SBP Holdings — a provider of inspection and testing services, repairs and specialized rental activities — completed its sale of Houston-based Bishop Lifting Products, Inc., a group of value-added distributors of lifting products and specialty rental equipment.
Bishop Lifting Products was sold to Altamont Capital Partners. Financial details were not disclosed.
The transaction includes the entire BLP business. Following the transaction, SBP Holdings will be comprised of two divisions with significant organic and acquisition growth opportunities: Industrial Hose & Rubber and Fluid Power & Automation, the company said.
The leadership team for SBP Holdings will remain unchanged.
“This transaction enables us to focus and align our attention and efforts on our two core businesses and markets. Both the Industrial Hose & Rubber and Fluid Power & Automation divisions have natural customer and vendor overlap and synergies, and we look to continue aggressive acquisitions in those segments to accelerate growth,” said Craig Osborne, CEO of SBP Holdings. “I thank Harold King and the entire Bishop Lifting team for their contributions to the SBP platform over the years and wish them continued success as they move forward with their new partner.”