Viking Represents Catawba Industrial Rubber and Coastal Hose and Rubber in their sale to SBP Holdings

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Sep 02, 2022, 10:15 ET

CHARLOTTE, N.C., Sept. 2, 2022 /PRNewswire/ -- Viking Mergers and Acquisitions celebrates the successful acquisition of Catawba Industrial Rubber Co. Inc. and Coastal Hose and Rubber Inc. by SBP Holdings.

Catawba and Coastal are value-added distributors of hoses, couplings, conveyor belting, gaskets, and related MRO products in the Charlotte, N.C., and Wilmington, N.C., markets, respectively. They have served a diverse range of industries, including agriculture, construction, government, and transportation for over 50 years.

Business owner Marvin "Skip" Bruce, Jr., who purchased the businesses in 1999, was represented by Viking Mergers & Acquisitions, led by Mike Donahue and Merrell Stout. Skip reflected, "It was important that Pam and I be able to step away from the business now so that we can truly enjoy our retirement years. We are confident that our customers, employees, and vendors are in good hands with the SBP team, and we could not have managed through the process without the professionalism and expertise of Mike and Merrell. Our expectations were far exceeded thanks to them." Regarding the acquisition's success, Partner Mike Donahue commented, "The SBP team was great to work with and understands how to relate well to closely-held business owners; that, combined with the thorough effort by Skip and his wife, Pam, resulted in an outstanding outcome for all parties."

About Viking Mergers and Acquisitions

Viking provides exit strategies and M&A services to lower middle-market business owners. In business since 1996, many of Viking's brokers are themselves, former business owners. Viking has an 85% close rate, representing over 800 successful transactions across the Southeast U.S.

SOURCE Viking Mergers & Acquisitions