Harbour Group Acquires SP Industries, Inc.
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ST. LOUIS - SP Industries, Inc. and its affiliated companies ("SP"), are now part of the Harbour Group family of companies, Jeff Fox, Harbour Group's chairman and chief executive officer, announced today. Terms of the transaction were not disclosed.
SP is a leading designer and manufacturer of state-of-the-art scientific equipment, biological drug manufacturing solutions, and precision labware, with a product portfolio that includes lyophilizers, centrifugal evaporators, stability chambers, NMR (nuclear magnetic resonance) tubes and laboratory glassware, thermal control systems and laboratory apparatus. These products serve a range of end markets, including the pharmaceutical, biotechnology, scientific, university, healthcare, industrial, aeronautic, and semiconductor industries. They are distributed globally under the SP umbrella of market-leading brands, which include Hull, VirTis, FTS, Genevac, Hotpack, Bel-Art, H-B Instrument and Wilmad-LabGlass.
SP is based in Warminster, Pa., and has nine manufacturing facilities and three service centers in the United States and United Kingdom.
"We are very excited to welcome the impressive SP management team to our family and support them as they pursue their growth objectives," Mr. Fox said. "SP's brand strength, quality, breadth of product engineering and in-house manufacturing capabilities fit very well with our experience in the manufactured products sector. We plan to accelerate their investment in new product development, geographical expansion and complementary acquisitions, as we have done with our companies for the last 40 years."
Bill Downs, SP president and chief executive officer, added: "SP is passionate about the products that we bring to market. By inspiring confidence among end users in our quality, innovation and in-depth knowledge, we have built a successful company. Now we expect to take our business to the next level with the benefit of the operational expertise brought by Harbour Group. We look forward to a bright future for our employees and customers."
About Harbour Group
Harbour Group is a privately owned, operations focused company based in St. Louis, Missouri. Harbour Group's companies are engaged in manufacturing and distribution across diverse industries including thermal management, flow and energy measurement, boiler systems, professional diagnostic and repair tools, niche distribution, logistics services, decorative kitchen and bath hardware, abrasives, diamond-cutting products and related tools, laboratory equipment, glassware and labware, entertainment and music products, and auxiliary plastic processing equipment. Since its founding in 1976, Harbour Group has acquired 181 companies in 39 different industries.
SOURCE Harbour Group
CONTACT: Paul Wagman, Fleishman Hillard, Paul.wagman@fleishman.com, 314-982-1726
