NAHAD QuickConnect: August 1, 2012
News from NAHAD Members
NAHAD Member companies announce new acquisitions, new technology and new space:
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.
Flowline’s sales force is now state of the art. With the launch of Eaton’s Power Source, and strong leadership from owners Larry Blackburn and Greg Johnston, Flowline is ahead of the technology curve. Flowline has integrated Eaton’s iPad ap technology into their sales process; giving faster, clearer information consistently. Their service will continue to grow in effectiveness and efficiency thanks to Eaton’s thorough integration and well-rounded ap – Power Source. Flowline’s sales team will surpass customer’s expectations with knowledgeable, informative, and proactive responses. Flowline believes that increasing their technological stance by utilizing the functionality of this ap will improve their customer’s product knowledge, encouraging accuracy throughout the purchasing process, which is ultimately mutually beneficial.
Piranha® Hose Products, Inc. proudly announces their recent move into a new 40,000 sq. ft. addition to their present manufacturing plant. With continued growth in mind, Piranha® will utilize the added space for additional manufacturing equipment and improved warehousing, to provide better service with shipments to their customers. As Piranha® continues to grow in their current and new product markets; more space was needed for additional manufacturing equipment to keep up with the demand for high pressure thermoplastic hoses. The initial ground breaking ceremony took place in May 2011.
For more information on Piranha Hose Products, call (231) 779-4399 or visit their web site at: www.piranhahose.com
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