PHILADELPHIA (June 5, 2008) — LLR Partners Inc. said it has partnered with Singer Equities Inc.'s senior management team to acquire the business from the Singer family.
Terms of the deal were not disclosed.
Otis Dufrene, president and CEO of Singer, said he has enjoyed working with Paul Singer over the past 13 years, but he and Paul decided that at this point it was time to find a partner with the financial and strategic resources of private equity firm LLR to aid in growth and acquisition plans.
Paul Singer will remain on the firm's board of directors.
Singer distributorships operate through five companies: Allied Rubber and Rigging, Hampton Rubber Company, National Hose and Accessory, PRC Industrial Supply and R/W Connection. Singer has 11 branches in five states.