Altamont Capital Buys Bishop Lifting
Feb. 2, 2022 - Altamont Capital Partners (Altamont) today completed its acquisition of Houston-based Bishop Lifting Products Inc. (Bishop) from SBP Holdings.
The transaction includes the entire Bishop business. Bishop is a market-leading, value-added distributor of lifting products and solutions.
Altamont invests in companies with strong business models and great teams that have opportunities for tremendous growth. Altamont has extensive experience partnering with middle-market companies like Bishop, supporting management and providing resources to enable them to grow and succeed.
“We are thrilled to join with the Bishop 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, managing director at Altamont. “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 Bishop 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,” said Harold King, CEO of Bishop. “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 Bishop’s clients.”
As part of the transaction, King will continue as CEO of Bishop and Bishop will retain all its current employees.
“The partnership between Altamont and Bishop 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 Bishop’s current operations while also looking to grow stronger through adding new customers, end markets, and capabilities, including through the pursuit of strategic acquisitions,” added Chase Beeler, principal at Altamont.
Jefferies LLC acted as financial advisor to Altamont. PricewaterhouseCoopers LLC served as accounting advisor to Altamont for the transaction and Ropes & Gray LLC and Morrison & Foerster LLC served as legal advisors.
Altamont Capital Partners is a private investment firm based in the San Francisco Bay Area with more than $4.0 billion of assets under management. It focuses on investing in middle market businesses where it can partner with leading management teams.