ST. LOUIS, Nov. 13, 2013 /PRNewswire/ -- Harbour Group has closed on its sixth investment fund, with total commitments of $672 million, Jeff Fox, chairman and CEO, announced. The commitments exceeded the company's $650 million target and represent a 34 percent increase over Harbour's fifth investment fund, which closed in 2006.
"Over the years, our team has built many great businesses," Fox said. "We're looking forward to building more."
Harbour Group has already completed the acquisition of two core companies on behalf of Fund VI, Fox said. Harbour has purchased CleaverBrooks, an 84-years-old manufacturer of industrial and commercial boilers, as the core business for Harbour's Boiler System Solutions Group. Harbour has also acquired ONICON, a manufacturer of flow meters and energy management systems for water-based systems, as the core business for Harbour's Flow Control & Measurement Group.
Forum Capital Partners, of New York, served as Harbour's strategic advisor and placement agent.
Harbour Group (www.harbourgroup.com) 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 boiler systems; flow and energy management systems; professional diagnostic and repair tools; specialty LED systems; niche distribution; logistics services; decorative and functional kitchen and bath hardware; 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 172 companies in 37 different industries.
SOURCE Harbour Group
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