M&A Deal Summary

Altamont Capital Partners and Stellus Capital Management Acquire Bishop Lifting Products

On February 2, 2022, private equity firms Altamont Capital Partners and Stellus Capital Management acquired machinery company Bishop Lifting Products from Singer Industrial

Acquisition Highlights
  • This is Altamont Capital Partners’ 1st and Stellus Capital Management’s 1st transaction in the Machinery sector.
  • This is Altamont Capital Partners’ 37th and Stellus Capital Management’s 13th transaction in the United States.
  • This is Altamont Capital Partners’ 7th and Stellus Capital Management’s 3rd transaction in Texas.

M&A Deal Summary

Date 2022-02-02
Target Bishop Lifting Products
Sector Machinery
Buyer(s) Altamont Capital Partners
Stellus Capital Management
Sellers(s) Singer Industrial
Deal Type Divestiture

Target

Bishop Lifting Products

Houston, Texas, United States
Bishop Lifting Products is a fabricator and distributor of products, services, and lifting solutions for crane, rigging, marine, and oilfield applications. Bishop Lifting Products was founded in 1984 and is based in Houston, Texas.

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Buyer(S) 2

Buyer

Altamont Capital Partners

Palo Alto, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2010
PE ASSETS 4.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Altamont Capital is a private equity group focused on acquiring US-based middle-market companies. The Firm has a particular interest in companies undergoing a transition, either operational or strategic, in which Altamont believes it can help navigate. Altamont can invest up to $150 million of equity per transaction and looks for businesses with EBITDA up to $100 million. The Firm prefers control transactions and targets a range of transaction types, including corporate carve-outs, build-ups, take-privates, and founder transitions. Sectors of interest include business services, financial services, industrials, healthcare, consumer, retail, restaurants, franchising, and technology. Altamont Partners was formed in 2010 and is based in Palo Alto, California.


DEAL STATS #
Overall 41 of 49
Sector (Machinery) 1 of 1
Type (Divestiture) 6 of 6
State (Texas) 7 of 7
Country (United States) 37 of 43
Year (2022) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-01 Gracent

Manhattan Beach, California, United States

Gracent is a provider of multidisciplinary services including applied behavioral analysis, speech therapies, neuropsychology, and diagnostics to support people with autism and related disorders. Gracent operates a network of outpatient clinics in the Illinois and Texas markets. Gracent was founded in 2022 and is based in Manhattan Beach, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-29 Excel Fitness Holdings

Austin, Texas, United States

Excel Fitness Holdings operates 150+ Planet Fitness clubs in Austin, Dallas/Ft Worth, Tulsa, Northwest Arkansas, North Carolina, and Virginia. Its mission is to build a team culture and atmosphere constructed on trust, humility, and strong relationships, always leading by example and putting others first with the utmost integrity, dedication and accountability. Excel Fitness Holdings is based in Austin, Texas.

Sell -
Buyer

Stellus Capital Management

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Stellus Capital Management is a provider of debt and equity capital to middle-market companies headquartered throughout the US and Canada. For credit commitments, Stellus looks to provide $10 to $50 million of capital to help support buyouts, acquisitions, recapitalization, growth opportunities, rescue financing, distressed situations, as well as bridge loans. Sectors' of interest for Stellus' credit practice includes business services, energy, general industrial, government, healthcare, software and specialty finance. Stellus' equity practice seeks to provide $30 to $50 million to small and mid-sized energy (upstream, oilfield services, midstream) companies. Stellus Capital was originally formed in 2004 as Laminar Direct Capital and operated as the direct investing unit of D.E. Shaw. The Group became independent in 2012. Stellus has offices in Houston, New York City, and Washington DC.


DEAL STATS #
Overall 13 of 23
Sector (Machinery) 1 of 1
Type (Divestiture) 1 of 1
State (Texas) 3 of 6
Country (United States) 13 of 23
Year (2022) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-11 Munch s Supply

Hillside, Illinois, United States

Munch's Supply is an HVAC distributor and third-generation family business focused exclusively on supplying heating and cooling industry contractors with quality products. Munch's Supply was founded in 1956 and is based in Hillside, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-28 Pearl Media

Montclair, New Jersey, United States

Pearl Media develops, manages, and sells unique marketing, digital, and static media opportunities. Working with real estate assets, Pearl develops urban core, mixed-use commercial space, transit centers, and transit adjacent properties in top markets with premium place-based static and digital signage. It targets and transforms large format static properties and vacant storefronts into best-in-market out-of-home advertising opportunities. Pearl Media is based in Montclair, New Jersey.

Buy -

Seller(S) 1

SELLER

Singer Industrial

Dallas, Texas, United States

Category Company
Sector Distribution
DESCRIPTION

Singer Industrial is a value-added distributor of industrial rubber products and wire rope & rigging products primarily operating in the Eastern United States. Singer Industrial is based in Dallas, Texas.


DEAL STATS #
Overall 1 of 1
Sector (Machinery) 1 of 1
Type (Divestiture) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-30 Future Hydraulik

Laval, Quebec, Canada

Future Hydraulik is a distributor, fabricator and wholesaler of hydraulic hose, fittings, assemblies and fabrication equipment.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-02 Catawba Industrial Rubber

Charlotte, North Carolina, United States

Catawba Industrial Rubber is a distributor of hoses, couplings, conveyor belting, gaskets, and related MRO products. Catawba Industrial Rubber is based in Charlotte, North Carolina.

Buy -