

SBP Holdings is Joining Forces With Catawba & Coastal

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SBP HOLDINGS IS JOINING FORCES WITH CATAWBA INDUSTRIAL RUBBER COMPANY, INC. AND COASTAL HOSE & RUBBER, INC.

August 31, 2022 — Dallas, Texas

On Wednesday, August 31, 2022, SBP Holdings joined forces with 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, NC (Catawba Industrial Rubber) and Wilmington, NC (Coastal Hose & Rubber).  Catawba Industrial is 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, 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.

Skip Bruce said, “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.”  Skip and Pam were represented by Viking Mergers & Acquisitions.

SBP CEO Craig Osborne said, “We are truly excited about teaming up with Skip, Pam, and the Team at Catawba Industrial to grow our presence in the Southeast.  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.”

SBP Holdings accelerates business with industrial solutions by providing hose, rubber, belt, fluid power and automation products and services throughout North America.

More information can be provided by viewing www.sbpholdings.com, www.singerequities.com, http://catawbarubber.com

SBP Holdings Acquires HydraFab LLC

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 SBP Holdings acquired Hydrafab LLC on Tuesday March 1, 2022. Hydrafab will operate within the fluid power / automation platform (Dakota Fluid Power) for SBP Holdings. The fluid power / automation vertical of SBP Holdings is one of two platform businesses along with its Industrial Rubber vertical (Singer Equities). With this addition SBP Holdings will increase its North America footprint to approximately 70 locations with over 1000 employees. 

Hydrafab LLC was established in 2007 by Founders Mark and Amy Hlad, operates from one location in Green River, WY with approximately 14 team members. Hydrafab provides repair services, fabrication and sales for all types of hydraulic products including pumps, valves, and cylinders. Hydrafab is a leading expert in repair in the mining operations of WY and clearly understands and responds to the urgency of customers’ requirements. Key markets include mining, construction equipment and in plant systems. The Hlad’s will continue to manage the Hydrafab operation and expand the enterprise through organic growth and cooperation with other SBP Holdings companies. 

SBP CEO Craig Osborne said, “We are truly excited about teaming up with Mark and Amy and the Team at Hydrafab to continue to expand our fluid power offering and geographic footprint. Fluid Power continues 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.” Dakota Fluid Power President Rick Lindemann added “We are looking forward to having the Hydrafab Team join our Fluid Power group! Their reputation and business model of providing fast turnaround and quality service to their customers, aligns very well with the other companies in our platform.” 

Mark Hlad said, “I feel strongly that we have teamed up with the right group to continue the Hydrafab tradition of supporting customers.” 

SBP Holdings provides mission critical components, systems, inspection and testing services and repairs throughout North America. More information can be provided by viewing www.sbpholdings.com, www.singerequities.com, www.dakotafluidpower.com. 

SBP Holdings Sells Bishop Lifting Products, Inc. to Altamont Capital Partners

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Dallas, TX – SBP Holdings completes the sale of Houston-based Bishop Lifting Products, Inc (BLP) – 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.

“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.

About SBP Holdings

Singer Equities, Inc. and Dakota Fluid Power, Inc. are wholly owned subsidiaries of SBP Holdings, headquartered in Dallas, TX.  SBP Holdings is a group of value-added distributorships in the industrial rubber, hose, fluid power, and automation industries.  Our primary objective is to provide mission-critical components to a broad range of industrial markets throughout North America.  SBP is focused on organic expansion and the acquisition of well-managed businesses where significant operating changes are not necessary.  We believe that good companies are the result of good management.  Our philosophy is to allow business leaders to remain and operate the businesses, affording them a tremendous level of responsibility, authority, and autonomy.

SINGER EQUITIES ACQUIRES OB&E RUBBER COMPANY

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SINGER EQUITIES ACQUIRES OB&E RUBBER COMPANY
Singer Equities, Inc. has acquired OB&E Rubber Company, headquartered in Jeffersonville, IN. OB&E Rubber provides heavy-duty conveyor belts, accessories, and field services including installation and conveyor maintenance out of their Indiana location. OB&E serves multiple markets including power generation, aggregate, recycling and resell.

The business, founded in 1952 and in its third generation of ownership, will continue operating under the OB&E Rubber name. Owners Nathan and Joe Endris will continue in their key management roles. “OB&E expands Singer’s footprint and potential in the Midwest, which complements the company’s conveyor service in the Mid-Atlantic and Northeast”, said owner Nathan Endris. Joe Endris added, “We believe partnering with Singer Equities is the best decision for our company, employees, and culture.”

Craig Osborne, SBP Holdings CEO stated, “OB&E’s customer-centric focus will help strengthen our ability to service new and existing customers in the Midwest region.” Sam Petillo, President of Singer Equities, added “We are excited to add OB&E’s decades of knowledge, product expertise, and conveyor installation experience to the Singer family.”

Singer Equities, along with Bishop Lifting Products and Dakota Fluid Power, are wholly owned subsidiaries of SBP Holdings, headquartered in Dallas, TX. With this addition, SBP Holdings will increase its North American footprint to 95 locations with over 1,300 employees. SBP Holdings provides mission-critical components, inspection and testing services, repairs, and specialized rental activities throughout North America. More information can be provided by viewing www.sbpholdings.comwww.singerequities.comwww.lifting.comwww.dakotafluidpower.com

SBP HOLDINGS TO ACQUIRE WATTS STEAM STORE / WATTS MACHINE

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SBP HOLDINGS TO ACQUIRE WATTS STEAM STORE / WATTS MACHINE

December 1, 2021 — Dallas, Texas

SBP Holdings has acquired Watts Steam Store and subsidiaries on Wednesday, Dec 1, 2021.  Watts Steam Store will operate within the fluid power/automation platform (Dakota Fluid Power) for SBP Holdings.  The fluid power/automation platform is the 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 approximately 100 locations with over 1,300 employees.

Watts Steam Store, established in 2004 by owners Tracy & Stanley Watts, operates from three locations in Twin Falls and Idaho Falls, Idaho, and Ogden Utah with approximately 35 team members.  Watts Steam Store provides sales and repair services for all types of hydraulic products including hose, pumps, cylinders, and filtration, and manufactures, sells, and services a full line of industrial pressure washing equipment.  Watts Steam Store is the region’s leading expert in repair and clearly understands and responds to the urgency of customers’ requirements in several key markets including agriculture, construction, mobile equipment, and in-plant systems.  Watts will continue to manage the Watts Steam Store operation along with his brother Stanley Watts and expand the enterprise through organic growth and cooperation with other SBP Holdings companies.

SBP CEO Craig Osborne said, “We are truly excited about teaming up with Tracy and Stanley and the Team at Watts to continue to expand our fluid power offering and geographic footprint.  Fluid Power continues 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.”  Dakota Fluid Power President Rick Lindemann added “We are looking forward to having the Watts Team join our Fluid Power group!

Their reputation and business model of providing quality parts and service to their customers aligns very well with Dakota Fluid Power.”

Tracy Watts said, “I feel strongly that we have teamed up with the right group to continue the Watts Steam Store tradition of supporting customers.  We have a current relationship with companies within the SBP Holdings group and we look forward to expanding that over time.”

SBP Holdings provides mission-critical components, inspection and testing services, repairs, and specialized rental activities throughout North America.  More information can be provided by viewing www.sbpholdings.com, www.singerequities.com, www.lifting.com, www.dakotafluidpower.com.

 

 

 

THE ONGUARD FOUNDATION HELPING THOSE IMPACTED BY HURRICANE IDA

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A Message From SBP Holdings CEO, Craig Osborne

Last week our Louisiana team experienced a true disaster with Hurricane Ida. First of all, we are fortunate that all employees are safe and accounted for.  Our team in Louisiana is a group of truly amazing and resilient people.  Some have been working extra time to check-in, protect and take care of company property, even though their own property has been damaged.  Our people have incurred water and wind damage to homes, cars, and many other personal possessions. For many, this past Labor Day weekend was most likely not spent at a barbecue, but instead was spent working on a dry place to live and picking through possessions to salvage pieces of their pre-hurricane lives.

Many of you have asked how they can help those fellow employees in need.  As you may know, The SBP OnGuard Foundation was created as a tax beneficial tool (Tax ID/EIN and receipt will be provided) for contributors to help SBP employees that have already given us so much. If you would like to contribute to help the 25+ directly impacted employees begin to rebuild their homes and lives, please find the link below.  SBP is donating $35,000 and will match any employee contributions in excess of that amount.  Collectively we will come together in the days and weeks ahead to support those impacted by the storm because no one in this organization should feel alone in times such as this.

Thank you,

IF YOU WOULD LIKE TO DONATE

Any donations given to the OnGuard Foundation are going right to the families that need it the most. Please utilize the button below to visit our dedicated OnGuard Foundation Venmo account. If you prefer, you can also send a check to the following address:

SBP OnGuard Foundation

10704 Composite Dr

Dallas, Texas   75220

SBP HOLDINGS TO ACQUIRE KENCO HYDRAULICS

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June 2, 2021 — Dallas, Texas 

SBP Holdings has acquired Kenco Hydraulics and subsidiaries on Tuesday, June 1, 2021.  Kenco Hydraulics will operate within the fluid power/automation platform (Dakota Fluid Power) for SBP Holdings.  The fluid power/automation platform is the 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 approximately 100 locations with over 1,300 employees.  

Kenco Hydraulics, established in 1989 by President Ken Veit, operates from a single location in Hatfield, PA with approximately 19 team members.  Kenco Hydraulics provides sales and repair services for all types of hydraulic products including hose, pumps, cylinders, and filtration.  Kenco Hydraulics is the regions leading expert in repair and clearly understands and responds to the urgency of customers’ requirements in several key markets including construction, mobile equipment, and in-plant systems.  Veit will continue to manage the Kenco Hydraulics operation and expand the enterprise through organic growth and cooperation with other SBP Holdings companies.     

SBP CEO Craig Osborne said, “We are truly excited about teaming up with Ken and the Team at Kenco Hydraulics to continue to expand our fluid power offering and geographic footprint.  Fluid Power continues 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.”  Dakota Fluid Power President Rick Lindemann added “We are looking forward to having Kenco Hydraulics join our Fluid Power group! 

Their reputation and business model of providing quality parts and service to their customers aligns very well with Dakota Fluid Power.” 

Ken Veit said, “I feel strongly that we have teamed up with the right group to continue Kenco Hydraulics tradition of supporting customers in the PA and NJ markets and beyond.  We have a current relationship with companies within the SBP Holdings group and we look forward to expanding that over time.” 

SBP Holdings provides mission-critical components, inspection and testing services, repairs and specialized rental activities throughout North America.  More information can be provided by viewing www.sbpholdings.comwww.singerequities.comwww.lifting.comwww.dakotafluidpower.com.   

CRAIG OSBORNE NAMED PRESIDENT & CEO OF SBP HOLDINGS

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CRAIG OSBORNE NAMED PRESIDENT & CEO OF SBP HOLDINGS

 

MARCH 18, 2021—HOUSTON, TEXAS

The Board of Directors of SBP Holdings is pleased to announce the appointment of Craig Osborne as the organization’s next President and CEO.  Osborne is a proven leader with broad industry experience including 8 years within SBP.  Since joining SBP in 2013, he has held various senior roles, including VP & CFO, and most recently as the company’s VP & COO.  Osborne holds an MBA from Northwestern University and a bachelor’s degree from Brigham Young University with prior experience at Thermo Fisher Scientific, McKesson, and Hewlett Packard.  Don Fritzinger, company President, and CEO since 2016, is now SBP’s Chairman and will remain engaged with the business and industry.

Osborne stated, “I am honored and energized by the opportunity.  We have a fantastic team and business model in place.  I look forward to continue growing organically and through opportunistic acquisitions.”

 

About SBP Holdings

Singer Equities, Bishop Lifting Products, and Dakota Fluid Power are wholly owned subsidiaries of SBP Holdings, headquartered in Houston, TX, and through its 95 locations and over 1,300 employees, they provide industrial rubber, wire rope, rigging, fluid power products, and services to a broad range of industrial markets throughout North America. More information can be obtained at www.sbpholdings.com, www.singerequities.com, www.lifting.com, and www.dakotafluidpower.com.

SBP Holdings Completes Refinancing Transaction

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SBP Holdings Completes Refinancing Transaction

October 15, 2020

SBP Holding L.P. (“SBP” or the “Company”), a leading industrial distribution platform offering a diverse portfolio of highly engineered products and services to a broad range of customers and end markets, together with certain of its subsidiaries, is pleased to announce that it has completed a refinancing transaction co-led by Atlantic Park Strategic Capital Fund, L.P. (“Atlantic Park”) and The Carlyle Group’s Global Credit platform (“Carlyle”). Carlyle acted as administrative agent. Concurrent with the closing of the transaction, the Company also extended the maturity of its existing revolving credit facility to October 2025. Proceeds from the transaction will be used to fully refinance the Company’s existing indebtedness and provide the Company with capital to support future growth and acquisitions.

The Company was formed in 2012 in conjunction with Singer Equities’ acquisition of Bishop Lifting Products. Since 2012, SBP has completed over 25 acquisitions and has transformed into a national platform.

“We’re extremely excited to partner with Atlantic Park and Carlyle during this next chapter of growth,” said Michael Geist, Chief Financial Officer. “The facility supports our strong balance sheet and financial position. Importantly, the structure also provides additional flexibility and, with the further support of our majority owner AEA Investors, enables SBP to be well-positioned to continue executing our growth strategies as global economies recover.”

Jefferies LLC acted as sole financial advisor to SBP and Fried, Frank, Harris, Shriver & Jacobson LLP as its legal advisor. Davis Polk & Wardwell LLP and Kirkland & Ellis LLP served as legal advisors to Atlantic Park and Carlyle, respectively.

Financial details were not disclosed.

About SBP Holdings

Singer Equities, Bishop Lifting Products and Dakota Fluid Power are wholly owned subsidiaries of SBP Holdings, headquartered in Houston, TX and through its 92 locations provides industrial rubber, wire rope, rigging, fluid power products and services to a broad range of industrial markets throughout North America. More information can be obtained at www.sbpholdings.com, www.singerequities.com, www.lifting.com and www.dakotafluidpower.com.

About Atlantic Park

Atlantic Park is a strategic joint venture between General Atlantic, a global growth equity firm established 40 years ago, and Iron Park Capital Partners, a deeply experienced credit-focused asset manager. Atlantic Park provides capital solutions to address financing needs for high-quality companies seeking a trusted partner. Atlantic Park takes a broad industry focus and partners with companies spanning a number of sectors, including Consumer, Financial Services, Healthcare and Technology, with a focus on companies in the United States and Europe.

About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $221 billion of assets under management as of June 30, 2020, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,800 people in 31 offices across six continents. Further information is available at www.carlyle.com. Follow The Carlyle Group on Twitter @OneCarlyle.

Carlyle’s $50 billion Global Credit investment platform provides financing solutions that span the credit spectrum: liquid credit, illiquid credit and real assets credit. Since 1999, the group has provided creative solutions for borrowers and delivered attractive risk-adjusted returns for investors by drawing on the deep credit expertise and disciplined underwriting capabilities of our over 160 investment professionals and by leveraging the resources and industry expertise of Carlyle’s global network.

About AEA

AEA Investors LP was founded in 1968 by the Rockefeller, Mellon and Harriman family interests and S.G. Warburg & Co. as a private investment vehicle for a select group of industrial family offices with substantial assets. AEA has an extraordinary global network built over many years which includes leading industrial families, business executives and leaders; many of whom invest with AEA as active individual investors (“Participants”) and/or join its portfolio company boards or act in other advisory roles. Today, AEA’s approximately 80 investment professionals operate globally with offices in New York, Connecticut, London, Munich and Shanghai. The firm manages funds that have approximately $15 billion of invested and committed capital including the leveraged buyouts of middle market companies and small business companies and mezzanine and senior debt investments. AEA Private Equity invests across three sectors: value added industrials, consumer, and services.

 

COVID-19 Update

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THE HEALTH AND SAFETY OF EVERYONE REMAINS OUR TOP PRIORITY.  

Like all of you, we are assessing the situation surrounding Coronavirus (COVID-19) and its impact on our business and industry. Please be assured we are committed to maintaining our high level of service, while protecting the health of our employees, our customers and our community. We want to let you know that as of this date we have not had any significant disruption in our supply chain or our ability to service our customer’s requests, orders or shipments.

We continue to carefully reviewed the local, state and federal directives and guidance related to the COVID-19 crisis.  At this time we remain an essential business that must continue its operations.  Our work is critical to ensure continuity of its service and support of essential infrastructure and essential businesses, including health care facilities, food and beverage processing facilities, hospitals, lab facilities, industrial facilities such as municipal water and wastewater treatment facilities that have critical reliance on safe, clean, reliable water.

Besides monitoring the situation, we are also taking the following active measures to reduce the impact to our customers:

  • We are following all recommended strategies issued by the CDC to keep our employees safe and healthy, including allowing employees to work from home whenever possible and rotating shifts to limit person-to-person contact.
  • We are asking our suppliers and customers to limit their visits to our facilities whenever possible as we are committed to maintaining a safe working environment for all of our employees.
  • We are in constant communication with our suppliers in China and Japan to ensure we react immediately to any disruption in our supply chain.
  • We remain readily available to help you address any specific concerns. Our Inside Sales and Outside Sales teams, Service Departments, Accounting and Shipping Departments are all functioning without disruption.
  • We will employ available technologies to provide remote assistance wherever possible.
  • We will remain proactive and update you as necessary.  Please send us an email or call us with any concerns or questions you may have.

In these unique times, our company and our Team joins with everyone to support our community and neighbors. We appreciate your business and understanding during this global health emergency.