Bishop Lifting Products acquired by Altamont
02 February 2022
The BLP family of brands includes Delta Rigging and Tools, Morgan City Rentals, Matex, Woods Logging, American Wire Rope and Sling, Western Sling, and Louisiana Crane.
Altamont Capital Partners has completed its acquisition of Houston, TX-based Bishop Lifting Products (BLP) from SBP Holding. The transaction encompasses the entire BLP business, which distributes lifting products and solutions.
“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,” said Randall Eason, Altamont managing director. “As a market leader wit
h 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.”
BLP CEO Harold King said BLP is 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 as CEO of BLP going forward, and BLP will retain all its current employees.
Jefferies acted as financial advisor to Altamont. PricewaterhouseCoopers served as accounting advisor to Altamont for the transaction and Ropes & Gray and Morrison & Foerster served as their legal advisors.
Founded in 1984, BLP is one of the largest providers of wire rope, slings, rigging, and related products in the United States. The BLP family of brands includes Delta Rigging and Tools, Morgan City Rentals, Matex, Woods Logging, American Wire Rope and Sling, Western Sling, and Louisiana Crane. The company has 26 branches across the U.S.
Altamont Capital Partners is a private investment firm based in the San Francisco Bay Area with more than $4 billion of assets under management. Altamont is focused on investing in middle market businesses and to partner with leading management teams to help its portfolio companies reach their full potential, the company said.