DALLAS, TX — SBP Holdings announced Feb. 1 that it has completed 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.
SBP was No. 24 on Industrial Distribution's 2021 Big 50 List.
“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.
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. The company's primary objective is providing 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. The company's philosophy is to allow business leaders to remain and operate the businesses, affording them a tremendous level of responsibility, authority and autonomy.