Harbour Group Acquires Alemite LLC
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ST. LOUIS, Jan. 24, 2006 - Harbour Group, through an affiliate, has acquired Alemite LLC, a leading supplier of lubrication and fluid handling equipment and systems, Sam Fox, Harbour Group's Chairman and Chief Executive Officer, announced today. Terms of the transaction were not disclosed.
Alemite, headquartered at Fort Mill, S.C.., designs and manufactures a wide range of lubrication equipment under the Alemite brand name. The company's products enjoy leading market shares and include pumps, reels, grease fittings, manual and powered grease guns, automatic lubrication equipment, and other related accessories. Alemite sells its products through industrial distributors to a broad range of general industries, as well as directly to industrial and transportation OEM's, petroleum equipment distributors, and into the automotive aftermarket. The company maintains a website at www.alemite.com.
Alemite will join Lincoln Industrial Corporation as part of Harbour Group's Lubricating Systems Group. Mr. Fox commented, "This acquisition is another great example of Harbour Group's commitment to market-leading companies. Alemite has a long history of product innovation and was a pioneer in the development of modern lubrication. We are excited to offer our customers two of the leading brand names in the industry - Alemite and Lincoln. We have a long history of building businesses and will continue to aggressively grow our Lubricating Systems Group, both organically and through complementary acquisitions in what remains a fragmented market."
"Alemite and Lincoln complement each other extremely well," commented Bart Aitken, President of the Lubricating Systems Group. "The combination increases our distribution reach and broadens our product offerings, enabling us to better serve our customers. Importantly, we plan to maintain differentiated Alemite and Lincoln product lines and to continue selling through both the outstanding Alemite and Lincoln distribution channels in the same way we do today. We are excited about the opportunity to continue to grow both businesses."
"The acquisition of Alemite is great for the company and great for our customers. It allows us to continue growing our business while maintaining the same standards of quality and innovation for which Alemite products are known," said Dana Waterman, President and Chief Executive Officer of Alemite. "We look forward to this association with Harbour Group and Lincoln Industrial and to continuing to provide Alemite customers with outstanding products and service."
Harbour Group is a privately owned company based in St. Louis, Missouri. In addition to lubricating systems and equipment, Harbour Group and its operating companies are engaged in a variety of activities including the manufacture and distribution of a wide range of consumer and industrial products. Harbour Group maintains a website at www.harbourgroup.com.
For further information contact:
Paul Wagman
Fleishman Hillard
(314) 982-1726
