ST. LOUIS, Jan. 24 /PRNewswire/ -- 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
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
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 http://www.harbourgroup.com .
SOURCE Harbour Group