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Company Updates

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.

SINGER EQUITIES ACQUIRES 4-STAR HOSE AND SUPPLY

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Singer Equities, Inc. has acquired 4-STAR Hose and Supply headquartered in Dallas, TX. 4-STAR Hose and Supply distributes and fabricates industrial hose, hydraulic hose, metal hose, composite hose, fittings, valves and pumps out of their locations in Dallas, Fort Worth, Midland, Pleasanton and Cleburne, Texas. The business was founded in 1983 and has been owned by Keith, Kelly and Brent Culhane since 1992. 4-STAR has 70 full-time employees and serves a diverse customer base in the oil/gas, steel, chemical and food, and beverage markets.

All three owners, who have been active in the business, will remain and the business will continue operating under the 4-STAR Hose and Supply name. “Keith, Kelly, Brent and their team have built a profitable business by providing exceptional service throughout Texas and the surrounding region”, stated Sam Petillo, President of Singer Equities. Kelly Culhane stated, “The team at 4-STAR Hose is excited to partner with Singer Equities. We’ll be able to leverage Singer’s scale and product offering to better serve our customers.” Brent Culhane added, “Being part of the Singer family will provide new growth opportunities for 4-STAR and our employees. The addition of our five locations will expand Singer’s footprint in Texas.”

Singer Equities, along with 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 and www.singerequities.com.

Sam Petillo Begins Term as NAHAD President

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Sam Petillo Begins Term as NAHAD President

Sam Petillo, president of Singer Equities Inc., was recently elected to serve as president of NAHAD, the Association for Hose and Hose Accessories Distribution.

NAHAD is the only trade association dedicated to the hose industry, whose mission is to promote quality, safety, and profitability amongst leading manufacturers and distributors. Petillo assumes the presidency after serving multiple leadership roles with the association, including on the executive committee, the board of directors, and numerous committees.

“I am honored to be a part of NAHAD and to serve as president this year,” said Petillo. “I served on the NAHAD board both as a manufacturer and a distributor, and I feel I bring a unique perspective on the value NAHAD provides related to networking, education, and most importantly, our commitment to hose safety and the Hose Safety Institute.”

Bishop Lifting Has Completed the Acquisition of Woods Logging and Industrial Supply

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Houston, TX – February 1, 2019 — Bishop Lifting Products completed the acquisition of Woods Logging and Industrial Supply based out of Longview, Washington.   Since 1978, Woods Logging has specialized in servicing the logging, marine and construction industries with spooling services, rigging products, wire rope and hydraulic solutions.

“Today’s announcement is continued support of our company-wide goal of geographic and end market diversification,” said Harold King, President of Bishop Lifting.  He continued, “Woods Logging has a long history of professional sales and service within the area, making them a great addition to our team.”

Mick White, President of Woods Logging, states, “We’re excited to join the Bishop Lifting and SBP Holdings family of companies and its large national footprint of companies focused on rigging, rubber and fluid power products.”

This growth will allow Bishop Lifting to continue to expand its national footprint to the Pacific Northwest. From on-site inspections to rigging services and wire rope delivery to marine terminals, Woods Logging provides high performance wire rope for cranes, as well as, wire rope and chain slings for the Logging, Maritime and Construction industries.

Bishop Lifting Products, along with Singer Equities and Dakota Fluid Power, are wholly owned subsidiaries of SBP Holdings, headquartered in Houston, TX and through its 86 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.lifting.com, www.singerequities.com, and www.dakotafluidpower.com

SINGER EQUITIES ACQUIRES QUALITY CONVEYOR SOLUTIONS

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February 1, 2019

SINGER EQUITIES ACQUIRES QUALITY CONVEYOR SOLUTIONS

Singer Equities, Inc. has acquired Quality Conveyor Solutions, LLC (QCS) headquartered in Roanoke, VA.  QCS provides conveyor belt, accessories and field services including installation and mobile maintenance out of their locations in Roanoke, Covington & Richmond, VA, Baltimore, MD, Rocky Mount, NC, and Kingsport, TN.  QCS serves multiple markets including aggregate, pulp and paper, power generation and cement.

The business, founded in 2016, will continue operating under the QCS name.  Owners Aaron Atwell, Bill Bettridge, Junior Purdue, Doug Stanley and Geoff Emery will continue in their key management roles.  Aaron Atwell will be Vice President and General Manager of QCS and merge operations with Virginia Carolina Belting, a division of Singer Equities based in Salem, VA.

Sam Petillo, President of Singer Equities, said “Aaron, Bill and their 37 employees have significantly grown the business in a short period of time.  We are excited to add their knowledge base and conveyor service experience to the Singer family.”  Aaron Atwell said “Unifying QCS and VCB, combined with Singer’s conveyor services out of RW Connection in Lancaster, PA will make us the strongest belt service company in the mid-Atlantic Region.”  Bill Bettridge, VP Mid-Atlantic Region added, “Singer provides us the right cultural fit and support to fuel our expansion in the region and beyond”.

Singer Equities, along with Bishop Lifting Products and Dakota Fluid Power, are wholly owned subsidiaries of SBP Holdings, headquartered in Houston, TX and through its 86 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 and www.singerequities.com.

Bishop Lifting Products Acquires Safeway Slings USA

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HOUSTON – (April 2, 2018) — Bishop Lifting has acquired Safeway Sling USA, a sling fabrication company headquartered in Greendale, Wisconsin. Safeway Sling USA is a manufacturer of 100% USA made nylon and polyester lifting slings as well as wire rope slings, chain slings, and tie-down assemblies that meet all WSTDA standards.

Safeway Sling USA, Inc. has a proven record of excellence in designing and fabricating 100% USA made lifting slings for 40 years and has gained recognition as the “Gold Standard” for overhead lifting slings.Harold King, President of Bishop Lifting Products, stated that “we are excited with the addition of Safeway Sling to our family of companies. Safeway Sling has a proven track record in our industry of supplying the highest quality synthetic slings with the highest level of service. They will make a great addition to our team.”

Sue Szymczak, President of Safeway Sling USA, added that “We feel that BLP is the ideal fit to carry on our legacy of excellence.”Along with manufacturing synthetic and metal lifting slings, Safeway provides certifying/recertifying services of overhead lifting assemblies with in-house ASTM E-4 calibrated testing capabilities. Bishop Lifting operates 70 test beds throughout their 21 locations with pull test capacities ranging from 100K-1500K metric tons.Bishop Lifting Products, along with Singer Equities, are wholly owned subsidiaries of SBP Holdings. Bishop Lifting is engaged in the fabrication, distribution and rental of wire rope, sling and rigging products and services. Singer Equities specializes in industrial hose, hydraulic hose, conveyor belt and gasket material fabrication and services.

The combined entity has 61 locations throughout North America with over 1080 employees.More information can be found at www.sbpholdings.com, www.safewaysling.com, and www.lifting.com.