Singer Industrial TO ACQUIRE DAKOTA FLUID POWER
[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]November 12, 2018-Houston, Texas — Singer Industrial will acquire Dakota Fluid Power and subsidiaries with closing scheduled for December 3, 2018. The Dakota Fluid Power operation will form the platform foundation for Singer Industrial entry into the Fluid Power repair and services industry forming a third business vertical within the holding company along with its Industrial Rubber vertical, Singer Industrial and its Rigging and Rental vertical, Bishop Lifting Products. With this addition, Singer Industrial will increase its North America footprint to 74 locations with over 1,300 employees.Dakota Fluid Power established in 1991 by President, Rick Lindemann, and his partner and Vice President, Mike Nelson, is headquartered in Sioux Falls, SD and has grown to 13 locations and 197 associates in the upper Midwest U.S. with operations in North and South Dakota, Nebraska, Minnesota and Wisconsin. The Dakota Fluid Power organization provides hydraulic and pneumatic components and machinery along with service and repairs through its operations and subsidiaries Prairie Truck Equipment, Midway Machining, Engineered Products, Y2K Filtration, OEM Manufacturing and ASI Hydraulics. DFP is the region’s leading hydraulic expert in a variety of industries notably agriculture, on and off-highway construction, municipalities, utilities, waste, food processing, wind energy, mining and oil and gas. Lindemann and Nelson will continue to manage the DFP operation and expand the enterprise through acquisition and organic means.
SBP President and CEO Don Fritzinger said, “We are truly excited about teaming up with Rick and Mike at Dakota Fluid Power to enter the fluid power market. It is a large addressable market with tremendous opportunity for growth and there is no question we have the right team as a foundation.”
Rick Lindemann and Mike Nelson of Dakota Fluid Power are excited about the opportunity Singer Industrial provides to continue to grow the foundation they have built. “We feel strongly that we have teamed up with the right group to continue DFP’s tradition of “Commitment to Customer Success”. We look forward to the opportunity to expand our presence in the Fluid Power Industry. We are also eager to work with our fellow companies in the SBP group.
Singer Industrial provides mission-critical components, inspection and testing services, repairs and specialized rental activities throughout North America. More information can be provided by viewing www.sbpholdings.com, www.singerequities.com, www.lifting.com, www.dakotafluidpower.com.[/vc_column_text][/vc_column][/vc_row]
