Houston-based industrial distributor SBP Holdings announced Nov. 1 its acquisition of Central Hydraulics Inc., which operates five locations across Florida. Financial terms of the transaction were not disclosed. SBP Holdings ranked as the No. 2 Hose/Accessories Distributor and No. 36 Industrial Distributor in Modern Distribution Management’s 2022 Top Distributor list.
Founded in 1983, Central Hydraulics is a distributor of hoses and other products while also operating full-service hydraulic sales and repair shops. Central Hydraulics’ five locations in Daytona Beach, Cocoa, Leesburg, Ocala and Tampa will join SBP, according to a news release, expanding SBP’s U.S. footprint to approximately 85 locations and 1,000 employees. Central Hydraulics will operate within the Fluid Power Division of SBP.
“The Central Hydraulic team is the perfect partner for us as we enter the Florida market,” SBP CEO Craig Osborne said. “The team they have built, the products and services they offer and their 5 locations are a perfect complement to our business and culture.”
“Our Team has been proud to serve Florida for decades,” said Chris Chavez, who owns and operates Central Hydraulics alongside T.F. Strickland and Scott Stickland. “We are confident that this transition will benefit our employees as well as our customers by providing a stronger network and expanded offerings.”
Chavez and Scott Strickland will continue to manage the operation during the transition, according to the release, and plans are in place to expand the enterprise through “organic growth” and cooperation with other SBP Holding companies.