HOUSTON—Singer Equities Inc. has reached an agreement to acquire Hydraulic Hose and Assemblies L.L.C. of Gorham, Maine.
HH&A will operate as a division of PRC Industrial Supply, a sales and service company also owned by Singer, according to a company news release.
The details of the agreement were not disclosed. Singer did note, however, that the newly acquired company will be managed by Kevin Easler, vice president and general manager for PRC.
HH&A is a distributor and fabricator of hydraulic and industrial hose and fittings. It offers in-house cylinder repair and is a provider of snowplow blades and ground engagement tools in Maine and Eastern New Hampshire, Singer said.
PRC, which specializes in conveyor belt, industrial hose and fluid power components, has locations in Portland and Bangor, Maine, and Burlington, Mass.
Easler, in a statement, said that Hydraulic Hose and Assemblies's reputation throughout New England will be asset to PRC.
"As we continue to grow our fluid power footprint in Maine and New Hampshire, they will play an integral part in that expansion," Easler said.
Joe MulCahy, president and co-owner of HH&A, said the acquisition best positions his company for continued success.
"Singer Equities has a great reputation for allowing companies to continue to do what they do best," MulCahy said in a statement. "We believe this move is in the best interest of the dedicated HH&A employees, and for the long-term success of HH&A."
Houston-based Singer, a wholly owned subsidiary of SBP Holdings is provider of industrial rubber, wire rope, rigging, fluid power products and services. It steadily has been growing its portfolio through acquisitions.
In November 2018, SBP Holdings purchased Dakota Fluid Power Inc.