Harbour Group Acquires Lincoln Industrial Corporation

Apr 12, 2005, 01:00 ET from Harbour Group

    ST. LOUIS, April 12 /PRNewswire/ -- Harbour Group has acquired Lincoln
 Industrial Corporation, the global leader in the design, manufacture, and
 service of lubrication systems and equipment and related products, Sam Fox,
 Harbour Group's Chairman and Chief Executive Officer, announced today.  Terms
 of the transaction were not disclosed.
     Based in St. Louis, Lincoln was founded in 1910.  The company's product
 line represents the broadest and most complete range of highly engineered
 lubrication systems in the world.  Lincoln's products include centralized and
 automated lubrication systems, lubrication tools and equipment, and material
 dispensing equipment for high viscosity materials.
     From its network of five manufacturing facilities, nine technical support
 centers, and four R&D laboratories strategically located across the U.S.,
 Europe, and Asia, Lincoln serves a diverse customer base including original
 equipment manufacturers, value-added distributors, and catalog distributors
 across multiple end markets including transportation, agriculture, mining,
 construction and basic manufacturing.
     Lincoln represents Harbour Group's first entry into the lubrication
 systems segment of the market.  Mr. Fox commented, "Lincoln enjoys leading
 market shares, a global footprint, and a devoted and diverse customer base.
 We believe there are significant opportunities for further penetration of its
 existing markets, entry into new markets and geographies, and continued
 development and introduction of new products.  In addition, the global fluid
 dispensing equipment industry is large and highly fragmented, and we plan to
 aggressively pursue complementary acquisitions."
     Mr. Fox further noted that Harbour Group's acquisition will allow the
 company to continue to pursue its growth strategy.  He commented, "Harbour
 Group has a long history of building businesses.  Lincoln management, its
 employees, and its previous owners created significant value through the
 innovative development of the highest quality products, a focus on superior
 customer service and the development of global distribution capabilities.  We
 look forward to the opportunity to continue to build the business."
     Harbour Group is a privately owned company based in St. Louis.  Harbour
 Group and its operating companies are engaged in the manufacture and
 distribution of a wide variety of consumer and industrial products, including
 entertainment products, architectural lighting, automotive enthusiast products
 and catalogs, hearth and chimney products, auxiliary plastic processing
 equipment, pre-engineered building components, heat exchange equipment, and,
 now, lubricating systems and equipment.

SOURCE Harbour Group