Category: sbp holdings news

November 12, 2018 – Houston, Texas — SBP Holdings will acquire Dakota Fluid Power and subsidiaries with closing scheduled for December 3, 2018. The Dakota Fluid Power operation will form the platform foundation for SBP Holdings' entry into the Fluid Power repair and services industry. This will form a third business vertical within the holding company. Its verticals are 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 74 locations with over 1,300 employees.

Dakota Fluid Power (DFP) was established in 1991 by President, Rick Lindemann, and his partner, Vice President Mike Nelson. The headquarters for DFP is in Sioux Falls, SD. They have grown to 13 locations and 197 associates in the upper Midwest U.S. with operations in North and South Dakota, Nebraska, Minnesota, and Wisconsin. The DFP organization provides hydraulic and pneumatic components and machinery. Additionally, they provide service and repairs through its operations and subsidiaries Prairie Truck Equipment, Midway Machining, Engineered Products, Y2K Filtration, OEM Manufacturing, and ASI Hydraulics. DFP is the region’s leading hydraulic expert in a variety of industries. These include agriculture, on and off-highway construction, municipalities, utilities, waste, food processing, wind energy, mining, and oil and gas. Lindemann and Nelson will continue to manage the DFP operation and expand the enterprise through acquisition and organic means.

SBP President and CEO Don Fritzinger said, “We are truly excited about teaming up with Rick and Mike at DFP to enter the fluid power market. It is a large addressable market with tremendous opportunity for growth and there is no question we have the right team as a foundation.”

Rick Lindemann and Mike Nelson of DFP are excited about the opportunity SBP Holdings provides to continue to grow the foundation they have built. “We feel strongly that we have teamed up with the right group to continue DFP’s tradition of “Commitment to Customer Success”. SBP Holdings looks forward to the opportunity to expand our presence in the Fluid Power Industry. We are also eager to work with our fellow companies in the SBP group.

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, and www.dakotafluidpower.com.

Dakota Fluid Power will add 13 locations, 197 employees, and 230,000 square feet of warehouse space to the company.

March 1, 2018

Singer Equities, Inc. has acquired Foster Hose and Fittings headquartered in St. Louis, MO. The business was founded in 1928 and has been owned by Todd Sacco, Dale Schwartz, and Rick Freeman since 2007. Todd Sacco, who has been active in the business, will remain as Sales and Marketing Manager and the business will continue operating under the Foster Hose and Fittings name.
Foster Hose and Fittings is a distributor and fabricator of industrial hoses, metal hoses, silicone hoses, hydraulic hoses, fittings, and expansion joints. Foster serves a diverse customer base in the food and beverage, pharmaceutical, chemical, and industrial manufacturing markets, primarily in the Midwest region.

“Todd Sacco and his team have built a profitable business through servicing a high-end customer base with exceptional customer service and quality products and services”, stated Sam Petillo, President of Singer Equities. Adding, “We are very proud to welcome Foster to our team. This acquisition strengthens our core competence in industrial hose and expands our share in the food and beverage and chemical markets”. Todd Sacco said, “Singer provides the best cultural fit for Foster’s employees, customers, and growth strategies. We will continue to market our products and services under the Foster Hose and Fittings name and will strengthen our hose business through collaboration with the other Singer companies.”

Singer Equities, along with Bishop Lifting Products, are wholly owned subsidiaries of SBP Holdings, headquartered in Houston, TX, and through its 60 locations provides industrial rubber, wire rope, rigging 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.

February 1, 2018 — Singer Equities, Inc. has acquired Smith Industrial Rubber & Plastics Inc. headquartered in Rockford, Illinois.  Smith Industrial is a distributor and fabricator of hydraulic hose and fittings, conveyor belting, industrial hose, sheet rubber and die cut parts from plastic and rubber.  The business was founded in the 1940s as a division of Smith Oil Corp. who was a dominant distributor of petroleum, rubber products and select automotive parts through most of the 20^th century in the Rock River valley.  Current owners Scott Greenfield and Tom Rudnicki were originally salesmen for Smith Industrial Rubber.  Tom Rudnicki will remain as General Manager and will continue operating under the Smith Industrial Rubber and Plastics name.

“Scott Greenfield, Tom Rudnicki and their team have built a reputable rubber distribution business over the past 30 years and have earned that through their value-add product offerings and dedication to customer service”, stated Sam Petillo, President of Singer Equities.  Adding, “We are very excited and proud to have Smith Industrial Rubber & Plastics join the Singer Equities team and expand our geographic footprint into Illinois. The addition of Smith Industrial further diversifies our customer base.”  Rudnicki said, “Through this partnership with Singer we maintain our name, identity and business model that enabled Smith’s growth over the past 75 years. We plan to leverage Singer’s strength in the rubber industry to hasten the pace of our growth in the Midwest.”

Singer Equities, along with Bishop Lifting Products, are wholly owned subsidiaries of SBP Holdings.  Singer Equities specializes in industrial hose, hydraulic hose, conveyor belt and gasket material fabrication and services.  Bishop Lifting is engaged in the fabrication, distribution and rental of wire rope and rigging products and services.  The combined entity has 58 locations throughout North America with over 1050 employees.  More information can be obtained at www.sbpholdings.com and www.singerequities.com.

February 1, 2018—Houston, Texas

SBP Holdings is pleased to announce the appointment of Pete Haberbosch as company President. Due to this, he will be replacing Don Fritzinger, who will remain as CEO of the organization. Haberbosch joined the Singer Equities business vertical in 2014 as a Vice President of their Hampton Rubber and Summers Rubber businesses. Later, he was named a Vice President of Business Development for SBP Holdings. Furthermore, in this new role, Haberbosch will continue in the strategic acquisition pipeline development. In addition, he will also continue marketing efforts supporting the organic and acquisition growth of both business verticals. Prior to joining Singer, Haberbosch held a number of management roles for the Gates Corporation and Fenner.

Fritzinger commented “Pete brings a great deal of energy and diverse skill sets from his background in the […] industry over the past 25 years. Pete will help create a dynamic leadership team. This is alongside Sam Petillo, President of Singer Equities, Harold King, President of Bishop Lifting, and Craig Osborne, SPB Holdings Group CFO.”

Singer Equities specializes in industrial hoses, hydraulic hoses, conveyor belts, and gasket material fabrication and services. Whereas, Bishop Lifting is engaged in the fabrication, distribution, and rental of wire rope and rigging products and services. Ultimately, the combined entity has 58 locations throughout North America with over 1050 employees.

More information on the companies can be found at www.sbpholdings.com, www.singerequities.com, and www.lifting.com.