August 3 - SBP Holdings, through its wholly owned subsidiary Bishop Lifting Products, has acquired Kilgore, USA-based, Matex Wire Rope.
SBP says this is a bolt-on acquisition that fits into Bishop Lifting Products' growth strategy to accelerate its position in Texas and Louisiana markets.
Along with Delta Rigging & Tools and Morgan City Rentals, Matex Wire Rope is a further addition to the SBP Holdings group of companies.
For over 50 years, Matex has supplied lifting solutions including: sling fabrication, wire rope and rigging hardware, fall protection, cable service, recertification and custom lifting solutions.
With branches in Shreveport, Louisiana, as well as Pleasanton, Alice, and Midland in Texas, the combined companies will now operate 20 branch locations throughout Texas, Louisiana, Oklahoma, Kansas, and Colorado.
"The acquisition of Matex complements our overall wire rope and rigging offering so we can now provide additional services to the oil and gas industry. This investment represents an important strategic opportunity to offer high quality products and service operations in and around Texas and Louisiana," said Harold King, president of Bishop Lifting Products. "The acquisition also adds to our capacity and geographic presence to key market customers."