Bishop Lifting Products, Inc. is Acquired by Altamont Capital Partners from SBP Holdings
Altamont Capital Partners (Altamont) today announced the completion of its acquisition of Houston-based Bishop Lifting Products, Inc. (BLP) – a market-leading, value-added distributor of lifting products and solutions – from SBP Holdings. The deal includes the whole BLP business.
Altamont’s strategy is to invest in companies with excellent business ideas and great teams that have huge growth potential.
Altamont has tremendous expertise partnering with middle-market companies such as BLP, assisting management and offering resources to help them develop and flourish.
“We are thrilled to join with the BLP team to solidify their position as a leading value-add distributor of lifting and rigging products and position the company for near- and long-term success,” Randall Eason, Managing Director at Altamont stated.
“As a market leader with a strong core product and service offering, a track record of successfully integrating prior acquisitions, and a world-class team, the partnership between BLP and Altamont is a great fit.”
“We are excited by this partnership and look forward to working with Altamont to strengthen and grow our business,” added Harold King, CEO of BLP.
“We are in a great position to build and improve upon the areas of our business that are already thriving as we continue to provide excellent service and products for all of BLP’s clients.”
As part of the transaction, King will continue to serve as CEO of BLP in the future, and the company will retain all of its current workers.
“The partnership between Altamont and BLP will allow us to build from the robust foundation that has already been laid by Harold and the rest of the team.”
“We’re excited to support BLP’s current operations while also looking to grow stronger through adding new customers, end markets, and capabilities, including through the pursuit of strategic acquisitions,” Chase Beeler, Principal at Altamont added.
Altamont’s financial advisor was Jefferies, LLC. Altamont’s accounting advisor for the deal was PricewaterhouseCoopers, LLC, and their legal consultants were Ropes & Gray, LLC and Morrison & Foerster, LLC.