Stellus Capital Management, LLC Provides Unitranche Financing in Support of Altamont Capital Partners’ Acquisition of Bishop Lifting ProductsMar 22, 2022
Houston – TX, March 22, 2022 – Stellus Capital Management, LLC (“Stellus”) announced today that its affiliates provided senior debt financing and an equity co-investment in support of Altamont Capital Partners’ (“Altamont”) investment in Bishop Lifting Products, Inc. (“BLP” or the “Company”).
Founded in 1984, BLP is one of the largest providers of wire rope, slings, rigging, and related products in the United States. BLP’s dedicated employees help leading companies across all industries solve their lifting and industrial needs. Presently, there are 26 branches strategically located across the country that allow customers to have the advantage of accessing the Company’s large breadth of products from any location. In addition to BLP, the Bishop family of brands includes Delta Rigging and Tools, Morgan City Rentals, Matex, Woods Logging, American Wire Rope and Sling, Western Sling, and Louisiana Crane.
“We are excited to partner with BLP and appreciate Stellus’ support on this transaction,” said Chase Beeler, Principal at Altamont. “We look forward to continuing our partnership with the Stellus team as we grow the BLP platform.”
Adam Pollock, Managing Director at Stellus, added, “We appreciate our longstanding relationship with Altamont and the opportunity to support them again, along with BLP management, on this platform build. The Company’s market leading position, significant product and end market breadth, and highly differentiated service orientation and mindset position it well for continued growth.”
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