Singer Industrial finishes 2023 with 2 deals

DALLAS—Singer Industrial ended 2023 with a flurry of activity, closing two more acquisitions in December and giving the distributor of rubber goods, accessories and services a total of 10 purchases for the year.

The Dallas-based firm on Dec. 1 closed on the acquisition of Ray Lewis & Co., and on Dec. 20 purchased Hoser Inc.

This final deal brings Singer Industrial's North American footprint to about 100 locations and more than 1,400 employees.

Singer is owned by AEA Investors Small Business Private Equity, which in April completed a continuation fund with $384 million in capital commitments for Singer. The continuation fund then acquired a majority interest in Singer Industrial from AEA Investors Small Business Fund II L.P. (SBF II) and its other owners.

For its most recent purchases, both Ray Lewis & Co. and Hoser will operate within the Industrial Rubber Division of Singer Industrial. The division specializes in supplying hose and fittings, conveyor belts, seals and gaskets, and related accessories and services to a variety of markets.

Ray Lewis has been serving the Ohio markets of Lisbon and Youngstown since its founding in 1933, according to a Singer news release. It has been owned since 1998 by Ted Rose.

The distributor supplies industrial and hydraulic hoses, fittings and supplies to customers in the construction, food and beverage, agriculture, recycling and general industrial markets.

"We are pleased to have Ray Lewis & Co. join our growing hose business," said Sam Petillo, president of Singer's Industrial Rubber Division. "We look forward to their contributions, which will expedite our growth in Northeast Ohio. We're confident in the value this partnership will deliver to Ray Lewis & Co.'s customers."

Hoser Inc. was established nine years ago and has locations in North and South Carolina. It serves the agriculture, construction, food and beverage, recycling and general industrial supply markets, and also provides on-site hose repair services.

The business was owned and operated by Paul Dugick, who will continue to manage the operation under Singer's ownership. Dugick said he plans to expand the business by adding new locations and selling core Singer Industrial products.

"I've accomplished everything I set out to do with Hoser in the Carolinas," Dugick said in a statement. "An entrepreneurial partner like Singer Industrial provides the Hoser team the support and footprint to rapidly expand our service fleet beyond the Southeast into other major markets across the U.S."

"Paul has build an amazing team and mobile business. We are excited to use their knowledge to expand further into mobile services," said Singer Industrial CEO Craig Osborne.

With Hoser's large fleet of service vans, the acquisition expands Singer's value proposition to its customers to include on-site hose repair and hydraulic service in the Southeast, according to Petillo.

"Paul and his team fit will into our customer-centric culture of speed and local hose support," Petillo said. "We will continue to invest and expand our field service expertise that our customers value."

Singer Industrial hasn't been the only rubber goods distribution firm active in mergers and acquisitions in recent months.

On Nov. 30, Tipco Technologies Inc. and HydraTech Industrial Solutions joined forces to form one large hose and fluid conveyance solutions distributor. The merged company will continue under the Tipco name.

Tipco historically has been strong in the Mid-Atlantic, and HydraTech has distribution centers from the Southeast to the Pacific Northwest.

And Pittsburgh-based Eriks North America, after not making a purchase since 2015, closed on two deals in 2023. On Nov. 16, it bought the assets of Branham Corp., a fabricator and distributor of industrial hoses, gaskets, conveyor belts and related services. That followed its January 2023 acquisition of DeeTag Ltd., a distributor and fabricator of hydraulic and industrial hose assemblies, with two sites in Southern Ontario and one in North Carolina.