Harbour Group has acquired Auto Meter Products, Inc., a leading manufacturer of high-performance racing instruments for professional and sport auto racing, as well as the automobile enthusiast market, Harbour Group’s Chairman and Chief Executive Officer, Sam Fox, announced today. Terms of the transaction were not disclosed.
Auto Meter Products Inc. is based in Sycamore, in northern Illinois. The company, founded in 1957, has approximately 500 employees. Products include auto gauges, tachometers, consoles, and battery testing and charging equipment. The company sells these products to Original Equipment Manufacturers (OEM s) and nationwide through auto parts stores, speed shops and catalog retailers.
The acquisition of Auto Meter represents another example of Harbour Group s commitment to companies that provide superior products and outstanding customer service, Mr. Fox said. He commented, Auto Meter has built one of the strongest brand names in its industry through highest-quality performance products and outstanding customer service. We believe there are significant opportunities for new product introductions, greater market penetration and acquisitions of complementary businesses serving the high-performance market.”
Ralph Westberg, Auto Meter s president, said the acquisition by Harbour Group would allow the company to continue to pursue its growth strategy. He commented, This relationship makes sense for both companies. Auto Meter is the most recognized name in the performance-automotive gauge industry. Harbour Group will work with us to accelerate our growth by leveraging our market-leading position and the competitive advantage resulting from our widespread distribution.”
Harbour Group is a privately owned company based in St. Louis, Missouri. Harbour Group and its related companies are engaged in the manufacture and distribution of industrial products including high pressure cleaning equipment, auxiliary plastic processing equipment, automotive accessories, hearth and chimney products, textile machinery, pre-engineered building components, industrial springs and fasteners, heat exchange equipment, automotive enthusiast products and products used by the home maintenance industry.
