AEA Investors, one of the oldest private equity groups in the U.S., has formed SB Holdings to combine Singer Equities with the acquisition of Bishop Lifting Products. Both groups provide high value added products used in the industrial distribution market sector.
Bishop Lifting Products, operating through eight locations, is engaged in the business of fabricating and distributing wire rope and synthetic slings, wire rope, rigging hardware and other lifting products and providing engineering, consulting, maintenance, repair, inspection, testing, certification, tracking, and steel fabrication services to the industrial marketplace, focusing on the energy sector.
Singer Equities, an AEA portfolio company, and its subsidiaries and affiliates are engaged in the business of distributing industrial rubber products including industrial, metal, and hydraulic hose and fittings, conveyor belting, gaskets, and other industrial products. Through its twenty two locations they also offer a full array of value added services which include fabrication, conveyor belt installation, gasket cutting, kitting, testing, tracking, and certification.
“Bringing these two groups together under one umbrella made sense when considering common customer types, economies of scale, and cross selling opportunities. Jeff Bishop will continue as president of Bishop Lifting Products and Don Fritzinger remains president of Singer Equities, with both groups continuing as independent entities executing on their respective strategies in their industries and taking advantage of the consolidation opportunities that are so prevalent in both spaces”, said Otis Dufrene, CEO of SB Holdings and a forty plus year veteran of the industry.