ST. LOUIS, Nov. 28, 2016 - CPS Products, Inc., a Harbour Group company, has acquired the assets of AAB Smart Tools, LLC, Jeff Fox, Harbour Group's chairman and chief executive officer, announced. Terms of the transaction were not disclosed.
Based in Orlando, Fla., AAB Smart Tools ("AAB") develops smart device-connected tools serving the HVAC technician. AAB's current product line includes a dual-port static pressure meter, airflow and environmental meters, temperature and humidity measurement and data loggers, and a variety of useful accessories. A strong pipeline of additional products will reach the market in coming months.
Mr. Fox said, "AAB's innovative products and future developments are a great addition to CPS. We eagerly welcome their product development skills and vision to our team and believe access to the Harbour Group operating resources will assist in future product development and growth."
Scott Madden is AAB's founding partner and product development leader. "We are excited to become a part of the CPS platform," he said, "and to participate in bringing a growing line of new, smart, technology-enabled tools to the market."
Paul Baldetti, President of CPS Products, commented: "The acquisition of AAB Smart Tools takes CPS into a new product line that will prove beneficial as we continue to build our company both in existing and future end markets. Scott Madden and his engineering team have created superb products and we look forward to all that we will accomplish together in coming years."
About CPS Products
CPS Products is a business built by technicians, for technicians. We design Tools for the Professional Service Technician. With the world's most comprehensive range of Leak Detection technologies, Smart Diagnostic tools, and proven Maintenance Solutions, CPS Products has been The Workingman's Choice® since 1989.
About Harbour Group
Harbour Group is a privately owned, operations focused company based in St. Louis, Mo. Harbour Group's companies are engaged in manufacturing and distribution in multiple industries, including scientific products and labware, thermal management solutions, flow and energy measurement, boiler systems, professional diagnostic and repair tools, niche distribution, logistics services, abrasives, diamond-cutting products and related tools, entertainment and music products, and auxiliary plastic processing equipment. Since its founding in 1976, Harbour Group has acquired 188 companies in 39 different industries.
SOURCE Harbour Group