SBP Holdings buys Catawba Industrial Rubber, Coastal Hose and Rubber

DALLAS—SBP Holdings L.P. has acquired Catawba Industrial Rubber Co. Inc. and its subsidiary, Coastal Hose and Rubber Inc., operations that will fall within the Singer Hose and Rubber Division of SBP.

The transaction was finalized Aug. 31. Terms of the deal were not disclosed.

The additions will expand SBP Holdings locations to 78, now with more than 1,000 employees overall.

"We are truly excited about teaming up with Skip, Pam and the team at Catawba Industrial to grow our presence in the Southeast industrial hose and specialty gaskets (market)," SBP CEO Craig Osborne said in a statement. "(This) continues to be a large, addressable market with tremendous opportunity for growth ... and there is no question we have a solid base and the ability to expand."

Catawba Industrial began in 1963 and has been owned and operated by the husband and wife team of Marvin (Skip) and Pam Bruce since 1999.

The business is based Charlotte, N.C., (Catawba Industrial Rubber) and Wilmington, N.C., (Coastal Hose and Rubber). Catawba produces specialty gasket and industrial belting and operates in industrial, construction, chemical and resale spaces.

The Bruces will manage the operation during the transition and then retire, according to a release from SBP Holdings.

"We have been proud to serve the Carolinas for decades," Skip Bruce said. "We are extremely confident that this transition will benefit our employees as well as our customers by providing the same excellent sales and service while providing a stronger network and expanded offerings."

Singer Hose and Rubber Division president Sam Petillo said Catawba has grown to a consistently profitable franchise "by providing exceptional service to their diversified customer base."

"We are very excited to have them join our team," Petillo said.