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Benchmark International Facilitated The Transaction Between Central Hydraulics And Sbp Holdings.
November 3, 2022
Benchmark International has successfully facilitated a transaction between Florida-based Central Hydraulics, Inc. (“Central”) and SBP Holdings of Houston, Texas. Founded in 1983, Central is a distributor of hoses and other products that also operates full-service hydraulic sales and repair shops. Central maintains five locations in Daytona Beach, Cocoa, Leesburg, Ocala, and Tampa. SBP Holdings, the country’s no. 2 hose and accessories distributor, maintains a footprint of approximately 85 locations and 1,000 employees.
Central’s founder, Chris Chavez, stated of the combination: “Our Team has been proud to serve Florida for decades. We are confident that this transition will benefit our employees as well as our customers by providing a stronger network and expanded offerings.” Chavez and operating partner Scott Strickland will continue to manage the business during the transition, and plans are in place to expand the enterprise through organic growth and cooperation with other SBP Holding companies.
The acquisition provides SBP with a critical position in the key Florida market, where Central has spent four decades building the market-leading position. With its large and growing installed base of complementary businesses, SBP can position this latest acquisition for incremental growth via supply chain leverage and other synergies out of its Fluid Power Division.
"Benchmark International is proud to have worked with Chris Chavez and his team on this Transaction," commented Benchmark International Transaction Director William Sullivan. "Chris made it clear from day one that he was seeking a long-term home for his great company that would do right by his team and position Central for additional growth and market position. We all think we found a perfect fit with SBP. We wish the Central and SBP teams all the best moving forward in this great partnership.” - William Sullivan, Director, Benchmark International.
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