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Lubert's LLR buys Singer rubber industries

LLR, a $1.4 billion Philadelphia private equity firm, buys Singer Equities' $75 million yearly rubber engine parts business, Bethesda, Md.

LLR Partners Inc., the $1.4 billion Philadelphia private equity firm run by Seth Lehr, Howard Ross and their partners as a key province in  Ira Lubert's investment empire, has acquired Singer Equities Inc., Bethesda,, which makes rubber hoses, belts, fittings and gasket blanks.
  LLR won't say what it paid Paul Singer and his family for the group. LLR and its managers raised the equity; Sovereign Bank's Robert Mindick arranged the debt, backed by Commerce Bank.
  Singer owns five companies with $75 million in yearly sales thru 11 offices scattered around the East, said LLR spokeswoman Kristy Lash.
  That includes R/W Connection, Landisville, Pa; Allied Rubber and Rigging, Butler, Pa.;  Hampton Rubber Co., Norfolk, Va.; National Hose and Accessory, Pasadena, Tx.; and PRC Industrial Supply, Portland, Me. The Singers acquired Allied, Hampton and RW from Baltimore heavy-wire maker Indusco Group in 2005, and bought the others later.