Harbour Group has acquired Merit Industries, Inc., the largest developer and manufacturer of touch-screen entertainment systems in North America, Harbour Group’s Chairman and Chief Executive Officer, Sam Fox, announced today. Terms of the transaction were not disclosed.
Merit Industries, based in the Philadelphia suburb of Bensalem, Penn., is the worldwide leader in touchscreen entertainment systems that can be placed on the countertop or the floor or wall- mounted. The company has an installed base of over 170,000 proprietary touch-screen systems, which are played more than 3.5 billion times per year and contain a suite of more than 80 interactive games involving trivia, sports, strategy, cards, skill, and action. Merit also offers software and hardware upgrade kits and networking packages. The company sells these products through a broad network of domestic and international distributors to street route operators ( SROs ), who install Merit s entertainment systems in pubs and taverns, casual dining restaurants, airports and other locations.
Merit was founded in 1977. It has about 180 employees. The company has been named Manufacturer of the Year for the past two years by the American Amusement Machine Association, and was recently given the Innovator Award for outstanding new product development by the Amusement and Music Operator s Association. The company maintains a website at www.meritind.com.
The acquisition of Merit represents another example of Harbour Group s commitment to companies that provide superior products and outstanding customer service, Mr. Fox said. He commented, Merit has an outstanding reputation as a leader in the touch-screen countertop market. We believe there are significant opportunities for greater penetration into its existing market, for penetration of new markets, and for acquisitions of complementary businesses serving these markets.”
David Logan, Merit s chief executive officer, said the acquisition by Harbour Group will allow the company to continue to pursue its growth strategy. He commented, This relationship is excellent for both companies. Merit is the most recognized name in the countertop entertainment industry. Harbour Group recognized the value of our market leading position and the competitive advantage resulting from our new products and ongoing development initiatives.”
Harbour Group is a privately owned company based in St. Louis, Mo. Harbour Group and its related companies are engaged in the manufacture 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.
