CPE News (5.14.2024) – Bishop Lifting Products, Inc., a portfolio company of Altamont Capital Partners, has acquired Oceanside Equipment Limited. Financial terms were not disclosed.
With office in Mount Pearl, Newfoundland, Dartmouth, Nova Scotia based Oceanside Equipment is a leading wholesale distributor of rigging and mooring products. Oceanside has been serving customers since 1990 when Greg Maloney started the company as an aquaculture industry distributor. Since then, the company has expanded its services across Canada, serving marine, mining, transportation, and manufacturing end markets.
Founded in 1984, Hoston, Texas based Bishop Lifting is the largest provider of wire rope, slings, rigging, fall protection, and related safety-critical products in North America.
Oceanside marks Bishop’s fourteenth acquisition since 2012 and is the seventh add-on acquisition since Altamont’s investment.
photo credit: Oceanside Equipment Limited
News Release
Bishop Lifting Acquires Oceanside Equipment, Expanding Footprint into Canada
HOUSTON, May 14, 2024 /CNW/ — Bishop Lifting (Bishop), a portfolio company of Altamont Capital Partners, today announced the completed acquisition of Oceanside Equipment (Oceanside), a leading wholesale distributor of rigging and mooring products. Headquartered in Dartmouth, Nova Scotia, and with a location in Mount Pearl, Newfoundland, Oceanside has been serving customers since 1990 when Greg Maloney started the company as an aquaculture industry distributor. Since then, the company has expanded its services across Canada, serving marine, mining, transportation, and manufacturing end markets.
Oceanside marks Bishop’s fourteenth acquisition since 2012 and is the seventh add-on acquisition since Altamont’s investment. Oceanside’s Canada locations and strong private label OCEAN offering support Bishop’s ongoing strategy to become the leading provider of lifting products and services not only in the United States but across North America. Post-acquisition, Oceanside will keep its branding and its teams, with Greg Maloney, Gary Sullivan, and Vincent Penton continuing in commercial and leadership roles.
“The acquisition of Oceanside marks our first physical locations in Canada and continues our strategy to expand our core solution offerings and footprint to serve customers locally across North America,” said Harold King, CEO of Bishop Lifting. “Oceanside has strong customer relationships across Canada, and I am excited to welcome the entire team to the Bishop family.”
“Bishop Lifting is a great home for our employees and a partner to steward the business we have built over thirty-plus years,” said Greg Maloney, founder of Oceanside Equipment. “I look forward to working with Bishop to continue investing in products and distribution to serve our collective customers across North America.”
About Bishop Lifting
Founded in 1984, Bishop Lifting is the largest provider of wire rope, slings, rigging, fall protection, and related safety-critical products in North America. Bishop’s dedicated employees help leading companies across all industries solve their lifting and industrial needs. With over 45 branches located strategically across the United States and Canada, customers have the advantage of accessing Bishop’s large breadth of products from any location.
About Altamont Capital Partners
Altamont Capital Partners is a private investment firm based in the San Francisco Bay Area with over $4 billion in assets under management. Altamont is focused on investing in middle market businesses where it can partner with leading management teams to help its portfolio companies reach their full potential. The firm’s principals have significant experience building business success stories across a range of industries, including multi-unit consumer, specialty manufacturing and distribution, industrials, financial services and business services. For more information, visit www.altamontcapital.com.
CONTACT:
David Moseley “Mo”
VP Marketing
Bishop Lifting Products, Inc.
125 McCarty Dr.
Houston, TX 77029
(713) 674-2266 O
(713) 671-7803 D
(713) 702-4563 C
david.moseley@lifting.com
www.Lifting.com
SOURCE Bishop Lifting Products