Gabriele Barr

Glen Burnie, MD      September 7, 2012

Singer Equities has acquired Industrial and Marine Equipment Co., Inc. with headquarters in New Orleans, Louisiana. Industrial and Marine, founded in 1947, is a leading distributor of hydraulic and pneumatic components to the oil and gas, marine and industrial marketplace in the Gulf Coast Region.  Services include hydraulic hose, industrial hose, metal hose and expansion joint fabrication, certification and testing.  The company will continue to operate as Industrial and Marine Equipment and will be a part of Spartan Industrial Products with locations in Belle Chasse, Houma, Broussard and Golden Meadow, Louisiana.

Singer Equities is a group of value added distributors of industrial rubber products and services and as a result of the merger with Bishop Lifting Products, which specializes in the distribution of lifting and rigging products, testing and fabricating services, recently formed SBP Holdings LP, the parent company. SBP Holdings LP with 30 locations throughout the country serves the construction, oil/gas, marine, defense, food, agricultural and specialized OEM industries providing intricate assembly, testing, certifications, field inspection and installation services in high pressure and critical service applications.  Singer Equities President Don Fritzinger said “Industrial and Marine Equipment provides a strong strategic fit for our organization and we are pleased Paul Haworth, Daniel Haworth and their entire team will remain with our growing organization.”

For further information please visit www.singerequities.com and www.lifting.com.

July 18, 2012—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.

For more information,  please contact Jeff Bishop at 713-674-2266, Don Fritzinger at 717-808-9425, or Otis Dufrene at 443-831-6357.