BlackArch Partners is pleased to announce that SBP Holdings, a portfolio company of AEA Investors, has completed the sale of its Bishop Lifting Products, Inc. division, to Altamont Capital Partners.
BLP, headquartered in Houston, TX, is a leading value-added distributor and fabricator of lifting products and solutions, including equipment, wire rope, slings and rigging. Over the course of the company’s nearly 40-year history, BLP has systematically built a market-leading lifting solutions platform that serves a highly fragmented and growing customer base through value-added capabilities and technical service expertise. As the industry’s premier lifting solutions provider, BLP is well positioned to benefit from continued sector-wide consolidation and favorable economic tailwinds driving growth in the industry.
Harold King, Chief Executive Officer of BLP, commented, “BlackArch did an awesome job representing our business at every step of the sale process. They worked closely with our team to develop a deep understanding of Bishop’s unique business model and also brought strong industry knowledge and experience to the table. Their thoughtful positioning, impressive process management and the around-the-clock support from each member of the BlackArch team yielded a great outcome for Bishop, and we are excited to partner with Altamont to continue growing our business.”
SBP made the decision to separate the BLP division so it could focus on growing its two core business lines, Hose & Rubber and Fluid Power & Automation. These two divisions have natural customer and vendor overlap, and SBP is well positioned to achieve significant organic and acquisition growth opportunities across both divisions.
BlackArch was retained by SBP and AEA to serve as the Company’s exclusive financial advisor. The transaction builds upon BlackArch’s significant momentum in the specialty distribution and industrial services sectors and is a further example of the firm’s focus on providing unique, tailored M&A advisory services to market-leading businesses.
About Bishop Lifting Products
Founded in 1984, BLP is one of the largest providers of wire rope, slings, rigging and related products in the United States. Bishop's dedicated employees help leading companies across all industries solve their lifting and industrial needs. Presently, there are 26 strategic branches located across the country that allow customers to have the advantage of accessing Bishop's large breadth of products from any location. In addition to Bishop, the BLP family of brands includes Delta Rigging and Tools, Morgan City Rentals, Matex, Woods Logging, American Wire Rope and Sling, Western Sling and Louisiana Crane. To learn more, visit www.lifting.com.
About SBP Holdings
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. 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. To learn more, visit www.sbpholdings.com.
About AEA Investors
AEA Investors LP was founded in 1968 by the Rockefeller, Mellon and Harriman family interests and S.G. Warburg & Co. as a private investment vehicle for a select group of industrial family offices with substantial assets. AEA has an extraordinary global network built over many years which includes leading industrial families, business executives and leaders; many of whom invest with AEA as active individual investors and/or join its portfolio company boards or act in other advisory roles. Today, AEA’s approximately 100 investment professionals operate globally with offices in New York, Stamford, San Francisco, London, Munich and Shanghai. The firm manages funds that have over $14 billion of invested and committed capital including the leveraged buyouts of middle market companies and small business companies, growth capital and mezzanine and senior debt investments. AEA Small Business is a strategy within AEA that currently manages ~$2 billion of invested and committed capital. The team seeks to help grow and transform companies at the lower end of the middle market by sponsoring growing companies with proven management teams and superior business models. To learn more, visit www.aeainvestors.com.
About Altamont Capital Partners
Altamont Capital Partners is a private investment firm based in the San Francisco Bay Area with more than $4.0 billion of assets under management. Altamont is focused on investing in middle market businesses where it can partner with leading management teams to help its portfolio companies reach their full potential. The firm's principals have significant experience building business success stories across a range of industries, including consumer, restaurants & multi-unit, financial services, healthcare, industrials and business services. To learn more, visit www.altamontcapital.com.
About BlackArch Partners
BlackArch Partners is a leading middle market investment bank offering a full spectrum of advisory services to financial sponsors, private companies and diversified corporations. BlackArch addresses the needs of owner-operators, founders and shareholders of private companies with specialized services that include M&A advisory, strategic advisory and private capital solutions. Headquartered in Charlotte, NC, BlackArch features a total of 12 industry-focused practices that cover all sectors of interest to middle market investors. BlackArch professionals have closed more than 400 transactions in 16 countries on four continents. To learn more, visit www.blackarchpartners.com.
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