Affiliates of Stellus Capital Management provided senior debt financing and an equity co-investment in support of Bishop Lifting Products’ acquisition of General Work Products, a provider of cordage, rope and fall protection products.
The acquisition of General Work Products is Bishop’s 12th acquisition since 2012 and the fifth add-on acquisition since Altamont Capital Partners acquired the platform in February 2022. Post-acquisition, General Work Products will keep its branding and its teams across its five existing locations in California, Texas, Louisiana and New York.
“We are excited to partner with GWP and appreciate Stellus’ support on this transaction,” Chase Beeler, principal at Altamont Capital Partners, said. “We value our partnership with the Stellus team as we continue to execute on BLP’s strategy to become the country’s leading provider of lifting products and services.”
“Since the deal’s inception, the Altamont and BLP teams have successfully executed their investment thesis to build scale and expand geographic scope and service offerings,” Adam Pollock, managing director at Stellus Capital Management, said. “We look forward to supporting their continued growth.”
