April 2, 2009
On April 2, 2009, the principals of both companies entered into an agreement whereby National Hose & Accessories, a wholly owned subsidiary of Singer Equities, will purchase Coastal Rubber Company. Coastal is one of the region’s premier industrial rubber products distributors specializing in the fabrication of hydraulic, industrial, and metal hose assemblies.
Roger Hall, the sole stockholder of Coastal, who will continue with the new venture as Vice President, Sales & Marketing of the combined companies said, “National Hose has a very positive reputation in the market place and we are excited about teaming up with them. Bringing together two premier distributorships in our marketplace will result in a powerful organization that will be extremely beneficial to our customers and our employees”. Consummation of the transaction is expected within the next 60 days.
Singer Equities, Inc. is a group of valued-added distributorships in the industrial rubber products industry offering a full range of hydraulic, industrial, and metal hose, conveyor belting, gaskets, and many other specialty fabricated items.