SBP Holdings – Hurricane Harvey Efforts and Relief Fund – UPDATE

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To:      Our Friends, Colleagues, Supplier Partners and Supporters

Of the 225 SBP Holdings employees in the Houston area, 42 were directly impacted; 12 of whom experienced significant damage to their property.  Many of these employees and their families were displaced from their homes for several days and personal property / vehicles were destroyed.

The “Go Fund Me” account created for donations to support the SBP Employees Hurricane Harvey relief effort generated a greatly appreciated outpouring of support.  The compassion and generosity of our co-workers, supplier partners, industry colleagues, Board members and our AEA Investors equity partners has been tremendous. We are pleased to announce that over $104k was collected.  These generous donations made it possible for us to provide assistance to all 42 employees impacted at Bishop Lifting Products, Delta Rigging & Tools and National Hose.

We are creating the SBP Holdings Foundation to continue our path of protecting our teammates in the event of future disasters and extend our outreach to protect our most valued assets.

On behalf of all the employees at SBP Holdings and especially the 42 families that received your donations, we would like to express our heartfelt thank you for your generosity.    We continue to appreciate and value your partnership and support!

Sincerely,

Electronic Signature of Don Fritzinger

 

 

 

Don Fritzinger

CEO

SBP Holdings – Hurricane Harvey Efforts and Relief Fund

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To: Our Friends, Colleagues, Suppliers and Supporters

Over 6 million people occupy roughly 2200 square miles of Houston and in the recent days we all have felt the wrath of Hurricane Harvey. With over 50” of rainfall in a matter of days the area has seen unprecedented flood levels and a potential overall cost estimated at $160B!

We continue to send our thoughts and prayers to everyone that has been affected by this tragic event. SBP Holdings, parent company of Bishop Lifting Products, Delta Rigging & Tools, National Hose & Accessory, and Morgan City Rentals has several locations within the affected area – the following is an update for our group:

National Hose & Accessory Prior to the storm making land a NHA text group was created to track all employees and their status. Several employees have been displaced and many have realized damage to their homes and vehicles. That said, by utilizing the text group, we were able to confirm that all team members were safe.

– NHA reopened for business on Wednesday, August 30th. In addition to reopening to customers in need, NHA is now working with local officials to utilize our location as a donation drop-off for supplies. We are currently in need of diapers, toys and non-perishable food.

– “I can’t express the pride I have in our team at National Hose! We were fortunate to only have minor damage to our Pasadena location. We are up and operational with employees that have already secured their family, friends, and homes. We stand ready to assist those in need and are very proud of all of our neighbors here on the gulf coast!”
– Mike Johnson – NHA GM

– Bishop Lifting Products Prior to the storm BLP management implemented a thorough communication plan including a phone number to call for updates as well as constant updates to the company Facebook page. During the storm, a daily internal email was sent to update employees. We have confirmed that our employees are safe, however, many have water damage to their homes and cars and a few have lost everything.

– The Houston BLP office reopened for business on Thursday, August 31. We are moving production to other locations and BLP locations are working together and utilizing inventory within our groups to minimize impact to our customers. Our goal is to do everything possible to help our customers meet project deadlines.
– “Thank you for your patience as our company returns to normal business. Our thoughts and prayers are with those that have been adversely affected. Our group will be organizing a way to contribute / assist those in need in the near future”
– Harold King – President BLP

SBP Holdings has established a dedicated relief fund to support the needs of its employees who have been adversely impacted by Hurricane Harvey and will match all donations made by SBP employees through September 22, 2017.

To make a confidential donation please visit https://www.gofundme.com/sbpblp-employees-flood-relief

Donations made to this initiative will go directly to SBP Holdings personnel affected by the storm. Your donations will help support these employees and their families through the challenges of recovering and rebuilding.

Our team at SBP Holdings appreciates your partnership and support. We will continue to monitor the situation at all our locations and will send out further updates as needed.
Sincerely,

Don Fritzinger
CEO SBP Holdings

Decentralized approach works for Singer – Rubber & Plastics News 2017

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Pete Haberbosch, Sam Petillo and Don Fritzinger stand wearing their NAHAD ID tags in promotion of their nationalized Onguard Hose Safety and Onguard Asset Management program, as well as Singer Equities decentralized approach at hose, conveyor belt and rubber distribution.SAN ANTONIO—For SBP Holdings, parent of rubber goods distributor Singer Equities Inc., it was a big deal when it boosted the size of its corporate staff by 33 percent.

That’s right, it went from three employees to four at the start of the year when it appointed Pete Haberbosch to the newly created post of vice president of business development. He will help find potential acquisition targets for Singer and also for Bishop Lifting, SBP Holdings’ other vertical business that focuses on goods and services for rigging and crane applications.

Haberbosch joined the CEO, chief financial officer and a controller as the only corporate employees for SBP—and they all work out of different locations.

But that’s not surprising because SBP and its verticals have stuck to a decentralized business approach as it has grown significantly, aided by 19 acquisitions made since 1999.

For example, the Singer Equities vertical has about 500 employees—roughly the same as Bishop Lifting—and operates from 38 locations that do business under 10 platform companies that have come to Singer through its string of purchases. Its operations boast more than 100 hydraulic crimpers, 642,000 square feet of facility space and hold $39 million worth of inventory, according to the firm’s website.

The Singer businesses serve a wide variety of markets, focusing on goods and services related to hydraulic, industrial, composite and metal hose; heavy and light weight conveyor belting; and rubber and metallic gaskets.

The organizational changes were prompted by the retirement late last year of Otis Dufrene from day-to-day operations, though he will remain active as chairman and a board member. That meant that Don Fritzinger moved up to Dufrene’s role as president and CEO of SBP Holdings, with Sam Petillo taking over Fritzinger’s prior role as Singer Equities president, and Haberbosch moving to his new position.

“We run very decentralized, but we’re in a position where we have this talent we’ve moved in over the years who have been a very quick learn and moved them into areas they can make decisions,” Fritzinger said.

One of Singer Equties’ main areas of business is supplying products and services related to conveyor belting.
Fritzinger, Petillo and Haberbosch spoke about the company, its reorganization and future plans during the recent NAHAD annual convention in San Antonio.

Drawing from manufacturing

Both Petillo and Haberbosch joined Singer Equities after careers on the manufacturing side of business, as have some other Singer Equities recruits in recent years.

Petillo joined in late 2013 after 16 years in manufacturing, first with Saint-Gobain focusing on plastics and silicone, and then 8½ years at Goodyear Engineered Products/Veyance Technologies dealing with industrial and hydraulic hose. Haberbosch was hired about six months later, following 10 years with Gates Corp. and six with Fenner.

Both ran a number of platform businesses within the group before taking on their current positions.

“They were individuals we knew and we felt very comfortable with,” Fritzinger said. “They just happened to be working for manufacturers. It wasn’t that we made a decision to raid the manufacturing ranks. We just wanted the right people.”

Petillo was brought in as a regional manager, but Fritzinger said they knew he wouldn’t be in that slot for long. “We did know that with Sam overseeing three operations and Pete overseeing two, they essentially got to learn the operations and the fiscal management of the business,” Fritzinger said. “That’s the fundamental blocking and tackling that’s necessary.”

Petillo said coming from a manufacturing atmosphere he could see things from a larger view. As the Singer Equities portfolio grew, he said Fritzinger needed somebody to come in from an operations standpoint and make things more efficient.

“We were operating in silos,” Petillo said. “We started benchmarking. We also started sharing some products, technologies and the talent within the organization. That’s why Don brought me in, so I could take that different viewpoint from the manufacturing sector, and bring that to the Singer Group.”

Haberbosch started his career as an engineer in the auto industry, but didn’t enjoy it. So he moved into sales and marketing from there. He noticed that when working for a large manufacturer you often have a team of people you manage on projects. “In distribution, I’ve gotten involved in so many different things—deeper into human resources, and payroll,” he said. “There aren’t a fleet of people to do things for you. So we as general managers at this level, it’s amazing what we get into, and that’s the big difference.”

Petillo added that distribution is far more complex than he expected. It’s not just managing the wide variety of products distributors have to sell, but also the supply chain aspect and relationships with vendors. “With an organization like Singer, it got more complex the more acquisitions we made,” he said. “We added new vendors, we added new sales talent and more inventory to manage in the different supply chains.”

For example, two of its more recent acquisitions—Unisource Manufacturing out of Portland, Ore., and Future Hydraulik Inc. headquartered in Laval, Quebec—both have their own private brand products. “That brought on two different private brands, new supply chain channels and a new channel to market,” Petillo said.

OnGuard service

One of Singer’s newer services is the OnGuard program, first developed about 1½ years ago for hose management, and launched earlier this year for conveyor belting.

OnGuard is about tagging, tracking and testing of hose and conveyor belting, Petillo said. “It’s a cradle-to-grave asset management system,” he said.

The service tracks how long a product has been in the field, but also has automatic alerts set up based on discussions with the end user on how long they want the hose or belt to be in use before it gets tested, re-certified or inspected. That is followed up with an inspection or on-site testing.

Singer provides products and services to the hydraulic and industrial hose industry.
Petillo said on the hose side more than 100 customers are using OnGuard, with more than 15,000 hoses being tracked. The customers mostly are focused on chemical, oil and gas, and food and beverage applications.

For belting, Singer already is tracking products for at least seven customers since the launch.

Sticking to business model

One thing Haberbosch will concentrate on in his new role is to search for a third vertical business to go along with Singer Equities and Bishop Lifting. One possibility, he said, is hydraulic repair.

In looking for potential acquisition targets, he said they asked the prior owners why they decided to sell to the SBP Holdings vertical. The results were what they hoped to hear: the owners didn’t want to see their brand go away and they wanted to make sure their employees were taken care of. “Several of them wanted to either invest in our team and continue to work, so we gave them that option as well,” Haberbosch said. “Flexibility is what we hear over and over, and most of them still work with us.”

Fritzinger said there are no plans to go away from the decentralized business model. He knows there are arguments to centralize a lot of business aspects, but he said Singer has been able to do some things in terms of purchasing power while still giving the field staff autonomy. In addition, they are using cloud-based, third-party software that gets financial reporting from all the 10 business platforms on the rubber side of the business within four days of the end of the month.

“We’ve built other pieces in place where we have total visibility into each other’s inventory,” Fritzinger said. “So we’ve overcome that where it’s no longer a potential weakness, but we view it as a strength.”

Petillo said while some larger firms spend on a headquarters and high-level management teams, SBP puts the funds into inventory to better service customers. In addition, some of the companies they have acquired come with a legacy of buying from certain vendors. And although they have the option to buy from any vendors within the Singer organization, the platform general managers aren’t forced to use specific suppliers.

And in meetings with suppliers during NAHAD, he said it was clear the suppliers were supportive of Singer, saying “Where you go, we go,” according to Petillo. “That’s not just a geography statement. It shows they’re aligned with our business strategy and they’ll support us through our acquisitions and growth.”

Looking forward, Fritzinger said certain portions of the business have been affected by the downturn in oil and gas, but the firm has diversified its end markets to the point where that sector now accounts for less than 10 percent of business.

He also looks for the mergers and acquisitions market to heat back up, both on the supplier/vendor and distribution sides of the business. Some potential acquisition targets delay selling when business tails off, waiting for valuations to recover.

“We’re in a position where we’re very patient,” Fritzinger said. “It’s something that’s a very emotional decision for someone. When they go to exit their business, we’re very sympathetic to that, and we can’t push that process.”

You can read the article here too. 

 

News from NAHAD

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The Singer Team joined with more than 900 industry professionals from around the world for NAHAD’s (National Association of Hose and Accessory Distributors) 33rd Annual Meeting and Convention. The event was April 1-6 at the spectacular J W Marriott Hill Country Resort in San Antonio, TX. We were able to attend a number of University of Industrial Distribution seminars including:

  1. Today’s Top Five Sales Fails…and How to Avoid Them!
    Jim Pancero
  2. How DO They Do That? Secret Tech Weapons for Work and Home
    Beth Ziesenis
  3. The Top Ten HR Challenges Looming this Year
    Nancye Combs
  4. Grow Your Business While Others Shrink
    Jim Pancero
  5. Attracting, Engaging and Retaining Millennials
    Nancye Combs

In addition to these seminars we met with several members from key supplier partners, took advantage of exceptional networking events and the met with many new potential suppliers at the powerful Showcase of Hose Solutions! We also take advantage of this event to have a company meeting where we review budgets, share best practices and share what we see in the future.

Being in Texas we also were able to finish the event and enjoy a “True Texas Experience” with a live rodeo and closing reception and dinner at Knibbe
Ranch

NAHAD continues to be a great resource for our team and the industry as a whole!

MANAGEMENT CHANGES WITHIN THE SINGER EQUITIES TEAM

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As Pete Haberbosch transitions to his new role as VP Business Development at SBP Holdings I am pleased to announce the following changes.

David Saunders will be promoted to General Manager of Hampton Rubber.  David has over 25 years of experience at Hampton Rubber and has held a variety of positions including Inside Sales, Sales Manager and most recently Branch Manager of the Norfolk, VA location.  David has a solid understanding of our business, our personnel, and our operations.  David will work closely with the Management Team at HRC and report to Scott Priestner – VP/GM Northeast of Singer Equities.

Norm Fye will be promoted to General Manager of Summers Rubber.  Norm has over 4 years of experience at Summers Rubber in the role of Operations Manager.  In this role Norm was able to quickly learn our systems and processes as well as our go to market strategy.  Norm will be supported by the Management Team at SRC and report to Sam Petillo – President of Singer Equities.

Both of these individuals have continued to advance through our organizations.  They will remain focused on our main objective of driving organic growth at their local companies.  In addition they will continue to support key Singer initiatives tied to margin improvement, group purchasing/in-sourcing, strategic pricing, building vendor relationships, logistics, operational efforts and working capital improvement.

Please join me in congratulating David and Norm!

Sam Petillo

President Singer Equities

Singer Equities, along with Bishop Lifting Products, are wholly owned subsidiaries of SBP Holdings, headquartered in Houston, TX and through its 53 locations provides industrial rubber and wire rope and rigging products and services to a broad range of industrial end markets throughout the United States and now Canada.  More information can be obtained at www.sbpholdings.com and www.singerequities.com.

 

SINGER EQUITIES ACQUIRES RUBBER SUPPLY COMPANY

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Singer Equities is pleased to announce its acquisition of Rubber Supply Co. in Morrisville, PA. Rubber Supply Co., founded in 1972 specializes in industrial hose and fittings, conveyor belting, sheet rubber and custom-cut gaskets, servicing the Greater Philadelphia region.
Rubber Supply Co. will continue to go to market utilizing their name and will operate as a division of RW Connection. Headquartered in Landisville, PA, RW Connection has eleven locations throughout six states, including Pennsylvania, New Jersey, Maryland, Virginia, North Carolina and Tennessee. Dave McGowan will continue as General Manager reporting to Scott Priestner, Vice President of Singer Equities.
“Dave has built a solid business in the region and we are excited to have his organization join our team,” said Scott. “We look forward to expanding our product lines, fabrication, installation and testing services; increasing our market share in the Philadelphia, Northern Delaware and Southern New Jersey areas.”
Singer Equities, along with Bishop Lifting Products, are wholly owned subsidiaries of SBP Holdings, headquartered in Houston, TX. Through its 54 locations, SBP provides industrial rubber, wire rope and rigging products and services to a broad range of industrial end markets throughout the United States and Canada. More information can be obtained at www.sbpholdings.com and www.singerequities.com.
Michele Dappert, Marketing Manager
Singer Equities
936 Links Ave
Landisville, PA 17538
717-898-5257 office
717-537-4261 direct
mdappert@rwconnection.com
www.rwconnection.com
###

SBP HOLDINGS MANAGEMENT ANNOUNCEMENT

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JANUARY 1, 2017—HOUSTON, TX—Pete Haberbosch is appointed to the position of Vice President/Business Development of SBP Holdings responsible for the marketing initiatives to drive organic growth, end market diversification and acquisition development for the organization.   Haberbosch held various sales and marketing positions within Gates Rubber Company and Fenner Corporation for 21 years before joining Singer Equities in 2014 where he has managed the Hampton Rubber and Summers Rubber business units.

SBP Holdings currently has 52 locations throughout the United States and Canada under its Singer Equities and Bishop Lifting business verticals with Singer specializing in industrial hose, hydraulic hose, conveyor belt and gasket fabrication and services and Bishop focusing on the fabrication, distribution and rental of wire rope, rigging and specialized rental equipment.

Congratulations to Pete!

More information can be found at www.sbpholdings.com, www.singerequities.com and www.lifting.com

 

SINGER EQUITIES ACQUIRES FUTURE HYDRAULIK, INC.

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Singer Equities has acquired Future Hydraulik, Inc. headquartered in Laval, Quebec, Canada.  The business, founded in 2005 by Richard Payette, Yves Renaud, Carol Deschênes and Yvan Audy is a distributor, fabricator and wholesaler of hydraulic hose, fittings, assemblies and fabrication equipment in Eastern Canada.  Richard will remain as VP/GM, along with Yves Renaud, Carol Deschênes and the 36 employees that will continue under the Future Hydraulik name.

Future Hydraulik serves distribution and OE customers in a diversified market base including industrial and automotive distribution, forestry, drilling, marine, construction, mining and agricultural.

“Richard and his team have built a profitable hydraulic hose and fittings business over the past 11 years and have earned a great reputation through their strong hydraulics product offering and dedication to customer service,” stated Sam Petillo, President of Singer Equities.  Adding, “We are very excited and proud to have Future Hydraulik join the Singer Equities team and expand our geographic footprint into Canada.  The addition of Future Hydraulik strengthens Singer’s hose and fitting product portfolio and further diversifies our customer and channel base.”  Payette said, “Through a partnership with Singer Equities we maintain our name, identity and the business model that enabled our growth over the past 11 years.  Singer’s hands-off management philosophy offers a seamless ownership transition without disrupting the service we provide to our customers or the work environment of our employees.  We will leverage their strength in the hose industry to expedite our growth in Canada.”

Singer Equities, along with Bishop Lifting Products, are wholly owned subsidiaries of SBP Holdings, headquartered in Houston, TX and through its 53 locations provides industrial rubber and wire rope and rigging products and services to a broad range of industrial end markets throughout the United States and now Canada.  More information can be obtained at www.sbpholdings.com and www.singerequities.com.

SBP Holdings: Announcing Management Changes

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September 1, 2016—Houston, Texas—SBP Holdings, with its Singer Equities and Bishop Lifting Products business units, is pleased to announce the following management changes:

Otis Dufrene has retired as President and CEO of SBP Holdings. He has been named Chairman of the Board and will remain active with acquisition activities of Singer Equities’ industrial rubber business and Bishop Lifting Products’ rigging and rental business.

Don Fritzinger, formerly President of Singer Equities, has been named President and CEO of SBP Holdings and will manage the operations of both business verticals.  Fritzinger, a 40-year veteran of the industry, joined Singer Equities in 2002 through an acquisition.

Sam Petillo, with 18 years of industry experience, formerly Director of Veyance Technologies Industrial and Hydraulic Hose business divisions and most recently a Vice President of Singer Equities, has been named President and CEO of Singer Equities. Singer has 37 locations nationwide and specializes in the industrial hose, hydraulic hose, conveyor belt and gasket material fabrication and services.

Harold King, with 24 years of industry experience with Bishop Lifting Products and most recently Vice President, has been named President and CEO of Bishop Lifting Products.  Bishop specializes in the fabrication, distribution and rental of slings, wire rope, hoists, and rigging products with 15 regional operations primarily in the Gulf Coast region.

More information can be found at www.sbpholdings.com, www.singerequities.com and www.lifting.com .

About SBP Holdings:
SBP Holdings is one of the nation’s leading specialty distribution groups focusing on the sale and rental of wire rope and rigging products through Bishop Lifting Products and the sale of industrial rubber products through Singer Equities. SBP Holdings is a portfolio company of AEA Investors based in New York City.  For more information, go to www.sbpholdings.com

Singer Appoints Group Vice President

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Singer Equities is pleased to announce the appointment of Pete Haberbosch as a group Vice President of Singer Equities.  Haberbosch joined the organization in 2014 as VP/GM of Singer’s Hampton Rubber business unit and has recently assumed an expanded role as VP/GM of the Summers Rubber platform as well.

Pete Haberbosch came to the Singer organization with 21 years industry experience in fluid power, industrial rubber and power transmission products with a mechanical engineering degree.  He spent eleven years with the Gates Rubber Company as a District Sales Manager, National Accounts Manager, Regional Sales Manager in the Northeastern U.S. and ultimately Director of the Gates Performance Group.  Thereafter over the next five years, Pete expanded his work experience globally as Vice President of Sales and Marketing of Fenner Precision and later in the same capacity at Fenner Drives headquartered in the Lancaster, PA area.

There is no question Pete has made a very positive impact on our organization with his background, energy and strategic abilities. We ask all associates to welcome him to this new position in our quest of further growth through acquisition and organic activities in the years ahead.

Donald S. Fritzinger

President