SBP Holdings Subsidiary Bishop Lifting Products Acquires Matex Wire Rope

Houston-based Bishop Lifting Products says the bolt-on acquisition fits its growth strategy to accelerate its position in the Texas and Louisiana markets.

HOUSTON β€” SBP Holdings, through its wholly owned subsidiary Bishop Lifting Products, has announced the recent acquisition of Matex Wire Rope, Inc. headquartered in Kilgore, TX. This bolt-on acquisition fits into Bishop Lifting Products growth strategy to accelerate its position in the Texas and Louisiana markets.

SBP is No. 30 on Industrial Distribution's Big 50 List.

Along with Delta Rigging & Tools and Morgan City Rentals, Matex Wire Rope is a quality addition to the SBP Holdings group of companies. For over 50 years, Matex has been a supplier of lifting solutions including: sling fabrication, wire rope & rigging hardware, fall protection, cable service, recertification and custom lifting solutions. With branches in Shreveport, LA, Pleasanton, TX, Alice, TX, and Midland, TX, the combined companies will now operate 20 branch locations throughout Texas, Louisiana, Oklahoma, Kansas and Colorado.

Matex provides sales, service and repair for all types of wire rope and cable, including, drill lines, sandlines, electromechanical cable (EWL) and other specialty cables. Matex’s specialty services include: Oilfield Wireline Spooling Services, Electromechanical Cable Splicing, Wireline Sheave repair, inspection and recertification.

β€œThe acquisition of Matex complements our overall wire rope and rigging offering so we can now provide additional services to the oil and gas industry," said Bishop president Harold King. "This investment represents an important strategic opportunity to offer high quality products and service operations in and around Texas and Louisiana. The acquisition also adds to our capacity and geographic presence to key market customers.”

Founded in 1984, Bishop Lifting Product is a fabricator and distributor of products, services and lifting solutions for crane, rigging, marine and oilfield applications. Along with its Delta Rigging & Tools and Morgan City Rentals companies, its 500+ dedicated employees throughout Texas, Louisiana, Oklahoma, Kansas, and Colorado supply wire rope, slings, rigging hardware, lifting devices, hoists and winches to customers with lifting, oilfield, towing and hauling applications.

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