After selling off a key business unit early year, SBP Holdings has bulked up since.
SBP — a family of distribution companies in the fluid power and industrial rubber markets — announced Aug. 2 that it has completed a merger with Mattson Distribution Company, a supplier of pressure washing equipment with one location in Boise, Idaho. It will operate within the Fluid Power & Automation Division of SBP Holdings, which now has approximately 70 locations and over 1,000 employees in its North America footprint.
Mattson was Established in 1957 and owned and operated by husband-and-wife team Gary and Susie Mattson. SBP says Mattson is “the region’s leading expert in repair and clearly understands and responds to the urgency of customers’ requirements in several key markets including agriculture, construction, mobile equipment and in-plant systems.”
The Mattsons will continue to manage the operation during the transition, and SBP said plans are in place to expand the enterprise through organic growth and cooperation with other SBP Holdings companies.
“We have been proud to serve the Treasure Valley over the past 65 years and are extremely confident that this transition will benefit our customers as well as our employees by providing the same excellent sales and service while providing a stronger network and expanded offerings,” Gary Mattson said.
SBP CEO Craig Osborne said, “We are truly excited about teaming up with and Gary and Susie and the Team at Mattson to grow our presence in the rapidly growing Boise market,” SBP CEO Craig Osborne said. “Fluid Power continues to be a large addressable market with tremendous opportunity for growth and there is no question we have a solid base and the ability to expand.”
In February of this year, SBP sold its Bishop Lifting Products group of companies to private equity group Altamont Capital Partners, which consolidated SBP to its current two core business units: Fluid Power and Industrial Rubber. On March 1, SBP acquired HydraFab, a Green River, Wyoming-based provider of repair services, fabrication and sales for all types of hydraulic products. SBP also made three acquisitions in 2021 following a refinancing transaction that completed in October 2020.