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.