CPS Products, Inc. Acquired by Harbour Group
MIAMI, Nov. 12, 2012 /PRNewswire/ -- CPS Products, Inc. has been acquired by Harbour Group, Ed Jeffers, CPS's chief executive officer, announced today. Terms of the transaction were not disclosed.
CPS is a manufacturer of tools, equipment, and instruments used around the world by professional technicians who service commercial HVAC/R and automotive AC systems. The company's products, sold under the CPS and Pro-Set brands, are recognized globally as technology and performance leaders. CPS was founded by Mr. Jeffers in 1989 and is based in Hialeah, Fla.
Mr. Jeffers said, "This is a very exciting development for our employees, customers, and vendors. The operational and financial resources of Harbour Group will help create an even more compelling offering for our customers and more opportunities for our employees."
"With its outstanding technology and rock-solid reputation, we are thrilled to welcome CPS into the Harbour Group family," said Jeff Fox, Harbour Group's chairman and chief executive officer. "Ed built a great business, and we look forward to partnering with his team to further develop the company's strengths in new-product development and customer service. We also believe there are excellent opportunities to acquire other companies with strong technology in the HVAC/R industry to build an even stronger industry leader."
Harbour Group is a privately owned operating company based in St. Louis, Mo. Harbour Group and its companies are engaged in manufacturing, distribution, and specialty services in multiple industries, including specialty LED systems, niche distribution, logistics services, decorative kitchen and bath hardware, automotive enthusiast products, 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 170 companies in 35 different industries.
SOURCE CPS Products, Inc.